All Forum Posts by: Ram Srinivasan

@Yetunde Ijams, also get a copy of their driver's license. Make sure it matches up with the name on the lease agreement, I had a friend who rented his property who faked his name on the agreement, so when he googled the fake name, he got totally different results than what he should have gotten. If he used his real name, he would have quickly found out that the tenant was not worthy..

@Aaron Lamb,

Personally, in your situation, I would a) Get educated (no better place than here)

b) Network with real estate investors who are more experienced than you

c) Help the experienced real estate investors grow their business by adding value to them. I.e. Find them deals, make connections, do analysis. If you don't have money, experience, you should have time and the will and you will learn. Real estate is a relationship business, add value to others, value will come to you

Good luck!

@Jeff Skillen

I can tell you what NOT to do - Don't hire a seminar or Guru who will tell you that you need 0$ as he will help me raise money.

With $30K in Calgary, you won't be able to buy any SFH type of investment. You don't have enough of a DP.

A couple things you can do.. 

1) If you have an RRSP/ TFSA account, you can lend part of that money in financing a flip (for example), it will teach you the world of mortgages and private lending.

2) You can buy properties with 30K using an agreement for sale. This is very much possible as I have done so myself :) Of course, you will have to find, negotiate and structure the deal. With this method you can become a landlord for a lot lower down payment

@Account Closed - Definitely there are avenues to find deals to help other investors - FSBO websites (targetted), contract through realtors/ mortgage brokers are all avenues to find deal. As they say, find a deal, money will come..

@Yetunde Ijams, PM me, and I can send you over a contract I use....

Well said 

@Jerry Charlton

@Ifeanyi Okafor, please feel free to private message me. There are definitely alternative real estate strategies out there, always rented, very little headaches, cash flow, local  (20% Cash and Cash return all possible)...... how? I have invested in these projects personally myself. 

However, my recommendation is that before you even get started, you need to know that an investment property is minimum 20% down, so you are looking at 60 to 65K in proven reserves. Do you have this?

Ram

@Aidan, you may want to connect with Jett Rao in this forum, he is actively looking for Flip projects..

@Dylan Something Primary residence capital gains is tax free. There really isn't a minimum time that you have to stay in the property for. Honestly, If I were you, I would buy your primary residence 5% down (leverage), rent out the other rooms and jack up your cash flow. You COULD hire a property manager but honestly starting out, you need the experience and you are living in your OWN property, so if things break down, you have to have a couple contacts to fix it. So if you don't mind the decrease in privacy, this is the way to go. My regret is that I did not do this when I was 22 years old and living in Fort Saskatchewan, AB

HI all, 

I am looking to lend on a high end flip, looking for your input.

Property is a Million + home on waterfront IN Chestemere, Alberta.

As is value based on an independent appraisal 2 weeks ago is 1.03 Million. Renovated ARV after renovations are complete is 1.26 Million. The appraisal has noted and included reductions in home value (approx 70K) based on the frothy market of the past few months.

The purchase price inclusive of rehab costs for person doing the flip is 1 Million. He has already coordinated and found an end buyer who will buy the property upon conclusion of the flip.

I know this borrower personally, and has delivered on other projects/investments before.

Term of the loan is 4 months, any idea what I should charge for this kind of project, asking 70,000K to help with the renovation costs. Would you do this deal?

Ram