All Forum Posts by: Salvatore Giancola

Both have good futures ahead. And picking either would be better than sitting on the side lines. The choice would be dependant on you, your goals and comfort level, as well as other factors such as purchase price.    Are you comfortable with investing remotely, are you focusing more on appreciation or cashflow? Windsor has appreciated substantially in the past 2 years but due to high rents, it's still relatively easy to find a ~10% cash on cash return without requiring Reno's etc. And purchase price typically lower than Hamilton area (depending of course on what specifically your looking for). I can't speak to much regarding Hamilton as I am familiar but holding no properties in the area. I invest remotely in the Windsor area. If you have any questions regarding Windsor market, feel free to reach out directly, always love talking real estate. 

Hello there,

I recently had a similar situation where I was debating selling vs heloc on my SF rental. My agent helped me run the numbers and showed me what my options were and what my numbers could look like if I sold and bought vs if I got a heloc for down payment. 

For me cashflow was most important (over potential appreciation, etc). We decided to heloc for down payment, that was a few months ago and am in the final stages of the process. So take the time to capture the equity into account. Banks have a lot of processes and need lot of paperwork, it takes a while. 

Id be happy to share my agents info with you. He's been working with investors for years. 

@Thomas Pollard Thanks for the info.

currently we were looking at the Kingsmen Sugarwood community.

They have freehold townhomes starting at $329. a 3 bed 2.5 bath 1400 sqft townhome for under $380k seemed reasonably priced. but at 20% down, I would have an approx $1700/ monht of expenses. not sure what rent is in the area, but not confident this would cashflow positive. wouldn't close on the home until July 2022, so would hope for appreciation and rent to catch up.

Any thoughts on the matter would be appreciated.

Thank you,

Hello BP community,

I have recently started looking into Lindsay, Ontario market. Peterborough area seems to have done well the last few years, and Lindsay is only a 30 minute commute to Peterborough.

If anyone is familiar with the area, or can suggest a thread on BP discussing the area, that would be a big help.

Preferred strategy is simply buy & hold, so looking for cashflow positive SF homes.

Thanks everyone.

Hello BP,

Hoping to get in touch with anyone who is doing BRRRR deals on Windsor.

Hoping to be able to do my first BRRRR this year :)

If anyone has any good tips or strategies on the best class of properties (SF, MF, Student rental, etc) or advice on what areas do well vs others for BRRRR's, I'd love to hear from you.

Thank you

I did this on my first rental. Mortgage with CIBC. When I tried opening a HELOC they said they couldn't because the company name owned it. I can refinance and pull the equity out, but couldn't get a HELOC.just something to consider

Hello BP world,

I'm trying to run some numbers on a student rental we're hoping to put an offer on.

Issue is, I really don't know how much to factor in for utilities (water, gas, electric). I guessed at $400/month but really don't know if I'm way under or over.

I know this greatly depends on the house and the tenants, but just hoping for way to get a decent budgeting number.

Brief summary of the student rental :

1 + 2 bed duplex, with a third unit in the basement, 3 kitchens 2 laundrys, 3 bathrooms. 2.5 story. Estimated about 1600 sqft.

Any advice is appreciated.

Hey Michael,

I also have 2 SF rentals right now. My wife and I are 2 months away from closing on our first primary residence. I've thought about multi family, seems like it's a different skill set but there's more upside to it. 

Looking forward to seeing some great posts in this thread. 

Hey Brody,

Welcome to the community. I invest remotely in Windsor. Have a couple rentals and have been enjoying the market in the area. 

Feel free to reach out and talk real estate. 

Hey Kieth,

I currently live in Toronto area and have 2 SF rentals in Windsor. Prop man usually charges 8-10% of rent, with fees for finding you new tenants etc. 

I'm just starting out myself so figured I'd save the couple hundred bucks a month and remote self manage. 

Fpr the most part it's been simple and a fun experience. Just finished with a tenant turn over, had to hire a hvac tech, duct cleaners, junk removers and cleaning company. But got the house tenant ready in under 2 weeks. 

Side note : I've literally never seen the houses with my own eyes. Purchased it after seeing pictures and hiring an inspector, and sub out any repair work needed 

Hope this helps, enjoy the Windsor cashflow.