All Forum Posts by: Ross McKenzie

Hey Jimmy.  I'm a newbie and lived 10 years in Montreal.  My Dad bought a very nice new house in nice subdivision in 1967 for $23,000.  Quebec used to be the best priced real estate in the country. It's a beautiful province, and Montreal is the most happening city in the country - and the Quebecois are the best!  The Italians come in at a close 2nd!  Good Luck!

Greetings David. I'm an REI newbie too. I wish you a successful 2015!

Good Day Zoran & William,

Thanks for the Wordpress nexustheme concept.  That is precisely the type of website I am looking for.  That was what John Steele & others were also attempting to convey.  (My existing Wordpress platform (another "business"), does not give me any choice in themes at all. And I understand now that we modifying & customizing website design is a relatively simple skill that every business owner must have.

Thanks for sharing passive squeeze page philosophy vs spam, and confirming that our integrity is conveyed in how we do business, and is refected in the quality of our contacts.

Thanks too for PPC info.  I will certainly not waste my money on that.  

Regards.

Good Day Tim & William,

Not at all sure that I'm following proper protocol here, as I don't seem to have the ability to reply individually to posts within the forum.

Many thanks for your input. To me it's very clear that a business needs a website, and I'm looking for one that is professional looking, and requires minimum amount of designing. I don't pretend to be a designer, and I think that that would  likely be evident in my product if I tried to be.

I've not tried Pay-Per-clic yet, although I was contemplating doing so for SEO.

I'll look at the Wordpress Options.  I like the Squeeze page options on your site Tim. I'll look at WIX too, but WIX seem to own your domain, (yet I'm not certain of that).  Go Daddy is an option too, but I'll likely use someone that offer's Real Estate Investor turnkey websites, providing that they're not sleazy.

Speaking of which, am I the only one that hates the word "Squeeze" page? To me Squeeze Page sounds like Sleaze Page, (which it is not - necessarily), making it sound like I'm extorting information or taking the guy and going through his pockets, or shaking him down, or somehow violating him.  I know that "Landing" page is insufficiently descriptive, but why not call it a "Contact" page?  ... Likely because it's not aggressive enough.  A squeeze page to me is one of those annoying pop-ups that will not let you do anything or have anything until they exact the toll of your information - vs a contact page, which gives the individual the option of calling if you've interested them in what you have to offer by a show of your integrity and what you have to offer.

Regards.

Welcome Tanya. Fellow Newbie Canadian here (Vancouver Island soon - Salt Spring at the moment). You'll do well. I think there's lots of active REI guys in Van. Maybe one of them would take you under his wing for a while, (from my limited experience, that's the fast track - and who doesn't like to play in the shallow end).

Always nice to get a Canadian's perspective on this business.  In the last few days I'm already heard from a couple of great Vancouver Pro REIs.

Regards.  Ross

Marcus Please stick to your original plan.  A mil by 30 is amazing!  Really!  Especially if you're taking the time along the way to smell the roses and round out your life.  If you do it sooner then all the better.  My main point was 2-fold; 1. A time frame is a good idea, and 2. You will likely only succeed to the extent that yo believe is possible (and everything is possible - Law of Attraction 101 - Abraham Hicks).  Regards.

Congratulations Marcus. With an REI interest and thinking big at 16 you with certainly be successful. You appear to have time because you are so young, but if there is to be a huge market correction or economic downturn in the next 12-18 months, then that will be the time to strike it big. My humble suggestion, and I'm a 55 year old Newbie from Vancouver Island BC, is learn from everything Bigger Pockets has to offer, and consider asking for a Mentor to show you the ropes. And change your blog goal to something more ambitious - something like; becoming millionaire by the time your 21 (or 19), or to become a multimillionaire by the age 30. (A mil does get you much these days). Although I just read a post yesterday from guy in the USA who went from zero to a Mil in 12 months. Ross.

Hi Evan,

Hope you don't mind a Newbie jumping in on conversation.  So keeping that in mind, take my opinion for what it's worth,

Sam & Stephen are of course right in that that you need comps (comparative prices for similar properties) for the property, (which I'm presuming is a condo - as I understand avg Toronto price to be similar to Vancouver - about $800K). 

Alternatively, if you followed Quick Tip #1 for Buying Your first Property, then you already have a good idea of what fair market value is, (except you cannot compare what people are asking for properties, or assessments, but rather, what similar comps have sold for in same neighborhood). Tip #1: "Look at lots of properties before buying - Look at 100, make offer on 10, and buy 1".

Only way I know (and certainly the fastest way) to get comps is ask a Realtor. The rule is to get 3, (ie from 3 different Realtors). REI-friendly Realtors will work with REIs becasue they expect future business, (and I'd cut them a check anyways).

I'm new, but I think the Rules that work in the USA will not work in Canada, especially Toronto & Vancouver; the 1% rule, the 50% Rule, the 70% rule. They make me laugh! I think a $5K profit on an assignment is good, (after taxes & expenses), BUT it's all about the math.  Your selling price must truly be so well below market price that it will get snapped up (offer to same Realtors afterwards), unless your OK with buy & hold as an exit strategy - but 17% margin as a rental sounds risky in today's market. Alternate exit strategy - are you OK with living in it? 

If it is in fact a condo, then beware of new "Depreciation Reports" that are becoming law in BC, and perhaps Canada, making it mandatory (to the best of my knowledge) for Condo owners to some degree - I'm not sure of the details - but one $300K condo building I was looking at, asked each and every condo unit owner to cough up for $100K for repairs, (and that usually means cash, because remortgaging at today;s low rates could be costly).

Last time I was in TO, I saw what appeared to be 100's of new condo developments / buildings - and that looks like a buyers market to me.

Hope that was of a little help.  I would have kept quiet if I had seen at least one other Canadian pipe up.

Regards, and good luck.    Ross.  Vancouver Island, BC

Thanks Pawan for assignment detail.  Love your website, and your amazing projects.  Ross

Thanks Roy,

Ross