Newbie from Thunder Bay, ON

6 Replies

Hey BP, my name is Jeff Nishimura and I was born and raised in Thunder Bay, ON.  I am 21 currently studying my fourth year of Civil Engineering at Lakehead University.  In terms of hobbies, I love almost anything to do with the outdoors (alpine skiing, mountain/road biking, camping and fishing) and if I haven't done it I am willing to try it.  I used to run marathons but stopped due to my education getting in the way but I have recently got back into long distance running.  I currently do not have any experience in real estate investing however I have been an avid stock investor for the last 3 years and after reading Rich Dad, Poor Dad I am excited to expand my investing into the real estate market.

@Jeff Nishimura welcome to BP. you will find an enormous amount of education here. Rich Dad, poor Dad is great ( read it 5 times) but there are so many! e-myth, the millionaire next door, one thing, just some that come to mind. and of course BP books! I've listened to all the podcasts, some several times. at every turn of my journey, they bring more and more insight! wishing you and he best on your RE journey!!!

@Jason Bruning I'd like to start with a single family as I've read and heard from multiple sources that it is a good first buy.  Although I would consider as large as a quad-plex for my first buy.  Ideally, I would like to work my way up to multi family within the next 7-10 years.  In terms of my goals, I'd like to be financially free before 35 so I can spend more time doing the things I love as I have already found that with my profession is very time demanding.

@Tatyana M. Thank you and I've quickly come to realize that! As a stock investor I've always thought real estate investing was high risk and lots of work so I've opted for REIT's in the past but after many hours of listening to podcasts and reading books I've learned that it can be a hassle-free and low risk investment as long as proper planning and expanding education is practiced.

Howdy from Toronto Jeff.
I’m a realtor in the city.

As a student you would be wise to invest in a student property close to school. Higher risk involved when dealing with students but there are advantages if you’re living in the house and having your buddies pay down your mortgage.
Further, there’s no shortage of students coming down the pipeline so you can at least guarantee yourself a steady flow of future tenants.
Even more, you don’t have the crazy Toronto investors driving up house prices in the bay.

Find something where you can add some value ie. a basement apartment/an undervalued attic

If you need someone to send you mls links, holla.

@Sol Kassam Thank you for the advice!  I still live at home so there is no need for roommates but I was curious to see what other investors think of student tenants.   I am still in the research and learning phase but I plan to make my first deal by the end of summer.  I do appreciate you reaching out, hopefully we can work together in the future!

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