All Forum Posts by: Samuel Sedore

Do invest in Hespeler? I do Multi-Family in Galt and look for 300+ cash flow a month but ideally 500+. Noticed the Multi-family market in Hespeler is fairly rough, but SFH seems to be pumping. I don't think my brokerage has had a SF Town home last over a week.

While you are right,Ontario is also one of the most consistently growing provinces next BC. While there are easier places to invest and perhaps better opportunities elsewhere, I would rather maximize my returns in my own backyard and identify the best areas, then go out of province and put my faith into someone else expertise. I have no problem finding properties with 20-30% ROI, in my opinion that's a great return. Even with headaches.

I personally have never had any issues with tenants, I have a screening system that seems to work well.

Checkout meetup.com! Look for a local REI group, You exchange some valuable knowledge and nobody will try to sell you on anything. I have found they are the best resources, I hold here in Kitchener and I know some colleagues with one in Thornhill and Oshawa if you're close to those markets I could refer them to you.

Agree with @Doug Pretorius

Also would like to point out, in Canada specifically more then the U.S, average home price is 350k here and you need 20% for an investment property from the bank. Not sure on U.S lending policies for down payments.

Seller financing allows less than 20% down and no qualification. If you have bad credit, new job, self employed, etc. Even with an owner occupied at 5% down payment, qualification can still be difficult for most with a maximum of 33% and 41% GDS and TDS ratios

Could you reject the applicant based on the face they are hurting the quiet enjoyment of the property by the other tenants?

I.E unit b has a dander allergy and since the building is forced air you having a dog will cause discomfort?

Show your value, I know some here that offer 0% vacancy because they are that confident in their services they will eat the vacancy costs if one happens. They also charge 8%, but in my market rent is 1600-3000 for the average property so maybe it doesn't make sense in yours.

if the numbers work then go for it. My concern for you would just be that as realtors we have way more access to end user buyers who pay more. Generally when the public won't pay a certain price and investor is much less likely in a wholesale situation.

Although being in Canada we have nothing that sells anywhere near that price, so your market could work differently.

 Happy 5000th Can you remember your first lol?

Have never heard of someone in Canada using this practice, mainly because it's so difficult. Just wondering how often you do this as it seems you have some experience in the matter.

My opinion would be that if the criminal has great references from landlords and jobs, along with strong credit and a NOA that checks out, why not rent to them? Repeat offenders would be a different situation, but everyone makes mistakes.

I can find some good cash flow still in my market, most recently an investor just purchased one I found with 600-900$/m positive cash flow. Not abundant but still possible, although with the appreciation we have been seeing it is getting very difficult to find them. We are starting to creep into the double digit appreciation in Kitchener, this month was 9.9% up from last. 

Still some great opportunities in Cambridge though if you are ready and willing to pull the trigger quickly, generally 2 DOM and they are gone.

if it's listed with a realtor my concern would be why they didnt list it higher if there is that much profit to be made. Although a realtor involved does not mean you can't wholesale, just add an assignment clause into the contract