All Forum Posts by: Joe K
Joe K has started 3 posts and replied 13 times.
Rich Dad Poor Dad
-Robert Kiyosaki
The 17 Principals of Personal Acheivement (Audiobook)
-Napoleon Hill
How to Get What You Want
-Zig Ziglar
Post: How Do you Declare Rent amount?
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Hey everyone,
just wondering how you would find out what to charge for rent, which is obviously what you subtract from expenses to find your cashflow.
Is it derived from similar properties in the area?
thanks
Originally posted by Dave W:
Even though it may be difficult it can be done. Have you considered bird dogging? You will gain a ton of knowledge and also a little cash to fund your deals.
Am not sure what bird dogging is, and nope, I am not planning on going to university. My sister is but i stressed the importance of financing with investing, and she is now looking for people in her area to invest with!
Originally posted by Jason Hanson :
Starting networking at your local real estate investor meetings. I would find an older, edxperienced investor who will take you under your wing.......in fact call my office and I will give you a bunch of stuff to get started...just tell whoever you talk to that you are the 16 year old investor who Jason said to call.
Jason, I attempted to call your office several times only to have the operator tell me that where I was calling to was unavailable from where I am located.
Glad to see another Canadian on here! :D
-Joe, Saskatchewan
The Vancouver market is at a huge high right now, but with the olympics coming up in 2010, it could very well get even bigger!
Regina and Saskatoon, Saskatchewan are in a boom, as Saskatchewan is starting to get used to it's fullest (future oil areas, potash, etc.), I'd say definitely research here.
Post: From Chicago to Flagstaff to Portland, OR to.. (you fill in)
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I think I recall reading "WE BUY HOUSES" in Dolf de Roos' "Real Estate Riches"!
Anyway, try Saskatoon or Regina, Saskatchewan, Canada! Better still, go for Vancouver, British Columbia, as its high but only getting higher! The olympics are there in 2 years, too, which will boost more economic drive!
Consider Canada! haha
Saskatchewans economy did absolutely nothing for 15 years straight...until three years ago.
Cities in the province are booming, especially Regina and Saskatoon, Regina very much worth mentioning as they are building a 1,000,000 sq. foot warehouse on the west side in the upcoming years. Though I did read today in the Leader Post that the average home price has dropped a few thousand, a reported "cooling off" of the real estate market.
Needless to say, many apartments are turning to condo's, and my friends apartment has more than trippled since he first resided there three years ago.
It's worth a looking in. The avg. home price went from $150,000 in 2007 - $249,000 in 2008 in Regina.
Thanks guys, the words of motivation are outstanding! Great tips too.
Luckily, though my town of 700 has very few business', my dad happens to own one, to which I have been working for. That is during the summer. During the school year, I work part time at a cafe'.
Here's my future (and very realistic) financial plan, and please keep in mind I start in the summer of 09 as a school trip will wipe me clean of cash before then. No need to worry though, as I have many years before grad. Here it is:
Summer 09 - $4000
Fall-Summer 09-10 - $2000
Summer 10 - $4000
Fall-Summer 10-11 - $2000
Summer - Winter 11 - $5000
As I know things come up that do suck up money, luckily, however, I will have a good fallback as every summer I get a full time summer job. By year '11 I am graduated, and will work full time - winter, and then I will embark on my own journey, with a stable amount of money to my name.
Hey guys, as with the "Hello from Canada" post, I myself am a newbie too, and I as well had to type in a fake zip code (12345) lol just to sign in this bloody thing.
Anyways, this is especially important as I have found no other Saskatchewan RE investors on the site! If anyone is from here, please feel free to post on this section. I'd love to connect with any other RE investors I can find, especially those who are in the same province and have done it here as well.
Thanks!