All Forum Posts by: Will Antonio

Hello,

I'm a real estate investor based from Calgary, AB looking to expand my reach into Florida for the obvious reason and more investment opportunities compared to the market up north.

I want to ask my fellow Canadians what the process was like for them the buy/hold/wholesale in the States.

ie. opening an LLC, company set up, how to ensure I do it the right way and avoid any tax mistakes like double taxed, how you get payed once you sell off a property

Any information about how to set up my wholesaling business in the states would be appreciated. I do own a business here in Canada already just to clarify and not sure if I can use my existing entity or if I would also have to create a new one from scratch as well.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Calgary.

Purchase price: $260,000
Cash invested: $40,000

Property is in Calgary, Alberta, CANADA (no option in location for canadian investments). About 5 hours north of White Fish, MT

What made you interested in investing in this type of deal?

the ability to legalize basement and "split" the property into 2 for positive cashflow

How did you find this deal and how did you negotiate it?

through real estate agents that specialize in investment properties. Negotiated price down from 280,000 down to 260,000 due to needing a new roof and minor foundation repair

How did you finance this deal?

done through a traditional residential mortgage with 25 yr amortization and 5% down

How did you add value to the deal?

legalized the basement suite and rented up/down for positive cashflow

What was the outcome?

fully renovated both units and are now fully rented with 4-500/month cashflow

Lessons learned? Challenges?

have multiple quotes and set up trades in advance when doing renovations. Delays in finding available subs caused delays on the project

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

real estate agents name tim & sid based in calgary, alberta

Hey there I'm a long term rental/fix & flip real estate investor based out of Calgary, AB looking to possibly expand to other markets. Specifically looking at Regina!

Preliminary looks like the average yearly salary (4th highest by city) in comparison to price of real estate (2nd lowest by major cities) makes the rental market seem promising. I'd like to get your inputs on how the economy outlook, city layout, rental hotspots/coldspots, and overall market is in this city. Open to chatting with agents/brokers in the area as well to get their input too!

Cheers

Hey there,

I'm a fairly new investor however I have now purchased my first rental rental property to house hack with my own financing and cash.

I've finished my work on the current property and now setting my eyes this year on doing joint ventures, probably with little to no personal money down since I'm some what low on expendable cash for the time being after my home purchase. 

I'm more so interested in talking to individuals who have done Joint Ventures to purchase either SFH/duplexes/fourplexes in the city/area and hear your stories as to how you sought your financing to fund your deals (whether personal or lender), utilizing/opening corporations to facilitate you deals with other investors, and how you structured your deals so that everyone was contributing (whether with time/funds) and had something to gain so everyone was happy.

Would also love to hear about local contacts/networking for lenders/investors that you may know of in these regards.

Can't wait to hear from you all. Cheers!

Looking for a contractor that does work in legalizing basements suites. Wondering if anyone here has used a dependable contractor that they can recommend in YYC area.

Thanks @Kevin Suarez Sabugo these information is super valuable. I appreciate you taking the time. Cheers!

I've been pursuing my first property for about half a year now and came across some information that raised some questions that I was hoping my fellow Canadian and even American neighbors may have experience with.

My eventual goal is to own multiple pieces of real estate, possibly in different jurisdictions.

I'm aware that in financing these properties under my name as a private investor also exposes me to additional risk across all properties should one experience financial issues (i.e. tenant forgoing payments/ major property repair) since they are all tied under me. 

These questions were raised after I watched a youtube real estate video from Jacky Kuk based out of Vancouver, who broke down a legal structure to own multiple properties. It consisted of a holding company, a real estate company, and a management company. I'd heard of it being implemented but figured that was for huge portfolios.

Does anyone have experience in owning properties through individual corporations/separate entities to compartmentalize each property individually?

If so, if that was the eventual goal, would I have to do that off the bat or could I seamlessly transition from private ownership into a business owned real estate structure?

Thanks guys! Appreciate the insight.