Need some advice

[proptrade]

I`ve started a real estate investment partnership with some friends. Investing in BC is proving difficult. We can`t seem to find any positive cash flow properties. We were thinking of investing in a fourplex in Las Vegas. It appears as though one can purchase a property that produces positive cash flow. I`ve spoken to a few realtors about the most desirable areas to consider. However we are finding it difficult to find any US lenders that are willing to lend to Canadian investors.

Is anyone investing in the US? Seems like the drop in prices and increase in the dollar has resulted in some opportunities for Canadians. We are also looking for more partners to join the venture, so if anyone is interested please email me at [email protected].

Any advice would be appreciated.

Regards

 

[thejules]

QUOTE (proptrade @ May 19 2008, 09:58 AM) I`ve started a real estate investment partnership with some friends. Investing in BC is proving difficult. We can`t seem to find any positive cash flow properties. We were thinking of investing in a fourplex in Las Vegas. It appears as though one can purchase a property that produces positive cash flow. I`ve spoken to a few realtors about the most desirable areas to consider. However we are finding it difficult to find any US lenders that are willing to lend to Canadian investors.

Is anyone investing in the US? Seems like the drop in prices and increase in the dollar has resulted in some opportunities for Canadians. We are also looking for more partners to join the venture, so if anyone is interested please email me at [email protected].

Any advice would be appreciated.

Regards

You should try Barrie/Orillia. There are a number of multi-family properties on the market that produce positive cashflow...

 

[BobHudson]

For more insights on U.S. investing and financing, send an e-mail to Matt Scherb at [email protected]

I saw Matt do a presentation on the subject yesterday. He is located in Ontario but has some interesting projects going on in the U.S.

 

[hogan00]

QUOTE (BobHudson @ May 19 2008, 10:30 AM) For more insights on U.S. investing and financing, send an e-mail to Matt Scherb at [email protected]

I saw Matt do a presentation on the subject yesterday. He is located in Ontario but has some interesting projects going on in the U.S.

Thanks for the info

Cheers

 

[Thomas Beyer]

QUOTE (proptrade @ May 19 2008, 09:58 AM) ... However we are finding it difficult to find any US lenders that are willing to lend to Canadian investors.

..

Regards

difficult .. NOT impossible !

Find a mortgage broker that likes Canadians and knows how to find you a mortgage .. not that hard !

we`re buying on Vancouver Island @ 68/door .. positive cash-flow .. and also Sunshine Coast where we own 100+ units !

TRY HARDER .. look deeper .. look in unusual places .. of course Lower Mainland is hard to find positive cash-flow .. but even theer you can find it !!

TRY HARDER ..

 

[Dabbler]

QUOTE (thomasbeyer2000 @ May 19 2008, 09:37 PM) difficult .. NOT impossible !

Find a mortgage broker that likes Canadians and knows how to find you a mortgage .. not that hard !

we`re buying on Vancouver Island @ 68/door .. positive cash-flow .. and also Sunshine Coast where we own 100+ units !

TRY HARDER .. look deeper .. look in unusual places .. of course Lower Mainland is hard to find positive cash-flow .. but even theer you can find it !!

TRY HARDER ..I live on the Sunshine Coast and can`t find anything that would provide positive cash today. Perhaps when you purchased your 100 units is when things were dirt cheap but not anymore.

 

[invst4profit]

There are positive cash flow properties everywhere. Ususlly when someone says they can`t find positive cash flow it is because they are too impatient or not working hard enough. They are there, look harder, make contacts, be creative.
Real estate investing takes a lot of work,do you feel you are working really hard, is it taking up all your spare time, or are you just waiting for an agent to come up with the perfect property.
Drive around, find neglected properties, search out owners, make offers on properties not for sale.
None of this may apply to you, you may just not know where to look.

 

[Thomas Beyer]

QUOTE (Dabbler @ May 19 2008, 11:23 PM) I live on the Sunshine Coast and can`t find anything that would provide positive cash today. Perhaps when you purchased your 100 units is when things were dirt cheap but not anymore.

N-Sunshine Coast, i..e Powell River .. 3 buildings with 64+42+19 suites = 125 units .. bought summer 2006 and fall 2007 ..

still loads of cheap houses under 200K !! most need some work, but certainly FAR CHEAPER than Lower Mainland or S-Vancouver Island !!!