Advice for starting out

[kfort]

QUOTE (bizaro86 @ Dec 10 2010, 03:57 PM) Interesting how the group gets on tangents sometimes, and the real estate gets left behind!

Michael

appologies for getting off target. I am of the age that many of my friends have gone through this in the last few years and manyof them we misinformed through the general public. One of my friends lost a house over it even though for the two years they were in a relationship his girlfriend lived in a different province... It got ugly. CYA is the best policy.

 

[Thomas Beyer]

QUOTE (bizaro86 @ Dec 10 2010, 02:57 PM) Interesting how the group gets on tangents sometimes, and the real estate gets left behind!

Michael
well .. life and real estate are usually related .. i.e. screw up one (or hit a ball out of the park) and the other gets affected !!

 

[Victor Pidkowich]

We plan on getting married within a year

and having someone else as committed is wonderful! Tested new watrs for our relationship but has brought us closer.


I dont want to steal from the origianl posters question, which was it wise to figure out his current rental situation or to just plunge immediately into invest real estate. As I stated earlier... It is my opinion from my experience as well as others, to get personal problems solved before rossing the line into the business of real estate, or run the risk of crrying those problems with you into the realm of investment real estate.

SOrry about the typos - need new keyboard and this forum editor does not allow me to back track - hopefullt the new forum will solv this.

And thank you Michael, your words have added much more confidence to me and my soon to be wife`s decision

QUOTE (bizaro86 @ Dec 10 2010, 09:29 AM) I`m not sure I agree with the comments regarding youth. I bought a house in Edmonton when I was twenty, and it was like adding rocket fuel to my finances, since Edmonton had a good couple of years after that. I was certainly responsible enough to manage a house, and it worked out great. I don`t see any reason why this poster couldn`t handle it as well.

Actually, buying that house was probably the 2nd best decision I`ve made in the last ten years, with the best one being getting married (that same year) to my wife. Having someone deeply commited to go through life together with is a huge blessing, so I`d agree with Thomas`s point about marriage and cohabitation.

Regards,

Michael

PS Those who sign their posts "regards" need to be careful, as the `t` and `g` are very close together on the keyboard, so I just about had a les polite sign off

 

[StartingInBC]

Thomas makes an excellent point about protecting your assets if or when a relationship ends. The law is a bit archaic and pretty ridiculous in these supposed times of equality. But it will definitely be something I will keep in mind as I move forward in life. Luckily for me, the mixing of finances and living arrangements is a concern I won`t have to deal with for a while

Thanks everyone for your input. It looks like im starting to settle on a strategy. My friend is hypothetically on board to be either a roommate or a renter. I`ve narrowed down the areas, and now I just need to examine neighbourhoods, price points and check out a few more books at the library.

Rob, thanks for the advice. I`ll need a bit of time to get all my ducks in a row, but expect a call in the new year to discuss experiences and options.