REVEALING MY NEW DUPLEX! (The FACTS & The NUMBERS)

In today's video, I'll be revealing my new duplex that I have finally moved into after a good week of minor renovations to get the unit ready. This video walks through ALL the numbers on the property to give you a good idea of what is possible with property investing with owner-occupied loans. Follow me on Instagram!: Griffin Milks
Resources I Use and Recommend:
► Get $25 For FREE with Wealthsimple Trade 🇨🇦💵 (Stock Brokerage):
wealthsimple.s...
► Accurately Track Your Stock Market Returns 📊 (Portfolio Tracker):
www.griffinmil...
► Learn to Invest in the Stock Market 📈 (Full Course):
www.griffinmil...
► Get $50 for FREE with Wealthsimple Invest 🤑 (ETF Brokerage):
wealthsimple.s...
► Get $50 in Free Trades with Questrade 🇨🇦 (Stock Brokerage):
www.questrade.com?refid=5cc1f638589bf
► Get up to $250 in BTC with BlockFi! 💸 (Free Crypto):
blockfi.mxuy67...
► Get up to 1.25% interest with this savings account 💰 (Savings Account): api.fintelconn...
Thank you for LIKING this video and SUBSCRIBING to the channel! #rentalproperties #realestate #duplex
🎥 Other Videos on the Channel!:
Just Bought second rental property video: • JUST BOUGHT MY 2ND REN...
Living From Dividends video: • How to Live Off Divide...
Disclaimer: This video contains affiliate links, meaning that if you click on a product link I may receive a commission at no additional cost to you. I do not promote products, services or companies I have not personally used or those which I do not recommend. All opinions are my own.
Music:
Calm Music - No Copyright • 🛀 Calm Music (No Copyr...

[@GriffinMilks]

Sorry for not posting in over a week everyone! I've been crazy busy but should be getting back to my regular posting now that I've finished moving. Have a great day!

[@moresugartradercc2744]

no worries much success with your new investment

[@GriffinMilks]

Thank you!

[@krubavaratharajah617]

Amazing work bro! Congrats on the new place, where abouts did you purchase the duplex?

[@mgt97]

Definitely interested in the quadplex. Sick video Griffin!

[@emericmarchand1392]

Mark Thayaparan yes me too !

[@GriffinMilks]

Sounds good Mark! Hopefully it goes through and I’ll make a video about it

[@MK-cm2cc]

Glad you're back. I would love to see your videos about property cause you say everything very straight and with a numbers and own experience. That is really rare thing. Thank you

[@GriffinMilks]

I want the audience to understand exactly what's possible, so it's my pleasure!

[@calgary_kai]

You've been busy with your new property! I am sure your new duplex will turn out to be a good investment. Thanks for all of your videos on Canadian stocks. Those have been very helpful

[@RyanThomasWoods]

I just discovered your channel and although I discovered through wealth simple and stocks I’m supppper interested in your real estate videos👏🏻 I just helped my mom get her first duplex (since I didn’t have the funds yet as I just started my own business) and so interested about other real estate videos! I’m outside of Ottawa☺️

[@ejazshihab1100]

Great video! Congratulations on the move!

[@GriffinMilks]

Thanks Ejaz! Glad you enjoyed the video

[@marias1902]

Yes to more real state videos! Enjoy the new home ☺️

[@akosty46]

Congrats on your new home Griffin, good luck for the future and thank you for posting all these great and informative videos!

[@GriffinMilks]

It’s my pleasure! Thanks for stopping by 😀

[@vivektanwar469]

great video griffin got very much knowledge please upload these types of video more

[@sixthsupply4878]

Awesome video Griffin! Nuce to see you back at it

[@GriffinMilks]

Happy to be back!!

[@SophieAnnaston]

Fun video! Thanks for sharing :)

[@GriffinMilks]

Glad you liked it!

[@criss9867]

Brilliant video Griff. Really shed good light into down payment strategies and the hidden benefit of equity payments. Thank you!! Keep em coming.

[@GriffinMilks]

Glad it was helpful!

[@jasonstupak4535]

Well done! I've always thought of the 5% down option as a waste of money for mortgage insurance, but your explanation makes complete financial sense the way you're doing it. All the best in your success going forward and thanks for the video!

[@GriffinMilks]

Yea I wanted to clear up my logic once and for all for people who may not have understood my rationale behind it so I'm glad you agree that it now makes sense. Thanks for watching Jason, have a great week.

[@simplecrime.5332]

Awesome video Griffin! Nice yo see tou posting about different content man

[@GriffinMilks]

Diversity is key!

[@SwittyKiwi]

Dope video here, Griffin. Just finished watching. Loved not only the content and editing, but also loved how you clearly explained the numbers behind the property - and real estate investment and management in general. Fully appreciated it. Listen, we just discovered your channel, and we’re impressed by the content quality. You’ve just got yourself a new subscriber, a big thumbs up and several viewers in our team. Looking forward to binge-watching your content. Keep posting excellent content like this, and stay blessed. - ✨ *Your Awesome Friends at The S'witty Kiwi Show* 💛

[@GriffinMilks]

Thank you! Really glad to hear that you enjoyed the video, I hope you enjoy my other ones also!

[@alexandrecontr]

Nice to see you back Griffin, and congrats on the move!!

[@GriffinMilks]

Thanks for stopping by Alex! I hope you're doing well bro

[@M_RYU]

Finally you got in there! Congrats!🎉🎊

[@GriffinMilks]

Yea 8 months later and we made it! Thanks for tuning in :)

[@kfreezy1317]

Currently saving up and scouting multi units around Ontario. Awesome video man, I'll look forward to more videos of your real estate purchases!

[@GriffinMilks]

Awesome! Thank you, and good luck with your scouting man

[@coastaltrailsmedia5716]

What a great video and definitely exciting to see a fellow Quebecois pushing in canadian real estate! I did just want to mention, there are general guidelines for certain savings rates for things like repairs and CAP X expenses that look at the lifetime of the item and the cost to replace it in order to come up with a monthly target for contingency savings! For big purchases like water heaters, roofs, redoing floors, etc its roughly about 200$ per month!

[@GriffinMilks]

Thanks for sharing your comments!

[@shockout1]

Great video. I've been taking notes and am totally interested in more info like this. Am trying to go in a similar direction. Thanks for the great content.

[@GriffinMilks]

Glad it was helpful! I'll try to release more as deals come along! Thanks for tuning in :)

[@biswajit007-4Ever]

Yes i am interested in more videos like this. Pls, keep them coming!

[@GriffinMilks]

Sounds good! I’m in the process of closing on a property so I’ll make a video on that when it closes

[@connorbyway8088]

nice video, thanks, learned a lot and thanks for giving us all the numbers, from ottawa so it makes it more realistic too

[@GriffinMilks]

No problem Connor! Honestly make sure to heck Gatineau too. I know people from Ottawa tend to not even consider it, but I live literally 4 minutes away from the byward market, and look at the opportunities!

[@connorbyway8088]

@@GriffinMilks yeah you do have a good point, I'll look into it thanks

[@yoyohuntolive]

Good buy, two things i wouldn't do is putting carpet in as you will be replacing this more often than vinyl floors and the starbucks on the stairs is $6 wasted. Other than that nice buy!

[@GriffinMilks]

Haha that is a $0.20 iced coffee I made at home in a $3 reusable Starbucks cup. Trust me, I refuse to buy Coffee there. Regarding the carpet, that's a good point. IU'll definitely be considering my options

[@JeanDagobert]

Congrats bro I’m happy for you.

[@GriffinMilks]

Hey thanks for tuning in bro!

[@meganc5765]

Yes, please also do a video on the quadplex and the related numbers!!

[@GriffinMilks]

Sounds good Megan! Thanks for tuning in :)

[@ruggedpassport]

Looks like a solid plan man, congrats! I have been interested in doing this around Montreal but unfortunately most duplexes are around $400K-$600K and are very old. Will keep saving and keeping an eye on properties!

[@robbiethedoggo6713]

Great work man!

[@GriffinMilks]

Thank you!

[@PierceJPeterson]

Awesome duplex man! Congrats on moving in 👍🏻

[@GriffinMilks]

Thanks a ton Pierce!

[@luketatomir]

Great video, I am looking to get into real estate investing in the near future and this helped a lot.

[@MrTommyfi]

Enjoy the new place!

[@GriffinMilks]

Thanks Thomas! I hope so

[@gregfarlane148]

Hey! Glad to see you back man, ws worried for a bit lol

[@GriffinMilks]

Alive and well over here!

[@CreateTech]

Congrats man!

[@GriffinMilks]

Thanks!

[@joshstewart5491]

Dude congrats!

[@GriffinMilks]

Thanks Josh!!

[@FrankBowness]

Congrats Griffin! I am a long time viewer and you are my favorite finance/investing KZbinr and my third favorite KZbinr next to Maxx Chewning and Christian Guzman, which means a lot!

[@GriffinMilks]

Haha no way! That's awesome Frank. yes it does mean a lot, thank you!

[@alecsoriano3451]

Hey Griffin how do you calculate maintenance & capex into your cash flow calculation?

[@miniafreeman9603]

I want to do this also. Yes I want more videos in real state. Thank you!

[@GriffinMilks]

More to come!

[@cashakatbone]

Hey congratulations!!

[@GriffinMilks]

Thanks and thank you for tuning in!

[@SBuchan]

Great content! Just subscribed - do you have any advice/recommendations on lenders in Canada? I'm based in Ontario and own 2 properties (principle & rental property) currently financed through traditional banks. I'm curious to know more options on leveraging these two properties to finance a duplex/triplex. Any advice would be appreciated and I'm going to continue to dig into your library of content incase you've covered this topic!

[@SpaceCatSupreme]

Sounds like you made a really good move. Congrats!

[@GriffinMilks]

I hope so yea!

[@WaysToWealth]

Duplex + Cheaper than usual rent...must be Montreal? Great to see your progress!

[@GriffinMilks]

It's actually Gatineau, but also in Quebec yes!

[@WaysToWealth]

@@GriffinMilks Awesome, congrats!

[@ntr6450]

Great video. Did you mention you are only able to get an OOL once and if lucky twice? How does that work?

[@GriffinMilks]

Yes typically you can get one and after than lenders will require 20% down, unless you buy another property with someone else, in which you benefit once again from an OOL. Otherwise, if you move again, you may be able to justify a second OOL on your own. consult with a mortgage broker

[@chengu832]

Great video Griffin ! 😀

[@GriffinMilks]

Glad you enjoyed it!

[@shayari218]

Thanks for this great video Griffin. If possible, could you please make a video on "Home Equity Line of Credit".

[@shayari218]

After watching your video, I plan to buy a house for me. I want to get your opinion on mortgage broker vs getting a mortgage directly from the bank. Which one you prefer or you think is the best. 2nd question I want to ask you is about the fixed and variable interest rate. Which one you prefer. I hope you help me out and again thanks for posting this great video and motivating me to buy a house.

[@kevindiyco]

Very helpful video. I myself want to get into real estate investing, but to be honest, I don't know where to start. Would you suggest inquiring to an agent first?

[@GriffinMilks]

Absolutely! Speak with an agent about your goals and what you're looking to accomplish

[@SD-qt4pd]

Thank you for such detailed info. Great video If someone has cash for outright purchase what will you recommend for investment property? Is it wise to stiil get a mortgage from a pure investment and cashflow perspective or using cash will make more sense?

[@GriffinMilks]

It makes much more sense to still get a mortgage from a return on investment standpoint.

[@SD-qt4pd]

Thanks Griffin. Can you cover this topic in another video.

[@cavshub7503]

Amazing video as always. Love the transparency. I live in Montreal, would love to come up and meet you someday!!

[@GriffinMilks]

Glad you enjoyed it! Let me know when you're in town!

[@mikelorenzo9018]

I was wondering when you were going to post! Good to see you doing well man

[@GriffinMilks]

Hey, thanks! Much more to come Mike

[@katiewong973]

Griffin, thank you for the Video. I was wondering what is your opinion on First Time Home Buyer Incentive, is it wise for me to put down 5% down and apply for the 5% Incentive loan /CMHC to make it to 10% down and lower the mortgage payments?

[@shritanjaybhatia737]

Which location are you investing in? It is tough to find such yields in each city

[@GriffinMilks]

I’m currently located in Gatineau Quebec (right next to Ottawa)

[@xxYoungGZxx]

Keep going man!!

[@GriffinMilks]

Hey thanks Garrett! For sure

[@MrEriklagace]

So if you had the money, would you purchase a house or duplex straight out? I guess the benefit would be that you don't have to pay interest but then like you said you are losing out on other opportunities. Or would you still take out a mortgage and use the rest of your cash to invest in stocks or possibly put a down payment on a second house?

[@GriffinMilks]

As I'm still in the growth phase of my investment/business, I would not outright pay cash for a property. To me, this doesn't make sense right out the gate until I have enough disposable income to feel comfortable with losing out on opportunity cost for the comfort of having a fully paid off asset. In the future though, absolutely that will be a goal of mine for a certain number of properties

[@tonyzhangcc1431]

Well done! Griffin

[@GriffinMilks]

Thanks Tony!

[@khit007]

Thank god you're back!!! I thought you might of had some tsla calls and just retired!

[@GriffinMilks]

No way! I'll be back to posting regularly Sarah! Thanks for tuning in

[@smithjan1409]

Very useful video Griffin, this property is in Gatineau? For the second house 5% down payment or 20%? What’s different between Gatineau and Ottawa to buy a condominium or a house etc..? Thanks man

[@GriffinMilks]

The difference between Ottawa and Gatineau prices is huge. I'm talking hundreds of thousands difference. The next one would be a different financing, so you'll have to tune into the next video to see, if it goes through!

[@sammt9825]

Great video, good job👍 I’m gonna move to Quebec 😂. 50km+ away from Toronto u can only get a townhouse for 700k+ 😬😬!

[@GriffinMilks]

Yea the GTA is insane right now. Very difficult to make home ownership accessible, especially for younger individuals. Makes the 5% down even that much more attractive

[@GloriaElenaGamez]

How is it possible to have multiple properties and pay 5% downpayment for your second one? - is there something else you did to accomplish this? Usually the bank will ask you to pay 20% down on any second or third property.

[@TobiDerin]

Interested in videos for your next building!

[@GriffinMilks]

Sounds Good Tobi! Thanks for tuning in

[@Intactility]

Is there a minimum amount of time you need to live in the property to take advantage of 5% down?

[@GriffinMilks]

Technically a year, but honestly after you’re in it, you can check your options.

[@at2022t]

Would you be open to offering advice/being a financial consultant sort of on an hourly basis type of situation? I'm also a young Canadian but don't know too much about finances/stocks etc. I try to learn as much as I can from your videos, but would love to actually have a one-on-one with you.

[@GriffinMilks]

Yes I'm working on a program as we speak that will offer some more personal consulting! I'm planning on having it ready in the coming month to two months. In the meantime you can book a time with me through email using the "Join" button on my channel (only on desktop). Cheers!

[@sliq1]

Damn, here in Montreal even with 20% down it's almost impossible to be cashflow positive...

[@tonyzhangcc1431]

Griffin, very interesting! which city is your duplex located? Toronto?

[@GriffinMilks]

Thanks for watching Tony! This is in Gatineau actually, the city on the other side of the river to Ottawa

[@kid20777]

Apart from youtube what kind of day job do you do ?

[@GriffinMilks]

Database Analyst at gov of canada

[@TheMangoJuiceStain]

What about utilities like gas/water/electric? Wouldn't those account for at least ~$1500 per year?

[@GriffinMilks]

The tenants pay their own utilities. Yes I have to pay those expenses on my side also, but I would have to at any apartment also. This calculation is for the housing costs only. Also there is no water bill in Quebec

[@TheMangoJuiceStain]

@@GriffinMilks Fair enough, great video btw keep up the good work

[@Slickpete83]

what region and neighborhood is this in ???? where i'm from Toronto even studio condos costs +$450K lol... , for $285K u can't even find a Tree House hahahahahhaha.....

[@TobiDerin]

I think he said Gatineau, QC. Places are more affordable there

[@GriffinMilks]

Yea in Gatineau. The prices are WAY more affordable here than even Ottawa, which is a 5 minute drive from my house.

[@kylenichols8944]

Yeah I’m in Toronto too and this is legit impossible. Even when I was at Uni in Ottawa about 5 years ago these numbers were wild. I’d be curious to learn more about the provincial tax differences in Quebec v Ontario

[@coastaltrailsmedia5716]

@@kylenichols8944 There are huge differences in taxes across the different provinces, but I would also mention that while Toronto is super expensive and house hacking is pretty difficult, it may be interesting to look into the surrounding area of the GTA Similarly to in Montreal, certain parts of the island are "cheaper" (still 400k for a single family home) but those areas are having an extension of the metro lines built and so access to downtown will be much easier and it should drive those house prices higher in the next 5 to 10 years after its built!

[@TaraKlippert]

I was also wondering! I'm from up in the Yukon Territory in Canada and I just sold my half duplex last year for 345,000. Now I bet it would be closer to 400,000. To buy both sides you'd be looking at around an $800,000 investment!

[@1bizkid]

How come it was only 5% down, isnt it min 20%? Unless you get the federal govt first time home buyers incentive?

[@GriffinMilks]

You can get a 5% down loan for a single family or duplex if owner occupied. 10% for triplex or quadplex. You aren’t forced to put down 20%

[@1bizkid]

Griffin Milks ohh interesting , I’m in Montreal and I thought it was 20%. I was thinking of buying a duplex and house hacking. However the Mtl market is a bubble and too expensive. There are some better deals in the suburbs or Sherbrooke. I was thinking of getting a duplex for around 400k. So putting 40k down is very doable, I thought I’d need 80k which is too much. Thx 🙂

[@linksys813]

Just curious...how many sq feet is each unit?

[@GriffinMilks]

3 bedroom about 1500 or more I think with a huge backyard and the 2 bedroom is about 1200

[@linksys813]

That's amazing for the amount you spent. Congratulations!

[@GriffinMilks]

Yea it’s a great market out here

[@omaraboona4991]

Where in Canada do you live ?

[@GriffinMilks]

Hi Omar. I live in Gatineau!

[@omaraboona4991]

Thats why you bought a property with that price lol its impossible to do that in the GTA.. best of luck Griffin 👍

[@psychologyfactstothinkabout]

How did u calculate tax?

[@GriffinMilks]

There's no taxes on the purchase of a used house.

[@psychologyfactstothinkabout]

Does duplex mean 2 bedrooms?

[@cashakatbone]

One house with 2 separate units. Think two apartments one building.

[@GriffinMilks]

Exactly this!

[@cookshackcuisinista]

Happy for you! Air BNB here we come! Lol! Oh, and you need a railing for those stairs!

[@GriffinMilks]

Off Air bnb is getting cracked down on so I won't be venturing in that space, but regardless, thanks for watching Anita! Have a great day

[@stevee1414]

Damn. the price in QC is so cheap!!

[@GriffinMilks]

It really is compared to other markets. And this is 5 minutes away from Ottawa so appreciation over the coming years should be stellar

[@Mikchops]

"sorry for the mess" Haha you are never able to see my house if that's messy 🤦‍♂️ Congratulations on the big move.

[@lauralynnscarfo4907]

You kinda look like Justin Timberlake Griffin! Lol

[@GriffinMilks]

Lol, I'll take that as a compliment Laura! Thanks for watching, hope you're doing well lately :)