Start of real estate investing journey

12 Replies

Hi everyone!

Joe, Here! In the past 2 months, I've found real estate investing to be a new passion that I want to become a reality. A bit about me, I'm in my mid-20s, in IT for a large corporation (love my career path and job), gym addict (no seriously, I'm addicted.. I workout 6 times a week haha), optimistic individual and looking to have enough cash flow to cover my lifestyle/expenses through real estate investing. I'm spending a lot of time every day learning as much as possible through biggerpockets, youtube, books, analyzing deals, etc, and currently projecting to jump into the market at the beginning of 2022. My interests are in the multifamily sector (duplex/triplex mainly) in the Waterloo region (Waterloo-Kitchener-Cambridge), Guelph, Oshawa, and Woodstock as the market in these areas seems to have untapped potential, that needs light-medium rehab, with a 10% cash on cash return (this can vary).

I'm obsessed with learning and would greatly appreciate any guidance/mentorship, references to real estate agents/brokers, mortgage agents, attorneies, and accountants to start a team and push on my first venture in real estate investing because I truly feel and as studies show this is how you get wealthy. And in all honestly, that's what I'm striving for to in turn help my family, friends, and myself become financially free and break the rat race cycle starting with my generation.

Lastly, even if you aren't from Canada, Ontario I would still love to speak with any of you as this platform has so many unique walks of life that I'd love to hear from (BP videos are great but getting live feedback is always better).


Thank you in advance.

Joe

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Hey @Joe Brown ,

Welcome to BP - Tones of great contacts here. i've been investing in small & large multi-family in Ontario for years. It's a great place to start. 

With that said would be happy to chat anytime. Feel free to send a DM.

Hey joe, @Joe Brown it seems we have a lot in common. I am from Canada also very interested in real estate especially the multi-family side of things. In my early twenties and I love to workout and learn about real estate and everything related!! Feel free to DM me and we can chat! Look forward to hearing from you. 

Cody Shearer

Hi Joe, as you can see BiggerPockets is an excellent wealth of resources whom are all amazing and very supportive.  Im an investor with a handful of properties, my partner Roy Cleeves, owns several, manage of 120 properties, and now building.  We have clients who flip, brrrrs, and some pre-construction.  No shortage of opportunity yet lots to digest depending on your goals and interest.  Welcome to DM me anytime.

Hi Joe, welcome to Bigger Pockets! 

I am relatively new as well but we seem to be very similar; I too am planning to buy my first small multifamily early-mid 2022 in the KW or Guelph region and am trying to connect with as many like-minded individuals as I can over the next few months.  

Like @Cody Shearer I love working out and am also in my early twenties. I'd love to connect and chat!

@Joe Brown Welcome to BP. Happy you to read about your new passion and your "why" for this. From one gym addict to another, you will need the endurance /stamina for this journey, good on you to start out right. In my practice as a mortgage broker (BC & Ontario), I admire younger clients who boldly take that first step towards their real estate goals. I started at 21 (read my profile) and have not looked back. A wise man once said, "Don't wait to buy real estate, buy real estate and wait." Welcome!

Hi @Joe Brown wow - I read your posts and said wait a minute, is this me talking? I can literally echo your enthusiasim + passion for fitness. Seems like scouring through this thread I see that a couple of others are as well - so nice to meet you all and definitely open to connect @Cody Shearer , @Meagan Peters @Julie Toh - I actually started digging more into opportunities in the US but again, from an education perspective - just being a sponge with all processes / different avenues available for returns etc. 

I do agree that a multifamily may offer the best in terms of returns if the right deal can be struck, I am based in the GTA and part of the reason is the relentless appreciation of properties here which is leading me to look elsewhere so Waterloo region / kitchener are areas that I'm not as familiar with but have heard some successes. I am open to connect as well and really am driven to get this to work. Cheers all

Kevin

@Kevin Mercado Welcome to BP.  You may be on to something if you look to Waterloo /Kitchener. The Waterloo Region is a growing ecosystem of over a thousand tech-related businesses, this in itself is appealing to REIs. Would it work for you to house hack i.e. to buy a MF, live in one unit and rent the other? This strategy is eligible for an insured mortgage.

Hi @Joe Brown , thank you for that introduction, and welcome to BiggerPockets.
I hope you continue to learn from everyone on this platform.
If you have not, great books to read are:
 Rich Dad, Poor Dad
 The Millionaire Next Door
 Cash Flow Quadrant
 Tax Free Wealth
 Set For Life
 Rental Property Investing
 The Millionaire Real Estate Investor
 The REAL Book of Real Estate
 So Good They Can’t Ignore You
You are more than welcome to reach out if you have any questions.
Good Luck and go make it happen!

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