New Member from Toronto/Niagara Falls, Ontario

13 Replies

Hello everyone, My name is Joseph and I'm new to real estate investing or should I say I have known about real estate investing for a while but never took substantial action. I am excited to be in the company of people who are living the life and making progress. I'm also in the process of getting my realtor license. I'm looking forward to learning a lot from you all and forging and being a productive member of this community.

I am a software quality assurance manager in Toronto, ON and live in Niagara Falls(St Catharines) ON. I feel like there are tons of real estate investment opportunities around be but I have to clue how to take advantage of them. I'm looking forward to taking the big leap and doing the first deal in a few months.

Glad to be here once again!

Joseph O.

Hi @Joseph Ola ! Welcome to the BiggerPockets family! You came to the right place to learn all about real estate investing! Here are some recommendations for you:

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Welcome Joseph!  Sounds like you're on the right path.  Gain a bunch of knowledge on different methods, etc and keep looking at deals and crunching the numbers.  Prepare yourself and then be ready to pull the trigger.  A lot of the time the good deals don't last. I was in your similar position about 13 years ago.  My first deal was scarry but after that it was easier.  Good luck.

Wow! I am blown away by how active and welcome this community is. Thanks everyone for the warm welcome. @Marlon Fong . Thanks for the links. I'll check them out.

@Joel Noel Thanks for the advice.. I guess my main reason for holding back is not knowing how to properly assess deals and crunch the numbers. Looking forward to learning.

@Dan Barli I want to pursue single family at first and move into buy and hold later on or just having buy and hold as another exit for flips if needed.

I'm in ontario canada but I'm impressed by howmany canadians head down south to invest. Looks like I'll be joining the pack soon :)

Hi Josef 

I am an investor I  Kitchener, Csmbridge, Guelph and I also have 3 bungalows in Florida near Orlando.

You should probably make your first investment in St Catherine's where you live.  There is positive cashflow opportunities there.  I can help you crunch the numbers.

The thing about investing in the USA is that you are laying a 30% premium due to exchange rate.

And you need to put more cash down.  

Connect with me anytime.

Originally posted by @Roy Cleeves :

Hi Josef 

I am an investor I  Kitchener, Csmbridge, Guelph and I also have 3 bungalows in Florida near Orlando.

Thanks Roy. Good to hear from someone on this side of the pond :)

Is are any where to look for cases studies of identifying good deals that I can actually practice with?

Hi Joseph

We can practice with homes in your area.

Pick a newer townhouse or semi-detached in your area and send me the asking price and what you think you can rent it for and I will help you work out the numbers.

@Roy Cleeves , I have a townhouse and a detached house I dug out of MLS and rentals in same neighborhood.

Townhouse

20-60 CANTERBURY DR - $1,750 CAD / MONTHLY

21-60 CANTERBURY DR - $399,000

Detached

25 Victor Boulevard E, St for rent  $2,200 CAD / MONTHLY 

22 Victor Boulevard, St. for sale $449,900 

@Joseph Ola

I am assuming you will be putting 20% down and getting a mortgage? Have you been approved?

Next just run the numbers using full asking $400k and how much will the mortgage be at current rate @ 25 yr amortization. The rates went up big time yesterday btw

Once you figure out monthly mortgage payment, property tax and insurance and the total is substantial lower than the market rent then it’s worth looking into.

Also are you finding the tenant?

This is just the tipping point of questions.

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