All Forum Posts by: Rodrigo Parada

Hey Nic,

Welcome!

Hey guys.  

Currently in the process of finalizing the purchase of 2 new plexes (both triplexes), bought a quad in Ste Therese 2 years ago and sold my house to move into a triplex in Laval-Des-Rapides.

Plan is right now to get the maximum number of mortgages to my name before I start looking at commercial mortgages and or private money.

Good afternoon all,

My personal two cents on the Montreal market... I've personally decided to invest in the secondary markets outside of the island.

Mainly because currently, the market is red hot and all properties that either have equity hidden in them or that are just a good/fair price for ''as is'' enter a bidding war. The only scenario I would see where getting into that dance would be for a BRRRR or to househack. However, this refers to MLS listings and not any deals you might find through another channel.

If you're dead set on the island, then as previously mentionned in the thread, start spreading the word that you want to invest in that market to your network and try to find a whole seller.  I've been added on a list that deals with the GMA so they do exist.

Lastly, I would also suggest, if not done already, that anyone looking to invest on the island gets familiar with the different neighborhoods as that could influence your purchase.  I'm thinking whether you focus on the transit portion or not.  The REM project might change that in the coming years but just thought I'd throw that out there.

Thanks, 

Thanks for the help Kevin.

Hello BP Community!  I'm looking for any input/recommendations from the community for a fiscalist in the Montreal Area.  I need help with putting in place a structure to help me deal with income taxes and maximize my returns.

Thanks in advance!

Good morning BP forum!

As the title says, I am looking for information on property management companies in the Great Montreal Area.  I am looking to hire that out in the coming months and would appreciate any insights from my fellow real estate investors.

Thanks!

Hi William,

I recently was approached by a whole seller for properties in Laval and Montreal.  I can share the info in private.  One other way to get this is the good ol' driving for dollars approach in the area you're looking to get into. 

As for the actual direct mail campaign, I wouldn't be able to help you on that one since I haven't done it yet.

Rod

 Thanks for the info Kevin.  Would you happen to have a wholeseller on hand who currently has properties to sell?

Thanks again!

I think that you can currently still find cash flow positive deals in the GMA. However, the screening, evaluation and more importantly, ensuring you have a good grasp on ARV will be key in finding your property.

I recently linked up with a wholeseller in the area and will be exploring that venue a bit more.  Seems that this is something more common south of the border than in the Belle Province.  

Also, since you're looking to acquire something on the island, make sure you are up to date with where rents are at so you can maximize your evaluations for potential purchases.  One thing that is certain though, in today's red hot market where properties are still selling at the level they are currently, anything that won't require lots of work or has already great leases will be greatly sought after.  Might be getting offers without any visits.  

As for tenants, I personally haven't had any issues in terms of either renting out or dealing with a certain fold of people.  Make sure you plan your Expenses to deal with any potential damage once they leave ( I always assume that it'll cost between 8k-10k when one leaves) and plan ahead.  Also, you can always include in your offer to have the previous owner deal with the tenants or if you plan on staying in one of your units, you can have them leave prior to you acquiring the property.

Good luck!

@Kevin Labonte  Merci de l'info Kevin.