Quebec city, QC · Member since 2018 · 5 posts · 0 votes
Hi everyone,
It is my first day here at BP. I know that this is going to change my life and I could not be more excited. I am currently living in Quebec City (Canada) and looking ahead for someone I could have discussions with about how to start and how to get educated. My plan is to save money for the next year or so to get my first down payment on my first buy. Is there a way to accelerate things?
It is a real pleasure and honor to be among all of you here!
Oshawa, Ontario · Member since 2017 · 35 posts · 15 votes
8y
Bienvenue a bord! Welcome to the roller coaster @Remi. Wish you all the best for 2018. Do you plan to invest in Quebec only or elsewhere? Also, just to inform you that I was not being able to tag you in this post. It might be the accented e in your name that is causing the problem.
Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
8y
@Rémi Bédard I agree with what @Jessica Frasier stated about working with others to raise money, however, there is a lot to be said by doing a few deals first with your own money or with money you can access from your personal credit along with hard money lenders before bringing in money from other outside sources. That’s just my opinion. But now when I partner with people I want to see that they have some track record before I trust that they will know what to do when things don’t go as planned. And in my experience, things never go exactly as planned.
Real Estate Investor · Fairfax, VA · Member since 2016 · 44 posts · 20 votes
8y
@Shiloh Lundahl makes a good point! I don't know what your goals are, but there are people who get started by raising money from family and friends- people who know the investor at a personal level and see their drive and motivation. Over time, they are able to establish a track record and credibility to attract experienced partners.
Either way, you'll get a lot of great advice in the forum. Good luck!
Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
8y
@Rémi Bédard another great way of getting stated is partnering up with a mentor in your area who is doing what you want to do and then adding value to their business.
Specialist · Denison, TX · Member since 2017 · 22 posts · 17 votes
8y
All the way from Texas, welcome, Remi! I'm still in the beginning stages as well, but I think the most important thing is to build that foundation of knowledge. As others stated, find a mentor. My mentor happens to be my brother in law, who is doing well in Real Estate Investing, and has agreed to let me apprentice with him. I offered to be available to help him with anything I can, unpaid for now.
Learn the language and build up that knowledge by listening to the podcasts, reading books, getting to know other people in the business, etc.
Look up Brandon Tunrner's podcast/webinar video "the 90 DAY CHALLENGE"
Learn how to find deals (driving neighborhoods or surfing the web for dollars - or deals)
Learn how to run the numbers from those addresses in a calculator (you can find smartphone apps to plug the numbers in, and BP offers calculators but you have to be a Pro member) to find out what the magic number is.
Personally, for now, I'll be bringing deals I find to my mentor, and we will proceed together.
Extra information on all those topics can be found in forums and podcasts. Be persistent, patient, wise, and humble. Stay teachable and be generous with what you learn towards others!
Cheers!