All Forum Posts by: Thomas Lorini

Awesome!! Keep it up 

Awesome stuff @Guillaume D.!! Love hearing other fellow Canadians doing it!! 

Keep it up!! 

Thanks for the responses @Jacob Perez@Rob Dowsett ...so who's on title with the properties you JV? I too vet my partners and haven't had any issues, but if we assume the partner took a mortgage and titles in their name, theres at least some level of risk that they could sell the property without any benefit to you. That was why I had thought of adding the encumbrance.

Hey Rob Dowsett Jacob Perez or anyone else, when you setup your JV's in Ontario Canada and your not on title due to your partner qualifying for the mortgage, do you later add an encumbrance to title? This way adding a layer of protection for yourself.

I own several properties in Ontario. Moved to the US three years ago and still self manage them. No issues. Just need to assemble a good team of contractors including tenant finding agent.

Arthur Neves thank you for the kind words. There are deals in Ontario just getting harder to find. If your serious about partnering up I'll keep you in mind for future opportunities. Jacob Thompson yes same house! I too can't believe the transformation.... I wish I had some before pictures of the inside...it was pretty bad, major smokers

Greetings, Our land development company owns several parcels of land across Southern California, we are in the process of raising capital (per project) to entitle the land, grade and sell to merchant builders. Our company also manages a very large portfolio of land for an individual, consisting of over 1000 acres of land in Southern California, some very prime commercial/industrial along the freeway. Recently the individual has decided to sell a significant portion of this portfolio. What I am looking for is if there is creative way of raising sufficient capital (institutional?)...where instead of selling our clients portfolio properties individually and separately raising capital for all our projects, there was a process where we could put all the properties into one pool (or entity) and raise funds for everything. This would increase the overall raise amount, address our challenges of raising capital per project and the returns would be shares of all the projects. I hope I've explained my idea in a manner where someone with the experience can chime in. Thanks in advance. Thomas

Thank you kindly!   @Ian Walsh @Ashley Wilson @Kevin Farris @Michael Tye @Linda S. @Wes Woodhouse

I just posted an article that I made $77k through someone i connected here on BP.

Originally posted by @Craig Warling:

Hi Thomas,

What a great read here and very inspiring !!! I am contacting to find out more about investing both here in the US (i'm living in San Fran bay area) and back home in Canada...I have been living here for 14 yrs (California) and am really interested in getting started, somehow....originally from Mississauga, and spent my university days at Mac, which is why your story was really interesting to me...was it easy to do the investment from Irvine while the house was in Hamilton...trusted friend to work with back 'home'...i'd love to know more about the process...up where I am in Concord, CA and the entire East Bay, there are a lot of properties in need of fixing and flipping as the Bay Area is getting way over priced with all the tech workers needing places to live etc...

Great job on the before and after on your purchase and to continue with the rental as well :-)

cheers,

Craig

 @Craig Curelop thanks for the kind comments! 

Getting started is the key, needs to get your hands dirty and putting your money to work...even if its small deal.  I moved to SoCal about 3 years ago and find it challenging to get in this market...its taken me 2 years of filing tax returns just to be able to secure a standard mortgage...plus prices in my immediate area are significantly high....my plans are to look inland, but until that happens I've been finding good deals back home in Canada.

I started investing in Hamilton back in 2011 when everyone i knew from the GTA thought i was nuts....all i heard is that it was a steel town, dirty, bad tenant pool blah blah blah....back then there were all sorts of deals...but sure enough things have turned around and prices are significantly higher easily double in the last 5 years.  

You ask me about the process and how was it easy to do...well i take a few trips a year back home...I am regularly in touch with my realtors, PM, contractors, tenants via phone, text or emails. Plus i do have local people i trust that can address any emergency things that may come up...

I would start by researching the market you consider investing in...specifically identifying a city or town with a future and not a past. 

Whats the cities political climate? Growth atmosphere?

What are its Infrastructure expansion plans?

Is cost of labor increasing?

Is average income increasing faster that province or state average?

Is the city or towns population growing faster than the province or state average?

Are jobs being created faster than province or state average?

Does the area have more than 1 major employer?

Just a starting point and some things to consider when researching a market you would like to invest in...then there is the entry point....do you have the capital or need to raise the necessary capital....

So lots to consider but don't let it stop you....research, ask questions, get answers and take action!!