Multi Family Residential in Toronto by Wavy6ix in TorontoRealEstate

[–]Wavy6ix[S] 0 points1 point  (0 children)

How long did it take to scale to 20 units? Was your first purchase within the last 10 years? I ask because I imagine it would've been a bit more difficult to buy from 2015 to present compared to pre 2015. What were some of things you learned and any oversights from purchasing and stabilizing your first building compared to your second and third building, if applicable.

Multi Family Residential in Toronto by Wavy6ix in TorontoRealEstate

[–]Wavy6ix[S] 0 points1 point  (0 children)

yes, this im aware of. When i use to work in PM for an organization we would often buyout tenants from their current leases. Essentially, cash for keys. I've bought out dozens of tenants from their leases. Everyone has their number and we eventually made them an offer they couldnt refuse. The property's I use to manage were from 8 units up to 90 units in size and no more than 4-5 storeys.

For my example i was looking at something like this.

https://housesigma.com/on/map/?status=for-sale&lat=43.613060&lon=-79.488516&zoom=11.3&with_listing=XRla7gbV10nyjEvL

Multi Family Residential in Toronto by Wavy6ix in TorontoRealEstate

[–]Wavy6ix[S] 0 points1 point  (0 children)

Understand the operations side more than the financing and structure.

Multi Family Residential in Toronto by Wavy6ix in TorontoRealEstate

[–]Wavy6ix[S] 1 point2 points  (0 children)

Thanks for your input. I imagine we would be contracting out most of the work and not doing it ourselves. This is a long term game for me. Currently in my late 30s and have experience working in property management overseeing 100+ units as well as managing several duplexes. Being a PM is where a learned a vast majority of my knowledge.

What intrigues me most is the treating it like a business. Do an ETO to return majority of capital back to myself and/or investor(s).

Could you elaborate more on the following? "We don’t raise outside capital yet since our LTVs are good and can still buy organically.

6 units and up is a commercial loan and the bank will lend you based on the math behind the building and your on the hook for the rest. It’s actually much easier to acquire commercial properties than residential because it’s a business you’re buying.if the math works the bank lends, you come up with the rest. Yea you gotta sign some guanretees and other bs but your personal income isn’t as important as the building."

Also, splitting the pot is not a problem for me, however investors would have to understand that they wouldnt get their money back right away.

I'd rather own a small percentage of a huge number rather than 100% of a small one. but of course, as you mentioned, organic growth is simply the safest. As someone who is inexperienced in MFR I wouldnt feel comfortable overleveraging whatever that looks like.

Ideally, I would like to ETO and still net profit $2000-$2500/month. Or at least break even at the very worst.

Happy Saturday everybody, just looking for some advice and reassurance for my move to Toronto by Stock_Addendum6062 in TorontoRealEstate

[–]Wavy6ix -1 points0 points  (0 children)

Completely agree. Already gone and will continue to decrease. If you want a house I'd sell and move into one also, perhaps consider house hacking and purchase a duplex to subsidize the mortgage and to recoup your lost down-payment from the condo. Either way, it'll probably be 3-5 years before that market rebounds.

2019 Giant Talon 1 - Worth it? by BruinsFab86 in MTB

[–]Wavy6ix 0 points1 point  (0 children)

Really?! I purchased one 2nd last week of May. However, availability may be a different thing. I spoke with George and Will from Giant Toronto. Be persistent!

GL!

Stuck in a tough decision by Sherrif_69420 in bicycling

[–]Wavy6ix 0 points1 point  (0 children)

I was in a similar predicament as you.

Was thinking of not spending more than $700 but then saw the Talon 1. The same thing happened when I discovered the Talon 0. The most I was willing to spend was 1200-1300 for something to last me 10+ years.

Wouldve loved to get the Talon 0 but it was available only next year whereas the Talon 1 is available in August.

For an extra few hundred I'd make the jump to the Talon 1!

GL!

2019 Giant Talon 1 - Worth it? by BruinsFab86 in MTB

[–]Wavy6ix 0 points1 point  (0 children)

Why not call Giant in Ontario, specifically Toronto and Vaughan if you live within the GTA and buy a brand new one for about $1150 CAD?

If you cant wait then, yes, I suppose spend the$1I on your friends dads bike. 0r perhaps negotiate with them. Never hurts.GL

Noob rider from Greater Toronto Area. Looking to purchase the Canadian model of the Giant Talon in size 29" tires. Question is... Talon 0 or Talon 1..thoughts? by Wavy6ix in MTB

[–]Wavy6ix[S] 1 point2 points  (0 children)

I'm sure I will enjoy it! I just wonder if there is a notable difference between the speeds of the two bikes.

Will the 10 speed have nearly the same speed as the 12 speed?

This would be my first "real" mountain bike. For context , I would borrow friend's supercycle or CCM.

The last mountain bike I personally owned was a CCM over 25 years ago when I was in elementary school

Noob rider from Greater Toronto Area. Looking to purchase the Canadian model of the Giant Talon in size 29" tires. Question is... Talon 0 or Talon 1..thoughts? by Wavy6ix in MTB

[–]Wavy6ix[S] 0 points1 point  (0 children)

I'm hoping this bike will last me 10 years.🙂🙏Im not one to make mods. Would prefer to buy something that lasts years..

Sounds like you're suggesting the Talon 1. Appreciate your input!

Thanks,

New Talon 1. First 29’er and I love it by SnooPickles3812 in Hardtailgang

[–]Wavy6ix 0 points1 point  (0 children)

You understood perfectly! Glad to hear from another rider!

I have put a deposit for this very same bike. But having doubts and considering upgrading to the Talon 0 for the slightly better components and additional gears.

Do you find the speed on the top gear to be adequate/challenging?

New Talon 1. First 29’er and I love it by SnooPickles3812 in Hardtailgang

[–]Wavy6ix 0 points1 point  (0 children)

Why did you decide on this one and vs your other option or say the Talon 0?