All Forum Posts by: Robin Valadares

@Andrew Hildebrand and @Dave Vogt I'd be really interested in attending the meet up. I'm just here in Stoney Creek.  I've had similar thoughts about investing right now in that area is worthwhile or should I keep my capital liquid for a possible slow down/correction. 

Please let me know when you have anything finalized! Count me in!

@Giuseppe Pavone thanks for the advice! I will PM you shortly.

@Brandon Hall currently I will be focusing in the Southern Ontario market. Sorry my first post wasn't very clear!

Good Afternoon BP community,

I'm starting to try and build my real estate team. I currently have an accountant however he isn't too familiar with real estate investing so I was hoping to find someone who has a bit more expertise. I also want to incorporate so I can house (pun intended) my properties (1 current one and my future ones).

I currently own 1 SFR and my hopes is to get 1-2 more under my belt in the next 12 months. I will eventually move towards multifamily homes. But in my immediate future I will stay in the SFR market.

If anyone has any advice against incorporation please let me know as well.

From what I have heard and researched myself there is nothing similar in Canada unfortunately. Maybe someone on BP has any other news (hopefully good) regarding this issue.

Hi Mario , I'm located in Stoney creek and would love to hear about the ideas you have regarding real estate investing in the area. You can send me a PM/colleague request

Nicol Jackson welcome to BP!! I'm in the Stoney creek area and have the same mindset with starting with a flip. I have some experience in single family rentals but my plan is to branch out to some flips in the Stoney creek and St. Catharines area

Thanks for the responses so far guys. I appreciate the input. I have decided to keep the rental property and not to sell it. @Thomas S., I've debated many times in my head to pick up shop and head down to the Southern US to continue my real estate investment! @Crystal Smith, the tenants have expressed that they will be staying at the property for another 2 years minimum, so at least I will hopefully insure $31200 in the next two years. 

Unfortunately after reading more and more about  whether there is a Canadian equivalent to a 1031, I haven't found anything that would allow me to protect my capital gains until another investment property has been purchased.

Hi Cindy,

I'm not aware of any 1031 exchange program where I am situated. I will look into it. Yes, the property was my first purchase and was intended for me to become a landlord. I hope to get into multi level properties in the future.

The property does cash flow $1300 a month after all necessary expenses. Thanks for the advice on the pro account, looks like it may have some tools to help me out with my current issue and future questions.

Thanks again Cindy 

Good evening BP family!

I have a dilemma on my hands and would like some advice and input as to how I should proceed. 

I was currently approached by a realtor who was showing clients around the area in which my single family rental property is located. She approached my tenant and gathered my information from her. In conversation with her she told me that the clients love the neighbourhood and would really like to make an offer on the property.  The background on the property is that it was purchased 2 years ago for $370 000,  the offer was for $450 000 (she said it would be subject to negotiation once the clients were able to view the property). On the outset, that looks like a great deal for me, after real estate commission, I would be walking away with around $57 000.

The issue is that I have it currently tenanted at a cash flow of $1300 a month.  The tenants will be with me for the next two years at least, if not longer.

So now I am here wondering what the best decision would be for my financial health? Should I take the profit and re-invest it in another property? Should I keep the tenants and collect $15 600 yearly and then sell the property if and when they move out?

Please let me know what you think!