New Member from Canada

[Jeff Travis]

Hello everyone! I am a 22 year old student living in Nanaimo, British Columbia on Vancouver Island (Canada). I came upon real estate investing through watching YouTube videos of Robert Kiyosake and decided to search podcasts for more on the topic. I have been listening to the Bigger Pockets podcasts whenever I get a chance and am fascinated by the idea of not having to work a dead end job for the rest of my life. I am a little bit discouraged that I have spent the last four years working towards a biology degree (not to mention all the tuition) instead of working towards building a real estate investment portfolio. But anyway I am debt free and actually own my own 2 bed/2 bath condo (through inheritance money) and am looking to start getting into this business. I am most interested in house flipping and buying rental properties. Thank you for making this such a great resource for new investors, it really is a goldmine of information. Jeff

[George Holmes]

@Jeff Travis

Welcome Jeff.  

If you are graduating soon, you may wish to apply for a home equity LOC on your condo to use to fund down payments on income properties. This would require interest only payments and would be a deductible business expense. You should be able to raise 75% of the current value. The rates are currently around 3.5%.