Looks like it has been awhile since anyone has joined up on this site. I have to admit I just found it. I have been looking at BiggerPockets.com quite a bit but it is more US based than Canadian. Although it would be nice to find a 3 bed, 2 bath, 1200 sq ft SFR in the perfect neighbourhood for $40k, they just don't seem to be available this side of the 49th. There is still a lot of good info there and many people willing to help get you through anything that may come up.
Middle aged Male, Live in Merritt BC with my wife of 33 years, 4 kids all grown up and on their own. Moved to Merritt 3 years ago from Williams Lake to try get some better climates and closer proximatey to our kids and 4 year old grand daughter. Currently living in a personal residence with a rental suite that brings in $800/month while working full time as an Electrician in 1 of 3 local sawmills. Also just completing a fix n flip which I have been working on part time for the last year and a half. (Way to long you say? Tell me about it).
I have been involved with Real Estate since my early 20's, always owning my own home and dealing with the odd rental unit and property developement over time and have found it to be way more financially benficial than options presented by financial managers and bankers. EG: $50k in a GIC, first year made $750 didn't quite make the full second year with earnings of $400 before I pulled out of it to finance my flip. Although I was assured this was a good thing, I couldn't see retirement happening anytime in the future with this type of income behind me.
Expectations from this site?
Who knows. Hopefully meet Canadian Real Estate Investors to exchange information and gain knowledge from others experiences and dealings. Not looking for partners or co-op type of investments with others regardless of how good it looks (nothing personal it's just how I am).
Am always on the look out for local bargains and trying to find my next investment property. Seriously considering a buy n hold rental. To date my calculations say Max mortgage $175K, min income $2k/month should equal approximately $500/month cash flow after expenses. Would like to chat with someone experienced in the foreclosure arena as I have some questions...
Thanks for now,