All Forum Posts by: Nick Seginowich

 Thanks Mitch, I've actually seen her name mentioned a few times. I'll be reaching out. 

 Sent you a message, thanks!

Many Lawyers I've talked to don't understand cross border legalities. I am a Canadian with rental property in the US all in my name and am currently buying more. I would love to talk to a cross border attorney that understands how to structure this properly so that I am protected legally, have flexibility in doing creative deals and to make sure I'm not liable for double taxation in the US and Canada. Any advice, referrals or attorneys that can help would be very much appreciated, thank you!

I have a duplex in Texas that I want to move into one side of. It is currently rented out on a fixed term lease until Dec 31, 2023 but I want to move in before this. How much notice will I need to give my tenant and can I even do this? Thank you.

@Sam Smith

Hi Sam, thanks for taking the time to comment on my post! You're right I didn't really explain number 2 very well... I wasn't trying to say you need to have specific industry knowledge. I'm talking about general common sense, as in what most people understand about how the world works. I think we can ask ourselves if new things we learn make sense within our existing beliefs. 

An example would be if you hear about a new sales technique from someone on a podcast but they're main clientele consists of higher class white collar individuals while you're trying to sell to lower class, blue collar individuals. Your common sense should tell you that while the technique you learned might be viable, it may not translate into what you're trying to do, regardless of how much prior sales experience you have. I included this because I don't want to see anyone blindly following advice just because you heard it from a so called reputable source. You should trust yourself and not compromise your core beliefs in pursuit of success, whether it be a conscious decision or just a naïve one. 

I hope this can provide some clarity into my thought process and I would welcome anymore feedback!

I think what separates early success from those who fail, give up or never get started is a combination of 3 things:

1. An open mind

2. Common sense

3. A willingness to take action on what you learned

Too often people like to write off others as soon as they hear one thing they don't agree with. They listen to a podcast, read a book or talk to someone but they can't truly learn anything because they are constantly looking for what they don't agree with! "Every person that you meet knows something you don't; learn from them" - H Jackson Brown Jr. Take the life of Thomas Jefferson, we can learn a lot from his life as he did many great things but he also owned over 600 slaves in his lifetime. We can learn from others even if we don't agree with some aspect of their life or message. This is why number 2 is common sense. We need to have a common sense filter that everything we learn runs through. Having common sense allows us to determine **** from gold. Number 3 is most important because without it, success is impossible and more specifically you need to be willing to take action immediately. "The right time is always now" - Casey Neistat. If we're constantly following these 3 rules, I believe success is inevitable. 

Run this through your common sense filter and decide for yourself if it's **** or something that makes sense. If you don't agree with me don't listen, if anything in the post can help you then great! 

If it provides a solid return initially with the potential for increased rents over the next year then it sounds like a great deal to me. 12% is a good base return but it all comes down to if this deal would get you closer to your goals. I know you would like to get into some multifamily deals so it seems to me like you should go for it. Possible things to consider would be the type of tenants the property attracts and the current tenancy lease agreements. Also consider if you could get a better return for the $70,000 elsewhere? But I have heard there's a huge demand for these low income type rentals in San Angelo where 100% occupancy is pretty much the norm. Im guessing you already know if it's a good deal for you or not, so I would say listen to yourself, good luck!

@Paul Lennick

Hey Paul, I was wholesaling in San Angelo not San Antonio. 

@Alex So 

I'm actually back in Victoria now until early January, so if you're in town I would love to connect somehow. 

I've been looking in the more high end neighborhoods to start like Cordova Bay, Oak Bay etc... I'll be able to partner with my dads higher end construction company to do the work for flips. Also, I like Esquimalt, Gordon Head and Langford for possible rentals because they are some of the areas that generally permit garden suites and multi-unit conversions. 

It all starts with the deal though so if the numbers work we can find a disposition strategy in any area.  

Are you currently doing any business on the Island?

Hello!

I have been investing and wholesaling in San Angelo, TX for about a year and have learned a lot of great resources to go to for information such as lead lists, owner name/phone number/mailing address etc... 

I am moving back to my home town of Victoria, BC Canada soon and I want to take what I've learned with me, although I can't use any of these same resources to help me find motivated sellers in Canada because they only have US info.  

Does anyone invest in Canada and know of any good Canadian resources to find this same info, or have any helpful tips for how investing differs from the US to Canada? 

Thanks!