All Forum Posts by: Philippe Laurin

Hi people from Montreal, just a reminder that the event is in 2 days! 

Hi @Mitchell Mcnall, ok I'll let you know when the next event occurs. 

Hi @Gerard Toohey, there's a Montreal meetup Friday June 14th if you want to come have a talk: 

https://www.biggerpockets.com/forums/521/topics/71...

Montreal BP people, let's kick off this summer! Come grab a drink, some bites and discuss real estate! There is no set agenda for this event.

Please RSVP so I know how many tables to reserve.

In Quebec you can't evict tenants easily, the only way to do so that I know is if you retake the unit to live in it or for your parents/siblings. Otherwise if you want to do major repairs I think you'll need to compensate them and you'll have to negotiate with them for a price hike when the lease is up for renewal. 

You'd better talk with someone at CORPIQ or the APQ to validate what you can or can't do. 

Hi!

There are multiple clubs organizing meetups and some of them also offer classes: Club d'investisseurs immobiliers du Québec, Immofacile, Mordus d'immobilier, MREX, etc. 

I'm planning a meetup soon, make sure to add keyword alerts ("montreal") to know when it happens. 

@Rob Bianco, I have to agree with Mike that from an American's perspective it makes very little sense to invest in Montreal. There are probably a 100 american markets which would be easier to invest in. Every time I listen to a BP podcast I'm amazed at how easier it seems to be south of here. 

Thanks for all the feedback guys. 

The deal I was looking at ended up not looking too interesting when I got the economic value number from the banks so I won't be going forward with this one. 

Personally I wouldn't buy it as an investment property. Buying properties with negative cashflow is not a strategy that can scale well. It depends on your strategy and your objectives. 

At $400K for $2K/mo revenue I'd be very surprised if it had a positive cashlow within the first 5 years, if you take into account all the operating costs. Condo fees on this could be fairly high.