All Forum Posts by: Sam Hecht

@Nicolette Kiss I definitely agree with @Jody Sperling about house hacking being a viable strategy given your situation.

Here is a blog post on the BP website that explains it even further:

https://www.biggerpockets.com/blog/house-hackingcase-study

Its the easiest way to supercharge your investing early on.

Hope this helps!

@Nicholas Schwarte

"The Millionaire Real Estate Investor" by Gary Keller is a really good foundation to build your knowledge of REI.

Read most of the books that have been mentioned already, those are amazing as well!

@Rodolfo Goncalves

Exactly. Conventional loans are pretty rare under 100k especially since there are other debt instruments that are easier to acquire in the price point if 40k. Lines of credit and personal loans are typically easier to acquire than a mortgage (a line of credit is usually easier than a personal loan).

Just starting out my career as an agent in Montreal, Canada and there is no way I'd be able to do this part time. Once you have your license clients are tricky to acquire. Unless you partner up with someone who is already successful, it can be quite some time until you've hit your stride and have momentum. I can't imagine trying to build my business only part time as it would take even longer than it's current trajectory. 

I was in a pretty similar position to you not so long ago Davonta. If you wanna reach out any time I'd be happy to chat!

Sam

Have you tried getting a personal loan instead of a conventional mortgage? A lot of the time a mortgage can be tricky to acquire when the total price is not so high. There are many financial institutions however that will issue a personal loan of $40,000. Are you trying to sell and then purchase another property?

Hi Jason,

Typically contacting a seller directly without going through the listing agent (especially if you are a buyer) is a bad idea. Seller's dont want to interact with buyers in any capacity. One of the reasons that seller's hire a listing agent is for that agent to handle interactions with buyers, or with buyers' agents. Perhaps if you are having a hard time with this listing agent, then it might not be a great deal to start with. I'd say messaging the seller's on Facebook would only diminish your chances of closing.

Hope this helps!

Any Canadians attending BPcon this year?

@Maxime Charmettant

Feel free to message me!

Hey Rhiem,

Wholesaling is definitely possible in Montreal. You'd need to find a wholesaler, who you'd be able to purchase contracts from. Are you looking for advice on how to meet a wholesaler, or investing in Montreal in general?

Feel free to message me anytime!

Sam Hecht

Hi Daniel, 

Zumper has average statistics on rental rates based on the number of bedrooms at this link:

https://www.zumper.com/rent-re...

If you wanted more detailed rental prices a real estate broker can get that data from Centris. Direct message me if you would like help accessing those tools, I’d be glad to help you find the info you’re looking for. 

Sam Hecht