All Forum Posts by: Roman Stefaniw

Hello all. I was wondering if anyone purchases properties in cash and what the pro/cons of this would be. I purchased a duplex at the beginning of this year in the pursuit to begin my road to financial freedom. After reverse engineering the amount of properties it would take for me to become financially free i was a bit overwhelmed. It would be between 30-40 properties cash flowing 100-200 each. The area i'm investing in has houses as low as 30 000 up to 300 000$. I was thinking it might be a smart idea to live frugally for the next 5-8 years and save as much money as i can and purchase properties in cash.

I figure it would take relatively the same amount of money as purchasing 40 properties but i would only have to purchase 1/4 or a 1/5th of the amount to create the same amount of passive income. It would probably take about the same amount of time or maybe quicker as your money would start snowballing after owning a few properties. 

I was wondering if anyone uses this strategy and if you have any advice/pro's/cons for choosing this path. Thanks! 

@Account Closed Have you used that Template that you recommended to me before? Because I'm having issues with it. When i Minus the Mortgage Payment ( -723.94) for the month of February. It doubles it for some reason. 1447.88. So say i have 5000.00 in the account and I'm trying to minus the mortgage payment for the month I enter -723.94 and it automatically subtracts 1447.88 for some reason. Any help would be awesome as i have no idea how to use spreadsheets. Thank you!! 

@Jay Helms. Yes I will check it out. That first template won't work for me actually as I'm trying to organize with 3 different accounts. That template is good for one account. 

@Account Closed Awesome, this might just be perfect. Thanks!

Hi everyone! 

I just closed on my first duplex and I'm going through the process of organizing my money through spreadsheets. I have no previous experience with organizing money for an accountant like this and I'm getting a stumped. Basically I have 3 savings accounts I'm going to organize my PITI, water, Insurance, Prop tax, Mortgage, Main & repair, Vacancy, Cap Ex, Prop Manage & Cashflow. Im getting 1650 per month with both units.

If anyone could send me a PDF  of one of there spreadsheets or if they have any advice on how to organize this that would be great. This is probably simple for a lot of people but i'm more of a blue collar type of person and have no experience with this. Thank you!! 

@Kevin Mouck You should check out Meetup.com to see if there are any real estate meetings going on in Calgary. I can't see a city like Calgary not having one. I just went to one last week in Edmonton through meetup.com and it was great. Very active group that gets together once a month! 

Hello. Fairly Simple question. Im going through the process of buying my first duplex. I have no problem getting financing but in the near future i may be changing jobs. It will be in the same industry and will be getting paid around the same rate. I still want to invest in Real Estate in the future so I'm wondering. How long do lenders like to see that you are employed before giving you a loan? I have no no debt and decent savings. Thanks for any insight :)  

@Matthew Nore Welcome! Since posting this thread a few weeks ago i've now begun the process of purchasing my first duplex. Also looking at fixer upper for a BRRRR investment. Very excited for 2018!

@Brianne H. Awesome. LOC seems to be a very useful tool. I will go make some more appointments with other banks to see what they offer. Thank you for taking time to explain this in such detail! There are many helpful people on this site its great. Hopefully one day I can be of help to other people.

@Roy N. @Brianne H.

Is there any such thing in Canada that you guys know of where you can get another get another mortgage for a 5% down payment after a year of living in the residence? Similar to the FHA that BP is always talking about. Or is is just easier to go with the 20-25% down payment on your next property?