Rentals Properties, lenders

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22 years old apprentice electrician looking to get into real estate investing. Primarily rental properties, i have money saved up, but i dont have enough income to get approved for a certain amount. Any idea what i can do ? Thanks

Hey @Ervy Mak - happy to discuss options. Qualifying is a standard challenge most go through, would be happy to look into your situations & see if there are any options you may not have considered. Send me a DM.


Hi Ervy,

I'm just starting out as well. The first step is a little bit of education. 

Have you found Matt McKeever's channel on Youtube yet?

Also there are a few excellent podcasts that I listen to religiously.

Those are all Canadian, by the way.

The next step is: find a market (a city to invest in). It's easiest to start in your own backyard (Ottawa). To be a smart investor, know what the FMV (Fair Market Value) is for each neighbourhood is in your city. Then get into zoning regulations and stuff like that, but that can come with time. You NEED to know the FMV of a neighbourhood you want to invest in, though.

Also, start going to investor meetups in the city. Connect with other investors face-to-face as much as possible.

Also, assemble your power team: *Realtor, *mortgage broker, *lawyer, accountant, contractor, home inspector, insurance broker, mentor.

* = must haves

Honestly, a mentor is a must have too, but if you're not ready to pay for one, a good mentor can be hard to find. Look for someone that you can walk through deals with. Do the hard work for them. Take initiative on each step. You'll F*** up each step, probably, but a good mentor will let you stumble a little, help you back up, and point you in the right direction (especially if it's their deal you're working on).

Hope this is useful.

All the best, Ervy.

@Ervy Mak I would definitely take @Jacob Perez up on his offer to chat. He has a lot of knowledge in the mortgage market and in real estate investing in general.

This board can also be super helpful, although not nearly as active to Canadian investors. There are some great Facebook groups out there as well, that we have found very helpful as we've expanded our portfolio in the past year.