All Forum Posts by: William Wong

@Joel Owens

 Thanks Joel. It seems Memphis Invest is fairly active on social media. I have listened to a couple of their videos and read some of their materials on line. They seem to be quite good. What other turnkey companies are there that are fairly reputable? I just wanted to do a comparison. And have you had any experience with Memphis Invest yourself?

@Marco Santarelli Thanks Marco. Yes, would you have any referrals? It would be good to know what options are available in case things ever go wrong.

@Helen Kirk

Hello Helen,  I was a student not too long ago and I was on a group lease with a couple of my friends.

My guess is that a group lease will force everyone to be accountable. If one person skips out on paying rent, it will threaten everyone's lease.

In general though, I feel that students are a good market to target because of their low expectations and better cash flow.

Hello,

As a Canadian resident who wants to buy in the US market, what kinds of legal protections exist for foreign investors? Say for example there is a dispute of some kind with a turnkey real estate company or with a tenant, what avenues are there?

Also, how does one develop a comfort level while investing out of country? Everything just seems so much further away and you cannot "feel" your investment and the neighborhood because it is so far away.

Let me know what you think!

Thanks.

@Account Closed

 Thank you for the response James.

I am quite new to this whole thing too. I find the Southern Ontario real estate market to be over priced generally.

This being said, I think I did come across a couple of duplexes in Kingston that would satisfy the 50% rule. However, the 1% rule is definitely hard to come by. I don't know whether this is a hard and fast rule or whether it could be bent?

Hello,

I have been looking at a number of duplex/triplex properties recently.

I have found it very difficult to find properties following the 1% rule in southern Ontario where I am based out of. I have however been able to find properties which yield roughly 8% annually in rent and are able to meet the 50% rule while generating a small cash flow.

Would an experienced investor feel comfortable investing in the criteria I laid out above even if it didn't meet the 1% rule?

Keep in mind, I have already expanded my search criteria to include towns about 2- 5 hours away from where I live.

Thanks.

Hi,

I was wondering whether anyone has had any success finding properties yielding the 1% rule in Southern Ontario? Toronto is out of the question and I have had difficulty finding places even in Kingston, Ontario. In the odd case where the numbers did seem to line up, I was not sure if there was something deficient with the property or neighborhood which allowed the property to sell so low below market value.

Has anyone been able to find anything following the 1% rule?

Hi everyone, I am based out of Ottawa, Ontario (Canada) and I am new to real estate.

I have decided on a niche and a strategy. This would be to  buy and hold multifamily properties. I am thinking of narrowing down my target market to student housing in the city of Kingston, ON which is a college town. Most employment, both direct and indirect depend on the local University (Queen's University).  The reason why I choose this route is because I was myself a student at this school and lived in Kingston for a few years. I am therefore familiar with the town. Moreover, real estate in many major cities in Canada seem to be too expensive.

I was wondering whether it makes sense to attempt to "specialize" in a target market? In my case, this would be for students attending a particular university. 

Also, anyone who has experience landlording in Kingston should feel free to chip in as well! I would like to hear what your experience is like.

Thanks.

Hi everyone, I am new to BP. I was recently considering investing in Real Estate in Kingston, ON where Queen's university is located. Does anyone have any experience with Kingston or able to make any referrals with regards to contractors and/or property management companies?

Thanks.

@Cal Ewing

 That's good to know. thanks Cal. I am not going to school in the US, but was thinking of targeting the student market. 

@Len Inokuma

 thank you for that information Len! yes, if you can send me more details that would be great.

@Cal Ewing thanks for your reply. How did you get  started and what were some of the major challenges you faced?

My strategy would be a duplex as a student landlord. I am looking to get a feel for the experience of other Canadians who have attempted US Real Estate investments.

@Tom Mendez Thank you for your reply Tom. I will need to find a time to visit the US sometime.

@Account Closed Thank you Shez for your reply. That is actually really good to know! From what I understand therefore, you can qualify for a mortgage in the US from a Canadian bank (based on Canadian income statements) and receive the mortgage funds in US dollars.