All Forum Posts by: Christopher H.

@Nathan G.

How about this one in Vancouver. https://dailyhive.com/vancouver/vancouver-city-council-ban-no-pet-rentals

Ending 'no pets' clauses

There is so many things wrong with this motion where does a guy even begin?

We have an issue with rental supply and an even bigger issue with affordability in BC. This is specific to Vancouver for now.

This will raise rents and lower inventory. The exact opposite of what they need.

But.. it was a good way for a city councillor to win some votes from renters who thought they were being looked out for. Pretty sad in a way.

Anyone had this implemented in there city?

@Jordan Wharton

Be picky with which investors you want to work with. Make sure they are a good fit for you and the strategy you want to execute.

Not all investors are the same. Far from it.

@Amanda Schneider

I agree %100 with having a why. Your why is your guide for decision making. It gives you direction.

Here's mine:

To Spend my time, knowledge, and energy on my passions in exchange for fulfillment, wealth, and purpose.

This is WHY I do what I do. One of my biggest passions happens to be investing in real estate. I used this to paint a picture for myself of the future. Then I used that to create goals. Followed by a bit of planning and action.

Now whenever I need some direction or have a big decision to make the pressure is off because I probably already have the answer.

Thanks, Amanda, for bringing up a great topic.

The advice from @Jay Hinrichs is bang on

The other thing to consider is.. do you really want to be %100 leveraged on your first mf deal? Or any deal for that matter. Especially if your market is booming like many are. That's a real heavy bag to be caught holding.

Several deals under your belt gives you credibility and proof. Your primed to look for an equity partner!

Just curious.. You have done several deals on the same strategy? Did it work? Is there a reason your straying away from that strategy?

No need to fix what isn't broken. If that's the case. :)

@Jacoby Lewis

Boom!

Congrats!

@Daine Johnson

Well done @Daine Johnson

Leverage the equity in your property to buy another and increase cash flow? Not a bad strategy you have there.

Find a great deal, and do it.

One thing I'm seeing here .. why do you need 1-2 months to complete the Reno's? If there is just that much work to do than that is fine.

If your sitting on your *** drinking beers instead of smashing those Reno's out your costing yourself cash. Be honest with yourself Get the Reno's done as fast as you can and get it out of the way.

You're on track, mate. Off to a fantastic start actually by the looks of it. Keep going you already know what you need to do.

Keep us posted on those Reno's. No excuses! :)

@Jake Ernst

If you have the capital it might make sense to JV with a more experienced investor for a deal?

Is there an investor in your area that is a close model to what your trying to achieve? Aka a role model!

Would it make sense to do a jv so you could tag along and see how they work? How do they find deals? When do they go look at them? How do they handle their realtor? Are they even using one? And so on.

I'd challenge that over time your returns could be exceptionally higher by doing a deal this way first.

I bet we have some pretty successful investors from your area on BP. I would also bet one or more of them would be open to making money and teaching you a thing or two while they do it if your providing the initial funds.

Just a suggestion.

Good luck!

There is so many newer investors on BP that can learn from this.

The lesson here is that the best deals are created not found. This is a real investor doing his homework, finding the edge, and executing.

@Nathan H. Congrats on the deal and thanks for sharing this.

@Russell Butler

They are testing pilot programs to focus immigration efforts to smaller centers rather then just TO and Van.

Check out the RNIP https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/rural-northern-immigration-pilot.html

If this program is successful your going to see it running again at a much larger scale. These are solid middle class types. Good tax dollars. Consumers and renters.

For investors like me that focus on the okanagan it is going to be a nice boost. Vernon is on the list for the pilot. this type of program at a mass scale will send a significant portion of immigrants to the okanagan We already have one of the best long term growth markets in canada. Other cities/areas around the country will benefit from this type of policy in a similar manner.

@Shrey A.

I really appreciate your detail. Your obviously focused and working diligently.

There has been a lot of great responses so far so I'm just going to leave one thing you can consider.

I might be off track but it seems like you might be looking at the numbers and not the deal. They are different things! Numbers are a part of the deal. An important one, but just one part.

What you're looking for is opportunity. You need to find a way to create the numbers you want!

An example would be adding a suite to an unfinished basement or adding another bedroom to an already finished suite. Maybe it's a rezone to grab quick equity or a brrrr to keep your capital.

There is a lot of ways to do it. Not to say it's easy, but if you don't know what I'm talking about then take a step back and consider.

Whatever you do - do not stop. Your going down the right path. Just like with stocks though you need to be strategic and patient. The deals are there you just haven't figured out how to spot them.

It's all my opinion so do with it what you will :)

Happy investing!