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21 May 2024 | 21 replies
I already have a Canadian Corporation (CCPC) in British Columbia.
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20 May 2024 | 5 replies
Hi Everyone,I'm a remote Canadian investor looking to do the BRRRR in the Texas area.
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23 May 2024 | 3 replies
More importantly... by paying yourself from your rental income, you are converting passive income into earned income, subject to Social Security and Medicare taxes.
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22 May 2024 | 6 replies
Feel free to connect with me here on BP or on social media.
23 May 2024 | 10 replies
Any other social media/marketplace platforms?
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22 May 2024 | 2 replies
Books like Fooled by Randomness make it apparent that you see a lot of sucessful people on social media, books, etc; not the graveyard full of dead bodies/failed investors.
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22 May 2024 | 19 replies
Regarding if you should DIY manage or hire a PMC:Many new investors read a couple of posts and then think self-managing their rental property, and avoiding PMC charges, is an easy way to boost their ROI.The reality, is that many of these investors really haven’t taken the time to properly understand what it takes to properly manage a rental property and the corresponding tenants.Here’s a list of some of the requirements to properly manage a rental property:Knowledge of all local municipality, state and federal landlord requirementsIntimate knowledge of all Fair Housing statutesUnderstand all federal privacy laws, as they’ll be handling social security numbers and IDsProper business insurance in the event their computer is hacked and or they improperly dispose of tenant data.Where to advertise their rental, other than ZillowWriting ads compliant with Fair Housing statutesCreating a process to accept calls/texts and schedule prospects to show their rentalA rental application and application fees that meet all local and state requirementsKnowing how to screen applicants to avoid professional tenants and the growing amount of fraudulent dataA lease compliant with all local, state & federal lawsUnderstanding local and state requirements regarding security deposit collection and holdingRent acceptance options for tenants and accounting system to track, including late fees, etc.Plans to handle nonpayment of rent issuesKnowledge of their local eviction laws or access to an attorney familiar with evictionsHow to accept, track and respond to tenant maintenance issuesBuilding a list of handymen and contractors for maintenance and turns between tenantsExpertise at evaluating tenant damages to charge against security deposit when tenants move outResearching local utility requirements to avoid suspension of services that could lead to frozen pipes or flooded basements, etc.
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20 May 2024 | 10 replies
I would recommend finding a few lenders that can lend to Canadian investors prior to getting into a deal, that way you don't run into any hurdles on the back end.
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20 May 2024 | 20 replies
Most Canadian clients we work with use TD bank because they offer US mortgages for Canadian investors.
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21 May 2024 | 10 replies
There are several contributors who mainly discuss ways to build your business and brand digitally - social media (all platforms), email, youtube, etc.