First time real estate investing need advice?

Question

Hi I'm interested in investing in real estate. I have about 60k to put down. I was just wondering for anyone in the GTA area where is the best places to invest in duplex and triplex etc..? I'm looking to buy a real estate property that cash flows. Everything is so o overpriced. Should I wait for the market to come down? It shows no sign of slowing down? What type of financial route should I take with rental properties? Looking forward to others opinions. I'm new and I just want to learn from others experience!

Zach Bousquet · Answer

@Issa Elevo

Hello Issa!

I live in the GTA, but I’ve learn to outsource to small cities outside the GTA. There are a lot of properties to take advantage of that way. If you play it right, you can find places that have less expensive houses with similar rental rates.

I agree with the others in never trying to time the market. If you do, you will never end up buying. Rentals are for the long haul and will even produce income during the toughest of times.

Feel free to reach out and I can share a bit of my strategy and give you advice where there are potential opportunities!

Regards,

Zach Bousquet.

Mortgage Agent.

Multi-family Investor.

Hai Loc · Answer

@Issa Elevo

If your a complete newbie you should learn cash flow analysis..

Once you get a grasp you should see how much of a mortgage you are approved for. If you need referrals let me know

Jon Reed · Answer

@Issa Elevo Have you read any books yet on real estate investing? If not, read through every book you can find and that will help you find out what investment method works for YOU (because you have decided your risk tolerance and long term goals).

Never wait/try to time the market to see if the market comes down. If you are investing for the long term then you should always be buying smart investments.