All Forum Posts by: Tyler Stiller

@Aoun Rizvi

Make sure to get financing approved ahead of time!

Go look at a bunch of properties, get confident in looking at priorities and work with an agent that knows a bit about investment properties

@Sas Sel

Yes it was in London. A guy to talk to is Dan Kiekkens. He’s a really good agent (519) 902-9211

@Sas Sel

I've had success doing BRRR based on an off market deal I've found. I think that's the key. I asked my realtor for comparable, even though she wasn't involved in the deal.

@Daniel Hyman

Stessa now does allow balance sheet items

@Jacob Perez

Which do you recommend. HELOC or equity take out?

I guess it depends on a couple of things, like time frame

@David Cam

Hi David, I do this to expand my portfolio. And have 3 times in the last 2 years.

- HELOC credit is easy to access

- HELOC credit is interest only payments (helps with cash flow on a new purchase)

- it does come with risking more on your personal property, but I don’t mind the risk if I’m buying a cash flowing property

FYI I am a mortgage agent if you do need help with any of this.

@Russell Butler

As long as the lender can see that you have the backing for the $26K you can find other creative ways to do it.

Like private family loans, or private mortgage, or company line of credit etc.

Or if the property needs work you can go ahead and close and refinance to get your equity out ASAP

@Christopher Choy

All my properties are in London Ontario. Appreciation is crazy, you definitely have to be picky and find the right deal for cash flow though

@Bekir Seyhan

I like using HELOC For downpayment. Helps with cash flow on next property off the get go

BRRRR is definitely doable. I did one in London Ontario this year. Was able to get all my cash out.

at the purchase price I still am not at 1%. But still cash flow $500 per month