Getting a head start by beginning early is the most effective way to build wealth, with investment taking precedence. I've learned from last year's experience that starting early allowed me to create a better life through early investments this time around.
I always consult a financial advisor before investing. During the pandemic, I used their strategies to minimise risks and maximize profits, generating around $3 million in three years with my advisor, Jenny Pamogas Canaya.
we own our own home and have one rental property.. recently mortgage is paid so we really dont want to get into a mortgage again but possibly will as we are interested in getting a 2nd rental property
Watched and liked, thanks! All 3 of my adult kids have rental properties in the same city where they live. Saves the cost of a property manager and still very passive. Rent is paid by etransfer every month. I agree with everything else you mentioned.
Thank you for the informative video! I liked and subscribed. My wish is to become a real state investor, I have equity in my first home and saved up down payment for my first rental property. Should I use my equity towards the second home or apply for a whole new mortgage with just the money I saved up for down payment and legal fees?
Sir investment is good when you are not relying only rental income only , if rental doesn't pay and property goes power of sale 2 thing goes . 1. Investor goes on legal Hassel 2. Property price increase 3. Less Home buyer want to go for power of sale which means less inventory in a market. If you can afford investment property then only go in canada because of laws.
thank you for the great contents Darren. It would be interesting to hear your take on buying a property for investment purpose solely while living on rent.
Ok, I live in Calgary...At the moment it is very expensive. I want to buy a rental 1.5hrs away in central Alberta. House prices in Calgary are out of my reach and a have a decent paying job here. I do not want to move but want to pay cash and then rent it out. Financing is not an option at the moment. Should I leap?
Where to invest in Canada? In which city or province? Which type of property.....I mean town house, condo...etc??? Also comparison of investing between Toronto and Surrey....or Toronto and Abbotsford.... My options for investment are Abbotsford, Surrey or Toronto Plz do reply i shall be thankful to u... :)
Darren.....love your videos. I'm working towards buying my first home and rent out part of it so that I can start building wealth. I've been watching your videos religiously, I think I've watched them all in less than two weeks. Huge fan! Any pointers for Calgary market?
@Lucas - RE Investor in Ontario lol honestly up until now I cared more about camping and road trips than actually paying attention to $. But now I want a different kind of adventure...so learning the ABCs of investing in Real estate. See where this goes.
Hi Blayne. Thanks for watching. In Calgary and any Alberta market buy for cash flow. The market won't stay flat or down forever but it's important the numbers work now. Hope that helps.
Hey there! Love your content. Your advice is absolutely fantastic! Is your free Masterclass still available? I ask as the link appears to be broken. Let me know, thanks!
Hey there! Love your content. Your advice is absolutely fantastic! Is your free Masterclass still available? I ask as the link appears to be broken. Let me know, thanks!
I superliked this video as it gives me the intended crux. I am putting across my question for your guidance if you may please. I have bought my first accidental rental property as a detach single family bungalow house in Aug 2021 in Laval (Quebec). I say accidental because it just happened due to the situation. I was not aware of the existence of the word real estate investor. But after buying this property and renting it out after basement renovation, I started to research on how can I expand myself. I am an IT contractor and now I am looking on to expand myself using this rental property but not able to exactly figure put my further strategy. Shall I use the equity of this rental house to buy my next property or shall I wait till I collect some money again to put down the down payment and other expanses for the next rental. I will be obliged with your guidance.
Hey Darren I was hoping you could help me, I’m currently trying to look into purchasing a 3 unit multi family but I would need to be approached for 350k plus at a minimum to be able to buy one. I have great credit and only debt is my car loan I have a alright paying job and I am planning to sell extra car so I can either put a down payment down or lower my debt. My question is how can I assure I get approved for more so I can make the move? My strategy is going for cash flow. Thank you even if you don’t answer my man you been so helpful as I’m learning soooo much from your videos ♥️
Hi Darren, is it better buying a rental property that already has all the rooms rented out or a less expensive home with no tenants? Also buying a home, is it getting a variable mortgage right now since it's lower or a fixed? This will be my first rental property! Will be putting down 20% downpayment around a local university. Thank you!
I am thinking of buying a fourplex with 3 tenants on a month to month lease and the other on a lease until march 2023 in Ontario. Can I end the leases with the month to month lease's to bring in new tenants and how much notice do I need to provide. Thanks
@@DarrenVoros true but this culture has played a heavy role in hurting your fellow Canadians. It's a hard truth. But investors don't like talking about this.
