16 years old , wanting to get into the real estate game

London, ON · Member since 2018 · 7 posts · 4 votes

Looking for advice as to how I should go about starting to look for potential units to purchase, that I could than rent out or resell in the future . I’m based in London Ontario , and I haven’t really been able to find much on this forum about Canadian Real Estate purchase/management . However any feedback as to what steps I should take before purchasing and than reselling or renting out properties would be of great value to me !

0 Reply

11 views

Most Popular Reply

Nathan GesnerBusiness Member

Moderator

Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes

Invest from a solid foundation of financial discipline. If you follow the "get-rich-quick" or "no-money-down" gurus you will end up making them wealthy and yourself poor. If you are faithful with a little, you can be faithful with a lot.

Find a mentor. Join a local investing group and learn. If you are fired up, honest, and half-way intelligent, someone will take you under their wing. Be sure to offer something of value (generally your labor) in exchange for their training.

Work hard and save your money so you're ready to act as soon as you legally can and the deal presents itself.

The DIY Landlord Book4.7248 Reviews

Website View Page

1 Reply

See this reply in the discussion

15 Replies

Jump to latestLatest

Sort by

Erik Anderson
Rental Property Investor · Hilton Head Island, SC · Member since 2018 · 24 posts · 13 votes
7y
@Alexander Breich Love your motivation, start with reading Rich Dad’s real estate investing books. You will have to have your parents help you however since you cannot sign a legal contract until you are 18. Good luck
0 Reply
Account Closed
OP
London, ON · Member since 2018 · 7 posts · 4 votes
7y
@Erik Anderson Thank you! I’ll make sure to add his books to my reading list.
1 Reply
Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
7y
Invest from a solid foundation of financial discipline. If you follow the "get-rich-quick" or "no-money-down" gurus you will end up making them wealthy and yourself poor. If you are faithful with a little, you can be faithful with a lot.
Find a mentor. Join a local investing group and learn. If you are fired up, honest, and half-way intelligent, someone will take you under their wing. Be sure to offer something of value (generally your labor) in exchange for their training.
Work hard and save your money so you're ready to act as soon as you legally can and the deal presents itself.
The DIY Landlord Book4.7248 Reviews
Website View Page
1 Reply
Matt Geerts
Investor · St. Thomas, Ontario · Member since 2015 · 692 posts · 312 votes
7y
@Account Closed There are about 4 regular meet-ups in London for real estate investors. Show up, listen, ask, learn and offer to put your time and energy into someone else' business to learn how they do it and benefit from the success that you help them with. Feel free to connect.
1 Reply
Account Closed
OP
London, ON · Member since 2018 · 7 posts · 4 votes
7y
@Nathan G. I’m currently working for a small business , so I feel as though I am developing a relationship with my boss . I’ll be sure to try to ask him more business related questions . Thank you for the advice ! it has given me a better outlook as to what I can and should do right now in order to be better prepared for the future .
1 Reply
Account Closed
OP
London, ON · Member since 2018 · 7 posts · 4 votes
7y
@Matt Geerts That’s awesome to hear ,are there online postings as to when and where these meetings are ?
0 Reply
Matt Geerts
Investor · St. Thomas, Ontario · Member since 2015 · 692 posts · 312 votes
7y
I post once per month for meetups that we do at Tiger Jacks, feel free to collegue-request me and send me your email address or add me on Facebook and join the London Bigger Pockets Meet-Up group on Facebook. You can talk to @Shawn Allen about ONREIA, @Dylan McLauchlan about REAL and if you contact me I can get you hooked up with the LAREIC email list which will lead you to their meetings (I think they're doing facebook now, too).
0 Reply
Thomas S.
Member since 2016 · 13k+ posts · 12k+ votes
7y
Concentrate on education and future employment. Stead employment with high income goals should be what you concentrate on now as the primary part of your future real estate investment plans.
You will not be doing any "investing" except in education until you get established in your future career path.
Unless.... your parents are investing in which case you could ask to contributr your savings to a purchase as a portion of the ownership.
1 Reply
Kellan P.
Rental Property Investor · London, Ontario · Member since 2016 · 79 posts · 19 votes
7y
I'm not sure if these will get removed, but feel free to come out to our free meetups - REAL or London on FIRE (LDNonFIRE) - anytime! Around 30-40 of us meet up every month :)
1 Reply
Account Closed
OP
London, ON · Member since 2018 · 7 posts · 4 votes
7y
@Kellan P. @Matt Geerts Thank you both so much ! Just sent my requests to join both Facebook groups , excited to be able to learn more about investing from members of the London community.
1 Reply
Kellan P.
Rental Property Investor · London, Ontario · Member since 2016 · 79 posts · 19 votes
7y
@Account Closed - looking forward to meeting you - I'll be at the next LDNonFIRE meetup next Tuesday the 30th! If you're starting at 16 years old and already networking, you have a very good chance of becoming financially independent at a very young age :)
1 Reply
Account Closed
OP
London, ON · Member since 2018 · 7 posts · 4 votes
7y
@Kellan P. Looking forward to meeting you as well! Ultimately financial freedom at a young age is my goal , so that is really inspiring and motivating to hear .
1 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.