All Forum Posts by: Samuel Sedore

its up to the agent. I have enough confidence i never go over 30 days. Although i believe 60 is the norm any agent using 1 year holdover periods is definitely not looking out for their clients best interests.

@Doug Pretorius is correct 95% of realtors don't know the difference between investing and the back of their hand. Anything not normal will just scare them away. Also investors don't get a great wrap either, considering most have no loyalty to the realtor only the deal and some will attempt to create back door relationships with sellers to avoid commission . From my experience the average realtor wants nothing to do with an investor.

I had VTB on fanshawe student rental I had to let fall apart due to insurance costs and difficulties. A large portion of that may be due to my age though as I'am not older then a lot of those students.

I partied there in high school pretty fun stuff and we wrecked a lot of houses, but in the same breath not every house was a write off. Some students locked their doors and kept away from the crazyness.

I would say if you're tenant screening process if good it's great for cash flow. I wouldn't recommend it for the lazy turn key style landlords, or one without a good PM referral.

@Peter Crisp Good observation in regards to the auto industry, in my opinion London, Oshawa shouldn't see a decline and neither should we in the KWC area as the cities have done a good job of slowly bringing in more diverse employment. London and Oshawa have large amounts of government based employment in hospitals and education systems and here in KWC we have diverse manufacturing and growing tech sector.

But I have been seeing a large influx of Windsor and surrounding area residents coming out our way or to Hamilton. I have a tenant right now renting in Cambridge selling his house in Chatham because he couldnt find work.

I'am sorry I thought the topic was how to purchase without someone owing the realtor a commission. Depending on the wording if using a lease with option to purchase the commission remuneration shouldn't apply. As long as the sale is done after the holdover period.

I would do a lease with the option to purchase and wait until the contract expires.

The sooner the better from my experience as a realtor if the sign hits the ground the same week you tell them they will feel betrayed and violated. If the property doesn't sell you have to deal with angry tenants. Make them feel as though they have a say in the water even though they don't, use phrases like if you don't mind and would you be offended.

I.e Would you be offended if I had people through to view the property starting next month as I'am considering putting it on the market. 

@Arsenio Wilson 

Finding sellers is the toughest part of wholesaling. Specifically with how hot of a market you are in, FSBO are selling properties without realtors in very short periods of time. Keep trying, but don't bank on finding a deal without a ton of footwork.

Wholesaling in my opinion is the hardest way to make money investing in real estate. If you do find a flip let me know I have cash buyers as well.

Good Luck!

@Sarah Larbi

I always forget to mention the include Cambridge in the KW area. Personally I own 5 doors in Cambridge I love it! I get cash flow plus we saw 5.8% appreciation last year so best of both worlds. Cambridge there is an under supply of good condition rentals, I find most units I come across are about 70% under rented. We don't compete with Brantford cash flow though, especially some of the tougher areas in Brantford. I have had some clients from there and was told Brantford is profitable if you're screening techniques are good

Kitchener will see greater appreciation because of the LRT and google, but we are suppose to be seeing an LRT extesion shortly after.

Also if you're interested in London I could refer a friend of mine, hes an investor but just got his real estate license and is looking to stay investor focused

I stick to my market because I know it in and out, but I would say pick either KWC or Hamilton if starting anywhere as we are the 2 fastest growing area in Ontario, while still maintaining a reasonable price entry point. Oshawa, Whitby area is also fantastic for growth but is becoming more un-affordable. London is great for cash flow but has slow steady growth. Although anyone can find success in any market, Oakville is expensive but I'am sure this is opportunity somewhere in your backyard.

I try to focus on anything in my area with an 7-8+% cap rate not easy but achievable, also must maintain positive monthly cashflow.

Although it's getting tougher and tougher, we say over 6% appreciation last year and Toronto money is starting to flow into the region raising that number even higher.

http://www.meetup.com/K-W-C-Multi-Family-2-units-Investor-Mastermind/  Come check out my monthly investor meetup if you're curious about my market and networking with some other investors. Next months guest speakers are actually based out of the Oshawa area.

I moved just over an hour west last year to start my career in real estate. Slow start but when things get moving its great.

I would say find a young and hungry realtor, one that has only done several deals. Realtors hear that so much, it's nothing personal it's just that over 50% of the people who say something like that are generally just tire kickers looking for perfect deals.