All Forum Posts by: Samuel Sedore

@Brandon White

Look outside your market like a lot of people here are reccommending, study local economic trends when picking an area make sure the math works don't just look for cheap properties that cash flow, you also want strong growth. I would argue that any condo in Toronto is commodity and if you dig deep, it's tough to pinpoint their value and growth which does make it a risky investment with no guaranteed appreciation. By this I mean the only reason they are built and sold is based on affordability not really demand http://www.macleans.ca/economy/realestateeconomy/the-vacant-truth-about-rental-condos/

Out of the 3 mentioned earlier, Hamilton has in my opinion and also based the numbers, the strongest growth and long term upside. I know investors in all 3 cities, they all make money, but St catherines and London are likely only going to see 2-3% or even slower growth over the next several years. If st Catherines gets approved for the GO train though I would give it much more consideration.

If you need a referral for any of the areas I have investors, realtors and property managers colleagues in each.

@Thomas Forsythe

I hold a local investing group in Kitchener, If you have the means and enough spare time to get down here in the future I wouldn't mind you coming to speak and tell your story.

•  Thanks for the update being a Canadian I'am not abreast on your current laws, just what i read down the grapevine. While the criminal eviction system was a little further then I think necessary, I liked the fact there was an area with laws as favorable towards landlords as my province is towards tenants.

Wow great job keep it up! This would make a great story in an investing book!

All major markets are incredibly hot right now, KWC is absolutely ridiculous. I still manage to find my investors great deals though.

You may need a better realtor in the Niagara area, someone a little more motivated for finding high quality investment properties. 

I find the best deals at this point are either off market or sold within the first 3 Days on the market of the MLS.

I'am chiming in just to watch this post. I have some investors out there I can refer to your group.

I host a monthly meetup in Kitchener(based on KWC), different monthly speakers along with my presentation on current market growth and the factors effecting it.

I think you guys are forgetting that averages mean nothing on a grand scale....

Stats Can is to be taken with  grain of salt. If you have 10 people, 1 makes 1 million and 9 make nothing, on average they make 100k each. Obviously that's not accurate, but something similar is going on in those markets. 

I compile my own stats through raw data by using medians for real estate, stats can averages are just a good secondary citation.

Biggest misconception in the Toronto and vancouver market is that people own, majority rent. Therefore the household income has little to do with the affordability in correlation with home prices. Most people who own there bought years and years ago, and the people buying now, research suggests are using OPM to borrow for down payments mainly parents, or selling and moving up.

Most people are NOT investors, when they get a raise they say: We have an extra 1000/m coming in, that means we can afford a bigger house new car etc.

I think personal finance is important, but if everyone knew how to maximize there $, I can imagine there would be a lot less left on the table for us. 

 Yeah mr Wybo would be my first attempt as he likely knows a couple.

All lawyers are different, employment lawyers are not uncommon to want money up front as its very unlikely they will win, so they try to squeeze out all those pennies ASAP. I could refer you a couple but there's not much of a point since I'am about 90min away. But if shoot me a pm if you run into issues finding one.

FYI depending on the agreement, probably be about 300-500 to clean up if it's around 4-8 pages from my experience.

A big part of it is lifestyle, 99/100 people don't invest and have no ambition to. For them it makes perfect sense to just pay that mortgage off and live debt free.

Also if someones living in Toronto and owns a home they love the city, there is really nowhere comparable to move to that is cheap and offers a similar lifestyle.

Friend of mine pay 2950/m for a 2 bedroom condo, because of location and lifestyle. Not logical but thats Toronto