Recent content by CorySperle

  1. CorySperle

    Commercial mortgages

    RBC is the only option for a 6 plex in my opinion, as qualifying is a mix of building income and personal, and almost no (ridiculous fees), or reports.
  2. CorySperle

    2018 - a tough year but two apartment building purchases in Alberta for 68 doors

    Greetings all, I was inspired this morning to share some success this year with the group, and although a very tough year personally it seems to be ending on a good note. About a year ago my 11 year old son became ill with a life threatening infection, and after many stints in hospital, three...
  3. CorySperle

    Just closed 52 units for 1.9 mill ... some info ... and getting cash at close

    Great post and thank you for sharing! You are absolutely correct as more members should post details of their purchases, hence I will do just that right now under success stories.
  4. CorySperle

    Calgary or Edmonton

    Why not in your hometown Fort McMurray? There must be some good deals to be found there right now.
  5. CorySperle

    advice for novice member: get going

    This would be a good idea if this is your first property, a mortgage helper with a suite, and get your feet wet to decide if land-lording is for you. This is how many investors, including myself got started 18 years ago.
  6. CorySperle

    The importance of choosing an Investment focused realtors

    Property acquisition is by far the most most difficult aspect of real estate investing. Almost all of your gains are made the day you buy the property, thus a bad purchase may not be obvious for a while, even years, so in my opinion 95% of your focus should be on locating winning deals. You can...
  7. CorySperle

    Edmonton PM with monthly reporting

    I receive all of the above from Braden Equities.
  8. CorySperle

    Minimum Cash on Cash rate & Cap rate

    The answer is it depends. What type of income property are you contemplating? Returns differ greatly on what you buy and where. Are you buying a condo, house, duplex, apartment, commercial property? Keep in mind your 'projected' cash on cash return almost never matches reality. For the most part...
  9. CorySperle

    How do you convert principal pay down into a percent that would represent the pay down part of your return?

    Down payment plus all associated closing costs divided by annual pay down is a rough estimate to calculate the percent return on principal pay down, which is in fact the only 'real' portion of your return you can calculate. Cash flow and hypothetical appreciation are components, however far...
  10. CorySperle

    Best market in Canada

    Avoid Kelowna at all costs, massive overbuilding and prices already coming down fast in the past month or so.. Alberta is the best right now, Edmonton, maybe Saskatchewan in a year or so as not quite at the bottom yet. Best though is to buy something close to where you live for a 10+ year hold...
  11. CorySperle

    Court ruling requires sold Toronto home prices to be made public!

    Well certainly you can also cut your own hair, change your own oil, or any other list of tasks one can delegate but who really has the appetite to market, advertise, show, negotiate the sale of your home? Good realtors will still do okay, especially in the commercial sector so I don't see a lot...
  12. CorySperle

    Pre Construction Down Payment

    To me this is the riskiest type of real estate investing there is. Yes you could turn 20K into 150 if your early in the cycle but could also turn into -150 especially in incredibly heated markets like Kelowna. The other thing I don't like is your buying a product that you can't even see. I would...
  13. CorySperle

    Asphalt shingle warranty

    Like an insurance claim, expect this to take some time and try to be patient. If you have all the paperwork and are well organized it should go fairly smoothly. I would approach a second or third roofing company for an estimate of repair, so you know the true value to fix vs. what the roofing...
  14. CorySperle

    Lease does not matter any more with the RTDRS

    Welcome to landlording. The lease only really protects the tenant from rent increases, something non existent in Alberta in the past 4 years. It is almost non enforceable if they break their lease and leave, and is not worth your time and effort. The RTDRS is also a complete joke set up for...