All Forum Posts by: Samuel Sedore

I dont know or use this 2-3% rule and I will research it to see whether or not it works in canada. I use the 8%+ rule, if the yearly rent is at minimum 8% or more of the purchase price, then I start my due diligence to further inspect the property.

In Canada our cash flow rates are much lower, this is mainly due to the fact our market stays strong and constantly appreciates in the good areas even in down markets. Of course depending on which American area you are comparing it to.

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https://www.google.ca/search?q=leaf+funnel+chart&espv=2&biw=1366&bih=643&site=webhp&source=lnms&tbm=isch&sa=X&ved=0ahUKEwi50frZmNTJAhVLtIMKHdtlB34Q_AUIBigB#tbm=isch&q=lead+funnel+chart&imgdii=87yBTsPk2hVqAM%3A%3B87yBTsPk2hVqAM%3A%3BTJclPDcKBcVaZM%3A&imgrc=87yBTsPk2hVqAM%3A

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Originally posted by @Vuk Dulanovic:

Hey all,

I am interested in learning from the experts the best ways to market cash flowing, turn key properties? I've done the usual (Postlets, Craigslist) but are there any ways that any of you have tested and found work well?

I have my cash buyers that I market to up here in Canada, but with the US dollar becoming more expensive for us, these buyers are starting to slow their activity, temporarily.

So, does anyone have any innovative strategies that you think I could focus on to build my list in the US? Any help is appreciate

Do you have an online lead funnel? Great way to generate more leads online in your target market. Best thing I find is to give away your most valuable products and information for free and build trust.

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Good find! I would recommend having a very educated home inspector or structural engineer do your inspection, heritage buildings are tricky and have hidden issues. go the extra 10%, if you think its a great deal and the DP is holding you back. Consider a JV to raise the additional cash.

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It depends on your amount of free time available when deciding whether or not to hire a property manager, if you don't mind the odd random phone call to fix something it's not so bad. Renting out can be the more difficult part in an unfamiliar market. Even when self managing its always good to have a local handyman contact anyway, you can pay them 30-40 an hour to deal with little issues that are not worth the drive.

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Originally posted by @Brad Zalischuk:

Hey there!

My name is Brad, I purchased my first home at 22 years old and have been living in it with two of the rooms rented out to cover 100% of my mortgage.

I've been saving and I'm itching to purchase my first income property. I came to this site to learn as much as I can in order to make a calculated decision on where to start.

My goal is to eventually live solely off of rental income.

I excited to start this adventure and hope I can learn a lot from all of you here!

Hey Brad welcome!

You will have to fill me in on Brantford sometime, I noticed that there are good opportunities for cash flow and being 30 minutes down the road from my market Iam sure growth is on the way.

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Okay that makes sense I wasnt aware second mortgages or liens in Canada could also be referred to as notes. I have always known them as a "charge" mortgage or lien

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Originally posted by @Roy N.:

@Nick Ovington

Contrary to the information you received above, you can buy notes in Canada. However, the market is much smaller than in the U.S.A. - naturally, we are ~1/10th the population - and financial practices are a little different.

Performing mortgages that are "securitized" are going to be held predominately at the institutional level (Pension funds, corporations, etc). What you and I encounter at the street/retail level are more apt to be from third-tier lenders (higher risk), private notes and, quite likely, non-performing.

Where in Canada can I buy tax notes?

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Originally posted by @Jen Faulkner:

Maybe we're too strict. I just want to feel out other opinions. If you checked someone out and found out that they were arrested for theft in 2007, but they were never convicted, how would you proceed? I've had a vacancy for a couple of months, and for the most part, I've turned people away because they've had assaults on their records, or they have a record for breaking into cars, etc. Today I screened someone who fits the above description, and I find myself wanting to turn her away too, even though she wasn't convicted. She does have a child now, so that definitely changes people.

What are your criteria for accepting/refusing people?

I think you should look more at them as a whole profile, I know people who have been arrested and never charged because a jealous ex lover called the cops over a fight you just never know.

If she has a great credit score, Landlord reference and has been gainfully employed for 3+ months and her boss gives her a good review. I would say the arrest shouldn't matter.

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Originally posted by @Nick Ovington:

thanks kory;

Good points. What are the numbers like in Hamilton vs kW...higher cash flows?

Thanks, what about new developments...are they a good ideas...heard if you,get in early it's good...problem is, you don't have money coming in, and you better have the cash when the house is built...thinking you can use your heloc....or second mortgage for this....just wondering if new is good or I should stick to single family's Ina certain area

Samuel, what are good areas in kW to look at for good cash flows...student rentals scare me a little..but maybe I'm wrong. With co signers can it be that bad?

Thanks guys for,you,help,so,far!

I couldn't tell you which city has higher cash flow because it comes down to so many different things. I stayed away from Hamilton to start with because I hate the traffic in and around the city and thought it would make future management an issue since I have no intention of living, there, research suggest its a strong market though its number 2 behind kitchener and cambridge.

http://www.reincanada.com/aboutus/media-news/press...

I would stay away from student rentals in KWC, the market is completely saturated with high rises and its getting tougher and tougher to fill vacancy. My focus is multi-family anything with 2+ units less than 6, I don't like single families for several reasons and I can send you an article if you would like. I look for multi-family properties that cash flow around 100-200$/m after all the variables. Like vacancy, repairs, management which when everything is running smoothly equates to around 600-700, as a begginer property I would reccommend an older purpose built duplex or triplex. You can pick them up around 275-350k in Cambridge and Kitchener and find that type of cash flow, with the bonus of owning in one of the fastest growing markets in Ontario.

If you are interested in any market though I would recommend you have a KNOWLEDGEABLE realtor specific to that market to advise you. They should be able to determine cash flow and potential before even seeing the property. Anyone trying to stretch their boundaries is looking for a quick sale be wary of thier true intentions, I used to play sports in Orangeville but would never try to advise someone on investing there due to my lack of market knowledge

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All Forum Posts by: Samuel Sedore

Samuel Sedore has started 8 posts and replied 387 times.

Post: Note buying

Post: Innovative ways to find cash buyers?

Post: Innovative ways to find cash buyers?

Post: Seller Financing in Ontario Canada

Post: Note buying

Post: 24 Year old New Investor from Ontario, Canada

Post: Note buying

Post: Note buying

Post: How Strict are You in Screening Tenants?

Post: Note buying