All Forum Posts by: Dave Vogt

Hi Spencer,

My wife Steph and I have been investing in Niagara for years now flipping and some long term holds. It's a bit nuts the way this market has jumped up.  I've been saying for years that the Niagara Region is the next Hamilton, but not too many people listened to me. 

Now we are seeing the same scenarios here that we saw 10 plus years ago in Hamilton. Would have been good to be in the game a long time ago here, but at least you are taking the steps to move forward and put yourself in a great position to reap the benefits of this area. 

If you ever want advice or want to chat...happy to share. I'm always available for a fellow investor. We all start somewhere and I wish I had a resource like bigger pockets when I got started and the connections I've made on here. 

Wishing you all the best in your endeavours,

Dave 

I personally manage the 2 I have left right now, but I do know a few people who manage properties here. I can always put you in touch with them if you'd like. 

The legal non conforming 4 plex we just put on the market sold for over asking. It was listed at 289,900 and had a 10.2% cap rate. The tenants paid a lot of the utilities on this one which made it cash flow better...something I always strive to get. 

We've often put down 30% on similar properties...that's a 34% cash on cash. The best part is the steadily climbing prices right now that just build your equity making the investment that much better. 

This rental having gone over asking still had a 9+% cap rate!!

Lets not forget a little sweat equity. There are tons of poorly managed properties...well at least there was at one time. They are getting harder to find as people start coming our way and buying up these properties. 

A savvy investor can do well down here. It's been great for us and even my broker is buying up bigger multi units now. It just makes good sense. 

I wouldn't give out an average cash on cash. In my opinion there is too much of a range that depends so much on your skill level, ability to repair the building, the amount you put down, etc...Gone soon will be the days of 20% down as lenders tighten up the lending criteria, but for those who know what their doing and have the equity to play with, it's a great area to invest. 

I've been investing in the Niagara Region for 13 years now and I've always found it to be a good place to find low-cost property with good cash flow. The way the market has been lately though things are changing pretty quickly and property values are going up at an exponential rate, but if you look at it from the perspective of investing it's still one of the better areas in all of Ontario to invest.

Fully rented, cash flowing 4 plex with an additional apartment over garage. Cap rate is high due to tenants paying bills and little maintenance with many upgrades over the last 10 years that include almost all the windows, most flooring, several kitchens and bathrooms have been updated, and fully rented with great tenants. 

Listed @ $289,900.Showings on Saturday's only between 1 and 4 pm to keep the tenants happy. Great schools in the area, great money maker. Give Dave a call at 905-341-7355 to get more details or a copy of the expenses. Property is listed on the MLS system and can be found here...http://homesniagara.com/property/17782065/358-FARE...

Hi John, I've been investing in the Niagara Region for the last 12 years bought and sold over 25 homes. I'm also invested in many rentals and I currently am working in the Grimsby area with another investor it's only about a 20 minute drive from my place and I learn the area quite well be happy to sit down for coffee with you anytime to talk shop. My partner and I are also licensed real estate agents. We got her license more of necessity because we are tired of dealing with the majority of agents out there who didn't look understand real estate investing or house flipping for that matter. We share everything we learned in the last 12 years and trust me it's pending interesting journey with all of her clients. Happy to help out anyway I can

I'm at House Flipper from the Niagara Region in Ontario

My suggestion as a Canadian investor would be to work directly with a mortgage broker who understands investment properties. I always suggest to people considering investing in real estate to sit down and figure out exactly where you want to be in 10 years time. What I mean by that is how many properties would you like to own? What type of properties would you like to own? And then determine how many houses a year you want to buy to hit your goal. This is where a good mortgage broker comes in handy one who understands all the nuances of real estate investing. Not all lenders are investor friendly and a mortgage broker will know the ones that are. Each lender has their own criteria for down payment terms etc...what you have for a down could very well be all that you need but again it'll depend on the lender. Hope that helps

Hey Mario,

I've used some pretty creative stuff over the years....you're only a few minutes away. I'm always up for a coffee to meet fellow investors. 

Hi Suzanne, 

Glad to have you here!! 

As a 12 year veteran of the "flip" my partner and I have seen our fair share of interesting and fun deals now. 25 under our belt to date and never a dull moment. 

I can't stress enough how important experience is in this game. Not that it is an absolute most, but it can really make a difference.

Steph and I  are always up to meeting fellow investors. If you're ever up for a coffee or lunch in Niagara, I'm buying ;-)

Dave