All Forum Posts by: Russ Wahl

@Mike Terry, as a fellow Canadian (sask prairie boy) can I ask how investing in the US works for you? My wife and I have a few properties here but would love to break into the Tennessee markets for an alternative climate and investment zone. We've only been REI for about a year and a half so we have lots to learn yet.

@Jordan Perry thanks for the feedback. I have actually been in contact with another local mortgage broker who specializes in investors. She had been a huge help.

@Tyson Robertson just wondering if you had to move out of your personal house and rent it to tenants before they let you purchase another primary? Or can you purchase it with intent to move in before you rent out your personal house? I would just like to move as little as possible. We’ve moved 5 times in the last 7 years already

@Ranjeet S. Hi there,

My wife and I are new investors around Saskatoon. We enjoy connecting with like minded people in the area.

We are a family owned and operated residential contracting team. We specialize in new and remodelled homes. We are currently executing the BRRRR method on multiple of our properties and happy to say IT WORKS!

If there is anything we can help you with please feel free to contact t us and we’d be happy to connect over a coffee, call or zoom meeting. Nice to meet you.

@Kyle Gryba hi Kyle,

My wife and I are new investors just north of Warman. Do you live in the area? Great to see local people on this site. Can I help you with anything?

@Tyson Robertson

Very true! We have have used those cards before. Affinity said that they could refinance at 70% ltv at a 4% interest rate. We said ok but other banks will do 80% ltv at 3% and they were like yep we can do that. All we had to do was ask! Today is another example. We took your advise and called them and asked if they would just allocate those funds from the refi to pay off the lines of credit first And they said sure no problem! Thanks for input! All we had to do was ask.

On a second note, my favourite strategy for a personal house is a builders mortgage. They will lump the land and the house into one mortgage and get in for 5% down as long as it’s your primary. Then with sweat equity you build/contract it yourself and you have major equity built in! We just finished our second house and we now have $160K in equity! I have an Amazing wife who hasn’t left me because the house takes 2 years to build so it may not be for everyone.

@Dayne Peterson the hunt is half the fun isn’t it? We love looking at deals as well. If you find anything that looks good we’d be happy to take a look. 

@Tyson Robertson

Thank you Tyson! Your answer was very informative. I will discuss these points with my lender. Do you mind if I ask which lender you prefer in Saskatoon? We’ve been using Affinity but their interest rates aren’t nearly as competitive as the “bigger” banks. Sounds like you also have much more experience in this game in our area then we would. I would love to connect with you to broaden my network around Saskatoon.

No the lines of credit and the credit cards have been used in the business for years already. They also knew that we were using these tools to do the refi. That’s why I don’t understand the issue. We’ll have a meeting with them and see I guess 

@Ryan Myers

How is your direct mail going? Kim and I were debating starting that this winter yet. Any leads? What are you looking for?