All Forum Posts by: Sam Hanaa

@Hugo Lo :  thanks for the numbers, that is correct 350K is hard to cache flow with one rent. As for getting positive cache-flow with time that is correct at least in theory, because rent get to increase with inflation rate , while the mortgage stay the same (assuming increase in interest is neglect-able ).  

@Thomas S.  you mean Kingston , etc ?   I am more familiar  with the west side (Hamilton , Windsor , London) , I never been in the east side cities , but it worth doing a visit this summer. 

@Christina Wasley: Yes , I use it in all my calculations  ...  Burlington is out of my budget, it seem even more expensive that Brampton , maybe because the houses are newer. I am actually handy man and can do more minor to average fixes in house. but if the house is far from me to drive I ll need a property management to take care of that . 

Hi Jay 

Can you share how can you positive cachflow in Brampton ? 

Basement + upper level =3500 

Home prices : 650 + for home that is good enough to be rentable .

Did I miss something? 

Jacob : why not , will pm you my number to have some chat. 

Hugo: would you mind sharing your  home price , cacheflow nimbers ? The reason why I ask to all benefits from experience of each other as most numbers on this website is for USA houses

 I checked the kijiji, it sound like full house can go for 2400/month in Burlington, without basement will go for less . 

check my analysis here , even with 3900 monthly income  it only do $35/month cache-flow. with any mistake and you are in negative . 

only doing that to prove how hard is to get healthy cache flow in Ontario with current house prices .

I don't know about location , however 

1- old buildings require more maintenance so you should have high cache-flow to cover the extra expenses. 

2- QC rental laws are extremely sided with renter and increasing rent is very limited and regulated .

3- when it was last renovated ? some old building get sold for less because they need to be reconstructed. 

Good luck

 Dont force yourself to do deals when it is too expensive, I too find many materials here more suitable to US market than Canadian (specially Ontario ) market. 

That is what I though too  @Shawn Kay  , however doing such modifications can cost another 25% of the home price , and will end up putting more cache into the unit. 

I think if you are in GTA , or even in Ontario in general , you need either to be construction contractor or partner with someone. I feel disconnected from the materials on this website as it hardly apply to our market here. 

I keep looking for deals in GTA mainly using Realtor, and most of them have buy/rent ratio high enough to push me to negative cash-flow. the one that make the equation are only the ones that require too much repair. Have anyone had different experience  to share? 

Sound like good profit, can I ask how did you guys grouped together to buy that plaza ? were you friends or something ? 

 I was actively looking for multi family , and I had a chance to visit some multi families building in London , and to be honest every family /person I saw in that buildings seem like a big trouble . so currently I am looking for better houses that professionals can rent them, especially with current laws in Ontario I dont want to deal with low quality tenant. 

Example : one of the tenants kids (and maybe by direction from his parents ) doped colors and paints on a wall that was just painted by the owner to prepare it for selling . 

I am not discouraging you, but showing you how bad things can go. 

Building is from 1955 , you should put more for maintenance unless it was renovated lately, if you are first time investor , I would look for better cache-flow that this one have. as you might be at risk of running into negative cache-flow