All Forum Posts by: Filipe Matos

The Todor Yordanov one is very good.

If you want to invest in general and in particular in Hamilton, the RockStar Inner circle is very good. They are a brokerage and a RE club. I have been following their newsletters for 2 years.

For Hamilton only, check Mr Hamilton, he is a RockStar Broker.

For big buildings, follow the Rock Advisors, no one has better advice for big residential buildings. They are also a brokerage.

Don't forget to follow the best advisor of all of them: yourself.

Filipe

I get around 15% cash on cash in Toronto, Canada, and over 45%ROI on my money.

In Hamilton , Canada you can probably get up to 20% cash on cash on big multi unit building with 20% down.

It depends on where and how you invest and how much money you have and hands on you want to be.

I think that is a good idea.

You do not need to buy a building with elevators, there is one now for sale with 21 units without elevator.

I was thinking to buy in Hamilton 6 plexes up to 12 plexes with 100% financing.

I would try to sell the current ones even if it is difficult to get financing. Maybe you can sell as non student rentals, or you do not need to specify to the banks that they are student rentals. If they are single family houses, you can sell as single family or duplex, whatever it is. If you can sell, you sell, if you don't, you don't.

It's easier to manage a 20 unit building than a bunch of small properties, you only have a maximum of 2 boilers and up to 3 water heaters to manage and you can get one manager to take care of it, its easie for him to supervise too. one trip, much less time to supervise.

Filipe

I like when I hear "smelly , cluttered, full of holes", but I do not like when I hear "water damage , leak, shortcircuit".

yes, next!

PS: 5% minimum down with CMHC only if it's under 3 units. for a 3/4 plex 10% is required.

A glass of Port Wine and a cuban cigar works well for me

Filipe

Hi Danny, I feel that 1K is too little for a complicated deal.

Unless the purchase price is under 200K and still...

You have now 2 commercial units sitting empty that can cause you to lose money every month for awhile, You can rent a residential apartment in a month but a commercial can take months.

I have a mixed use building that I use 100% as residential because I can get the same income out of residential as commercial and I did not want to risk to have the unit vacant for months since I was short on money.

I am not an expert in business but this is what i think:

In order for you to setup up/maintain business you should be there every day to supervise and only later delegate it to a manager/employee. Do you know how much money could you get from the sale of the business?

I could set up a business too, but it's too much work for me for now, and you have a lot of businesses for sale for 50K and they sit on the market forever.

I do not like student rentals, but I heard you can get $800 of income from a sf house in the hamilton mountain rented to students with a purchase price of around 250K. I feel this option is easy to purchase and manage , close to Toronto and its considered a nice area.

I get interested in commercial properties but only in downtown Toronto where rents can get very high and commercial buildings are going through the roof.

I agree with trevor, a multiplex is easy to buy and get income from.

I saw an amazing 5 plex in Cambridge a few weeks ago for 400K where you could ger residential financing with 20% down. must have sold already.

there is cheap triplexes in hamilton for 200/250k in areas that are improving a lot.

Filipe

You are right Simon, they are all Socialists.

They have really wierd stuff in here, I pay socialist taxes to cover healthcare and it costs less than a private healthcare insurance in US.The health cost per capita in US is the highest in the world because it's the best.

My wife had to go to the hospital 3 times and did not pay a dime, while sometimes with private insurance you still have to pay a flat fee each time you go there, crazy socialist stuff.

My buddy in US had his wife and daughter seek treatment and spent thousands, almost went bankrupt and started smoking, but he likes it. He may be on the hook for huge costs if he gets cancer because of these silly financial troubles, but hopefully if he is smart, he will not spend money and live with it and not take other peoples spot on treatment. the less people seeking treatment , the better and faster services will be.

I am making a lot of money in RE and IT and plan to retire before 40, even with these socialist laws, which makes no sense. Middle class here lives very well, with public transportation and public health and everything else is private, makes no sense. I moved from NYC like my buddies and living conditions are better here, which does not make sense either.

I radder live in a country where healthcare is fully private, that allows services to be a lot better and faster because poor people cannot access it, these people clog hospitals and clinics all over the world.

If a public health tax is cheaper than private health care, I dont care, I just don't want to pay taxes , period.

I can't wait to ge out of here and move to Missipissi to meet my buddies:

http://youtu.be/yuanrYGnIOI

I do work 9-5 job and do RE in part time.

When I started , I ended running out of money on my reno, had to work 9-5, come home and work 4 more hours every day to do the reno. It was my own residence, and rented 2 other floors below. It took almost 2 years to finish and I swear never again I will let other people control my finances and renos.

Never Again I will renos myself the same way I had to do that time.

Now I have a contractor I trust, paid by the hour, plan things before he starts the daily work, check the plan at the end of the day, and so on.

When I need to rent the apartments, I only start advertizing 3 weeks before the tenant moves out and only show 2 days a week at 6PM and I only stay there for 15 minutes. I am now called the Tourist Guide because prospective tenants line up at the door sometimes almost 10 people and I have to control who enters, 2 at a time.

Only if I dont get the apartment rented by the last week I will show it every day in the evening.

Renovations are stressful but the good thing is that I only buy one building a year, lets say for 700K. Renos last for 2 to 6 months (if it requires full plumbing and electrical flip). Stress for 2 to 6 months and "relax" the rest of the year.

Filipe

Hi, I also started dreaming about RE at your age, broke too, but I kept dreaming.

I got a Job after college and got financing for a condo with 0% down, not really an investment , just for me to live in. Only when I moved to Canada I saw good oportunities and access to credit.

Its good to have a job when starting investing in RE, you can at least get financing on your own to buy some RE. it also allows you a safety net in case something goes wrong. If you are already a business man by nature, sell you self well and know how to do business (buy low sell high), then you may not need it.

For me the earlier you start the better. If you make mistakes, you will have much more time to learn and recuperate.

Before starting , try to learn as much as possible. I did not have that luck, never had anyone around me that was doing what I am doing and never seen it being done in my home country.

Keep dreaming and it will happen