Real Estate In Canada

[Akeem Codner]

Hello Everyone I’m new to this forum and new to the whole world of real estate investing. I’m interested in starting my real estate investment journey but I don’t know where to begin. For one I don’t really have much money and I also live in Canada (Saskatchewan ) to be exact where based on my knowledge there’s really no fixed rate mortgages here only variable rate mortgages. If there’s anyone here who could point me in the right direction or give me some guidance on how to get started I would really appreciate it. 

[Theresa Harris]

Your profile says you are on Calgary, not SK.  We do have fixed rate mortgages here in Canada as well as variable rate mortgages.  You will need 20% down payment to buy a rental unless you plan on living in it, in which case you can do 5% down, but will need to pay for CMHC insurance (which over time usually costs more than putting 20% down).  Start by deciding where you want to invest (ie in your home town or elsewhere).  I'd start by first talking to a bank to see what you can afford and then talk to a local property management company (assuming you want to invest locally) to see if they have someone who is licensed as a realtor that can show you some places.  They will know about the rental market and what things will rent for.  Then you need to run the numbers to see if they make financial sense to you in terms of your costs vs rental income.