All Forum Posts by: Paul Finnemore

Hi Folks! We live and invest in Nova Scotia, Canada. We started 3.5 years ago and have done fairly well. When we started there was no annual rent control. This just changed last year and we now face a rent increase cap of 2% annually. This really has taken some appeal out of investing here for me, especially for our value-ad multi family deals. We have several, what would have been considered awesome, off market deals before us, but I am trying to decide what to do given the rent cap. We of course will only buy deals with strong cashflow and some margin of equity and value add potential. But how does rent control play out over the long term, with inflation rate, rising expenses, etc. There is so much unknown. Is it possible to get stuck with a bunch of tenants who hunker down for 20 years, and drive me into default? How much turnover can I conservatively estimate? Can anyone give me any insight on whether buy and hold can still work over the long term, or is it just a gamble? What can you use for rule of thumb for estimating tenant turnover? Is there enough turnover in a small apartment building to stay profitable? For example, in 10 years in a 20 X 2 bed 1 bath unit building, will half the units turnover? I'm looking forward to experienced multi-family investors who have held property in provinces, state, or cities with rent control. Thanks!

Hi Janelle. I'm up in the Valley BRRRRing, sourcing a few deals for people (JV or Wholesale). Always happy to connect and learn from others.

Thanks Trevor. I'm connected to the FB group now. Looks awesome. 

Hey BP World. My wife are novice investors from the Annapolis Valley in Nova Scotia, Canada. We have never done a BRRRR, but are in a position to act. We are going to see two potential deals (both residential multi-family) on Wednesday. Looking for advice on how to approach these viewings. What are we looking for exactly? Is there a checklist? This is all with the aim of knowing what renos to do and the cost of those renos. Thanks.

Hi Everyone, I am an investor from Canada. My wife and I own 3 duplexes which we bought ready to hold and collect rent. We now are moving on and looking for our first BRRRR deal. We are making great contacts with RE pros through networking. I would like to ask the BP world for ideas on incentives an investor may offer to help bump them to the top of the list for deal leads. For example, my PM has several people asking him for deals. I want to be near the front of the line. I'm looking to offer an incentive program for friends, family, PMs, contractors, RE Agents and other RE pros for bring us a deal. $1000 finders fee, a % of purchase, a % of equity? What would be most bang for our investor buck? We love being generous and understand the big picture. Blessings and Thank you!

Hey all. I’m up in the Valley. We have 3 duplexes that we are holding and looking for our next deal. This popular meetup sounds great. Would appreciate if someone could please PM me the details. Thanks 

Hi Evan, Welcome back. I'm up in the Valley. We began with rental properties 1.65 years ago. Glad to connect and share lessons learned and hear what your goals are, etc. Blessings.