All Forum Posts by: Simon Savard

@Russell S. Nop. No US partner either.

@Account Closed Thanks for the advice. I've already got one partner for the buy/rehab money, what I have issues with is really the refinancing part at the end of the strategy. I've tried a couple of private lenders for a long term loan but without results for now.

Hi everybody!

The tittle pretty much says it all:

I'm Canadian and I live in Canada. I'm looking for properties in the city of Rochester to do the BRRR method at the moment. The properties I'm looking for would have an ARV between 70 and 100k$. I find it difficult to find a lender that would do mortgages in these ranges for a Canadian citizen/resident.

I don't want to create an LLC at the moment, since this creates double taxes issues for us.

Anybody to recommend?

Thanks!

Hi guys!
I've been looking around to find financing for a BRRRR in upper NY state. I'm looking for a project that would be roughly around 50-75k$ all-in, and most of the lenders I found won't finance below 75k$...

I recently stumbled upon Patch of Land loans. The products and fees they offer are interesting, and they could lend in the range I'm looking for... but I've also seen many forum treads stating how much of a pain the experience of investing money through them was...

I couldn't find much info about experiences taking a loan with them. Is this a good idea? Am I running into trouble?

This would be my first loan with private money, so I'd like to get your input on that!

Alright, thanks Marc and Frederic!

@Matthew Drouin I'll be careful with that, thanks for the input! The reason I'm not investing in my market at the moment is @Mark Updegraff talked about in his last comment:
Vancouver: The prices are insanely high for rents that did not follow the inflation of the market.
Quebec: Hard to find good deals to BRRR with. The price of labor is almost 4x as expensive than the labor in your area!

Alright @Mark Updegraff, thanks for the input! I'll be looking at these areas.

Any areas worth looking at other that in Rochester itself?

Hi All!

I'm new to real investing in the US, and I'm looking for a first rental property in Rochester. I've noticed quite a broad range of prices and general conditions in the properties from neighborhood to neighborhood, even on pretty short distances. From good ol' Canada, I find it a bit difficult to determine the potential increase of value of a property and the actual quality of a neighborhood (based on Google street view....).

I have a real estate agent working with me on that, but I thought I'd still go out here and ask for your inputs:
What area should I aim for in Rochester (or around) for a BRRR investment?

Thanks!