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Updated about 11 years ago on . Most recent reply

User Stats

16
Posts
3
Votes
Charles Burkholder
  • Contractor
  • Bancroft, Ontario
3
Votes |
16
Posts

20 yr old newbie....Buying the second rental property....

Charles Burkholder
  • Contractor
  • Bancroft, Ontario
Posted

Hello guys, this is my first post. I just opened an account a few minutes ago. I am 20 years old and I am not the average kid. I have ambitious goals of rental real estate investing. I have a private pilot's license and studying for my commercial pilots license, building my own airplane and already own a duplex with a cap rate of 13%. I bought it with 20% down and with tenants in it already so I haven't put a nickle down on the mortgage out of my own pocket. And I don't come from a wealthy family. My parent's make less then $35000 yr. I have worked hard and saved hard. I am looking for my next property and read blogs posts or articles of how somebody gets started in investing and and keep on buying one property a year etc. My question is how they do that. Do they re-finance their existing properties to get the down payment amount?

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