All Forum Posts by: Philippe Busque

I invest in quebec city. As with any market, you need to know the right price for that given market and to have a deal it needs to be priced right. From what I know from a friend whos had success in Shawi, over 30k a door you are paying over market. And the dude is not afraid to cut every service from electricity to water to get people out.

Vacancy, people have no jobs, no money, most people on social assistance in quebec go there because rents are cheap. Theres money to be made like everywhere else but you need to know the market. Theres tons of investors from quebec who buy there thinking they are geniuses lol. They sell for a loss and never touch RE again.

It's very easy to do this here in quebec, no clue about the rest of canada.

You need to talk to a specialist, like a competent notary or even an accountant whos a specialist in real estate, meet them in your local RE groups monthly meetings. 

As long as you use commercial financing, you will not hit a wall. Your income does not matter for 6+units buildings.

Finding a partner is a good solution. You have money but no time? Find someone with time. Go to your local RE monthly meeting (CIIQ, Immofacile, mordus, etc). Do you speak french? If you have capital and go to Immofacile meetups, you will have A LOT of offers from active investors looking to scale up with more capital buying big deals and offering 50% of the pie to people with money. Investors with the contract get a great deal with 0 downpayment but have to structure, manage and stabilise it all, you get a great deal with 0 time invested. It's exactly the structure they teach there at Immofacile. Very win-win, I like it a lot. 

I did the CIIQ coaching program and it helped me a lot (from 2 to 9 doors in 1 year, last 6 units is already ready to refi and take out my downpayment to buy another 6 units, but I want to buy bigger...). I'm starting to like Immofacile's approach more, you buy bigger/better assets this way and for someone like me who has a lot of time, it allows me to always be looking for deals, instead of waiting for buildings to refi to keep going. I am in the quebec city area, if you are interested in buying around here, we could connect. I can probably give you a few names of investors who structure deals in montreal if you only want to invest there, just pm me. :)

My primary was the scotia momentum, 4% on groceries and 4% on fuel, now they changed it to 4% recurring payments and 2% fuel. They also increased the annual fee to 120$ from 100$, so I will be canceling this card in november. I can get a free tangerine card for 2% fuel 2% groceries. Is there anything better than the tangerine out there?

Very cool, did you have a track record to prove to your investors you knew what you were doing? I'm guessing your investors are all people you networked with previously?

Also how did you find the deal? Thanks for sharing!

you are wholesalling this property? What year was it built, where is it in Arraijan? Why are they selling it and why are they motivated? They own the title?

Wow very good post. I would love to learn more, any chance you could make a thread? How do you manage these properties? How do you find them? How is the banking system? Can you buy properties with no money down like in montreal/quebec?

Anybody with more than 30 units using rental hero? First time I hear of it and it does seem really good, can you scale up with it thought? 

I did not invest in moncton because I learned how to get good deals and financing here. I shifted my mindset from cashflow to networth. I also believe investing far from where you live is much riskier, I don't have the bankroll to be taking on much risk right now.

Investing far away will probably be when I'm just playing with real estate in a few years, not when I'm trying to build wealth. :)

I did not buy in Moncton. I ended up buying in quebec and levis, now up to 9 units.. My best deal is a 6 units where I converted all utilities to the tenants. One thing I've learned is you gotta do what others are not willing to do. Moncton is still in my radar, just like the US. :)