Investing in New Brunswick
I am new to real estate investing and wanting to buy first duplex where I would be living on one side and renting the other. Currently I am living on rent in Moncton city, New Brunswick
I have gained enough knowledge to get started but the only thing that is stopping me is the downpayment . I have low paying job and could not save much , is there any way or any tips so that I can save enough to downpayment.
I also invest in stock-market a little for the goal to save for downpayment
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I can't say that I agree with Joseph. I think that you are making a wise choice in planning to invest in Moncton. I have a full time job, while owning/managing 8 rental properties with 19 units in Moncton. I spend 80% of my time out of province, and having the right team is crucial.
When it comes to saving for your down payment, I would recommend trying to find a way to use other people's money if possible. If not, then you can improve your savings rate by managing your spend rate; try cutting unnecessary expenses, and creating and following a budget. If you're able to create another income stream in your spare time, try to find something profitable that interests you, so that you don't get sick of it and burnt out.
The good news is, you only need 5% down for a primary residence.
"If you really want something, you'll find a way. If not, you'll find an excuse." I'm sure you will find a way!