All Forum Posts by: Noah Zielinski

Hey,

I'm looking for help in creating a Corporation that will be purchasing properties in the States. Does anyone have any experience with this or point me in the right direction?

Thank you

Thanks for the great advise everyone! I'll have to look into everything more this weekend but it's starting to look more and more like Dallas.

-really appreshiate your help

Hey everyone,

I'm planning on purchasing two single family homes to rent this winter but am unsure of where to buy. I plan to visit both areas in December/January but it would be ideal if I could narrow my search down to one city before then. My plan is to purchase a total of 5 properties within the next 3-5 years, all in the same area. I'm looking to spend between 150-160k total for the first two properties, including 70k in cash.

I'm leaning towards Dallas because of the high percentage of renters, its higher population, and because it has lower unemployment/vacancy rates. Atlanta is closer to me though and seems has more properties in my price range. I'm kind of torn because I'll likely purchase more properties in the area and want to start out on the right foot.

I'm also looking for a mentor in the area I choose who'll can help me through the whole process. I'd be happy to compensate you for your time.

ty!

Hey BP,
I made a spreadsheet with a few houses to get a better understanding of what I should be looking for. I've attached a link, you can download and view along with the house URLs. I'm looking for any feedback or recommendations as far as the houses that I've chosen, what you like or don't like. If you see any mistakes in let me know :)

Feel free use the spreadsheet I made for your own use. The grey areas are the only areas that you need to fill out, everything else will update automatically.

edit: it will let you compare 3 houses at once, just copy and paste to add more.

Thanks a lot!

https://docs.google.com/file/d/0B5v0PSK7SQV1Q3oxSjZBendoclE/edit?usp=sharing

Sweet thanks!
I guess it pays to be a hipster when investing?

Thanks everyone, it's really helpful. A lot to look into, I'll have to look into the taxes too.

@Ali Boone Thanks for answering, I just have a few more questions. Are off-market houses those that aren't listed on MLS, do they generally offer better prices? Also, if you have the time, could you link to an example of a house in Huston that could be a potential candidate, just so I can get a better understanding of what to look for? If I end up buying it I'll give you a referral fee lol!

Hey BiggerPockets,

I'd like to invest in one of the southern states this winter, Arizona or Texas. I have a lot of questions and need some advice.

I'd like to know your opinions on the best places to purchase a single family home, which will be rented, that's in the 80-100k price range. I've done a lot of reading but first hand advice would be great. Are there any locations that you'd recommend from personal experience or places that I should stay away from?

I'd also like to know if anyone can suggest the best means by which to purchase a home in the United State as a Canadian. My goal is to start a real-estate investing company that will eventually be incorporated. Is it worth it to incorporate right away or better to wait? Also, what would the first steps be in starting a business that will invest out-of-country. Can anyone recomend first steps to take?

Lastly (for now :P), can anyone recommend a real estate agency that is experienced in investment properties? I'll be driving through the States for 3 weeks over December and January, my goal would idealy be to leave a home owner.

If anyone has advice for someone just starting off it would be greatly appreciated. Thanks!

Thanks Marco & Ali,
I took the advice given and did another search in my area with the new criteria. To me, this looks comparable to what some of the US investors were talking about. I like the idea of starting out a little smaller than what I had initially planned, just to make sure I can handle everything & build confidence. This time the tenant would pay utilities.

Singe Family, 3 bed 1 bath in southern Ontario.
House: $50,000
Down Payment: $10,000 OR 20%
Interest: 4% @ 5yr fixed
Amortization: 25yr
Mortgage: $210.41 month / $2,524.93 year
Average Rent: $854 month
Gross Rent: $10,248 yr ($9,253.8 with 10% vacancy)
Average Vacancy: 4.5% average in area OR 10% to be safe

Expenses (after closing fees etc.):
Tax: $827
Insurance: $553
Repairs: $500 (maybe more to initially fix it up?)
Misc: $500 (grass, snow)
Sewers: $334
Prop Management: $1,020
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Total: $3,734 OR $2,714 if no prop management
Including Mortgage: $3,734 + $2,524.93 (- $961 of principal paid) = $5,297.93

Net: $3,956
Cash-on-Cash: 1.0248 OR .925 with 10% vacancy
CAP rate: 19%
ROI: 39.56%

What do you guys think? I'm planning to view it on Sunday.

Thanks for the advice everyone! Yes, house prices in my area are high and Canadian winters make utilities expensive if there aren't separate meters.
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Hi, I'm 23 and new to real estate investing business. I live in Ontario and would like to buy my first multi-family house in the near future. I've read a lot of the threads on this forum and there's a lot of great advice! If anyone could look over my numbers/give any advice to a younger investor who is just starting out that would be awesome! Thanks!

These are the numbers for one of the houses that I'm looking at. The asking price is $199,000. I'll be putting 20% down with a 20/yr mortgage on the property that I end up purchasing.

Unit #1 - 3 bedroom, $975/mth,
Unit #2 - 2 bedroom, $825/mth,
Unit #3 - 1 bedroom, $875/mth.
Rentals are month to month all inclusive.
Gross Income $32,100/yr.

Taxes $3,384/yr.
Electricity $3,180/yr.
Sewer/Water $574/yr.
Heating(Gas) $3,012/yr.
Insurance $2,212/yr.
Maintenance: I'm assuming $3,500/yr to be on the safe side.
Total Expenses: $15,862/yr
NET Income: $16,238/yr

Mortgage: 11,110.44
1st/yr Interest: 5,470.34
1st/yr Principal: 5,640.10
NET after mortgage: 5,127.56 (10,767.56 including principal paid)

I noticed that a lot of the houses in the USA bring in comparable rent but are nearly half the cost of the houses in Canada. Does anyone have any advice on investing in the US for an out of country investor, would you recommend it?