The investment seminar I took promised to teach me how to invest in property for no money down and even with bad credit. But now that it's all said and done I am wondering if I was duped because I've been told that assigning homes in Quebec is illegal (which was one way to start making money with Real Estate without putting money down) and wholesaling doesn't apply here because we have quite a strong market, so I'm just not sure where that leaves me on how someone with no money can break into investing in the Canadian market. Will the no or low money down book written by Brandon Turner apply to me living in Montreal as well?
I'm not defeated, just wondering what my options are, any advice would be appreciated.
Bienvenue chez BP! / Welcome to BP!
I'm naturally skeptical of real estate seminars and gurus "no money" investing schemes. It is possible to purchase properties in la belle province, or the rest of Canada, with little down payment, but such opportunities will be few and far - particularly in the larger urban centres - and you won't be finding them on the MLS.
While one may have little money starting out, naturally one will have little experience. Making deals with little or not money down is less likely with a green investor than one who is seasoned.
There are lots of options to work in real estate (agent, appraiser, contractor, house staging, etc) while you gain experience and some will even afford you an income while you learn.
As for assignment of contracts or options in Québec, there are folks doing so. You may want to reach out to @William Johnson who is doing just that in MTL.
Thank you so much and I will reach out to @William Johnson.
Free eBook from BiggerPockets!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!