Where does one start?

[Melody P.]

I have recently started to learn what it is to be wealthy, which I never wanted or cared for... silly me, I dIdn‘t know it meant freedom. I now find myself in a position that requires me to have money coming in from a non-employment source, and I have none. First of all: I need to express my gratitude at learning this lesson early while I’m debt free and young enough to impact my children’s futures. Second: Can someone point me in the right direction as to where to start? I currently only have $30,000 available to start my portfolio. I am located in Nova Scotia, housing can be quite affordable, however, I am on leave from work and unfortunately I cannot return to work as I am caring for my spouse who requires constant care for the forseeable future. I know this makes things so hard. What can I do? How can I buy my first rental? Where do I start? I‘ve been watching Youtube and reading all the books recommended, I am unsure about the strategy I should take. Thank you for any and all advIce.

[Christina Peterson]

Hi Melody,

I'm sorry to hear about what you're going through, but things will get better! They always do!

In terms of getting started, my best suggestion would be to seek out a mentor that has done what you are interested in doing so that you can bounce ideas and get your questions answered. Are you interested in using hard money for your deals? If so, it might be a good idea to speak with a hard money lender and find out how much you might qualify for and how it might affect your finances before you really start looking at properties to invest in.

Also look for local real estate groups in your area (if available) where you can connect with all types of investors that can provide a wealth of knowledge. Hope that helps! Good luck!