New to biggerpockets

6 Replies

Hello

My name is Peter from Edmonton AB in Canada

Here in Edmonton, it is snowing hard and weather is just getting colder day by day.

I am a recent graduate from University of Alberta and currently working as a full time pharmacist. It pays my bill but I feel very insecure about my future and I would like to retire as soon as possible so I can spend more time with my family and friends.

My goal is to gain financial freedom through real estate investment but it seems like the numbers don't look so promising up in north here in Canada.

So I was doing some research and it seems like there are more opportunities down in States.

I have gone through many blog posts and podcasts and realized it is time for me to now establish good relationship with fellow biggerpockers in this website.

I am looking to invest wherever positive cashflow can be generated.

Atlanta, Kensas city, Texas, Indianapolis seems like the area of my interests.

To my knowledge, I think I would have to get connections with attorneys and accountants that are professionals in cross border laws.

Obviously, I am going to be in need of good property management team as well as good realtors who can be my eyes and ears in the future when I start investing.

Also, getting mortage approved as a Canadian investor is hard so I need to pick your brain in terms of how I can borrow money for my future properties

If you guys could provide me some good detailed information about what I am looking for that will be very much helpful

Thank you!

@Peter Jung  If you're goal is cash-flow, I like both Indianapolis and Kansas City. In general, the Midwest tend to be good cash flowing markets because of affordable prices and strong rents. In my opinion, Atlanta has been played out. Prices have been driven up a lot in the last 2 years. Texas has a great economy but they're also among the highest in the nation for property taxes and insurance which eats up your cash flow. Also, with oil prices hovering somewhere around $75 a barrel, it warrants being cautious. That can have an impact on the energy and oil related economies. Oil and gas account for 10% of all the jobs in the 6 top oil producing states. It's not hard to see how depressed oil prices can impact these economies. A surprising fact is that Indianapolis' unemployment rate of 4.8% as of September is actually lower than Dallas'.

I've done podcasts on the Indy and Kansas City markets. I can send you links if you'd like.

Mike

@Peter Jung  Welcome to BP! You can gain a vast amount of knowledge here on the site, just continue to reach out like you did here.

Indianapolis is a great market for cash flow investing. You can definitely get great returns here if that is your goal. I'd be happy to help you narrow down your search criteria/area. You want to be careful in Indy as the good areas vary street by street, so you will want to have someone here in the market to make sure you are looking at a good area. I'd be happy to help you analyze any deals that come your way.

I'd recommend reaching out to @Shawn Holsapple  . He is an active investor here in Indy and is also very active on BP. He is extremely knowledgeable and is always working deals. I believe (he can correct me if I'm wrong) he used to live in Canada and still works with investors from up there, so he would be a great resource for you.

Thanks guys

I will work towards to get my first deal done soon. Just trying to figure out how to borrow money from bank and other possible cash lenders and trying to find somebody who is familiar with cross border laws.

Welcome to BP @Peter Jung  .  St. Louis is also a great city to consider, albeit, the ones you are considering probably over more opportunities for appreciation.  Good luck!  You've already gotten some really good advice!

Welcome @Peter Jung  !

Yes, I spent 5 years in Calgary, AB and traveled many times to Edmonton [Go Oilers!]

I actually bought my very first rental while I lived in Calgary.  It was in Indy.  I understand the challenges of being an out of State/Country investor.

Finding a lender to work with a foreign national is tough but can be done.

Yes, I'm partial to Indianapolis and would you seriously look at our market.

- it's always good to see another invstor utilizing this great site!

Of course, you need to read The Ultimate Beginners Guide to REI here on BP

If you haven’t already, please read/listen to these books ASAP!

Rich Dad Poor Dad

Rich Dads Cash Flow Quadrant

Rich Dads Increase your financial IQ

The Real Book of Real Estate

The ABC’s of RE Investing

The ABC’s of PM

Rich Dad RE Tax Advantages

The E-Myth

The 4 Hour Work Week

http://flip2freedomacademy.com - free e-book

Flip2freedom episode 77[http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/] - podcast - LISTEN TO THIS TODAY!

BiggerPocketsPodCast

Wholesaling101 You Tube Channel

Kent Clothier – You Tube Memphs Invest channel

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