Buy - Upgrade - Sell - Questions?

[MCPP]

Hello all,



Newbie here.



I want to educate myself on the ins & outs of buying, upgrading, and selling a house.



I'm looking for books, and internet sites where where I can get started. That would include everything from finance options to selecting the house, what to look for, home inspections, and resale.



I currently work outside the country but will be moving back to Nanaimo in the next year or so. I have a house there now, but my intention is to buy and upgrade 2 - 3 houses per year initially.



I am thinking of a particular area of the city, lower middle class (older homes), where I can put a basement suite in, and do regular upgrades in the house and then sell it. Based on what I see as the perfect storm ahead (high oil costs, inflation, debt) I think there will be a demand for income generating properties for live in"owners" with modest incomes.



Can anyone point me in the right direction?



Many thanks

 

[Sherilynn]

We lived overseas when we decided to start investing. So I read everything I could get my hands on.

• Don R. Campbell has a few great books and I highly recommend them. "Real Estate Investing in Canada" is one of my favourites.
• I also loved "Grow Rich with the Property Cycle" by Kieran Trass; but
  Don has since written a book with Kieran Trass that seems to be a Canadian
  version of that one ("Secrets of the Canadian Real Estate Cycle..."). It's next on my reading list.
• Dolf de Roos' "Building Wealth Through Investment Property"
  Douglas Gray's "Making Money in Real Estate: The Canadian Guide"
  Kiyosaki's entire series
  and many more.

In my opinion, the more you read and research, the more prepared you will be to hit the ground running when you return to Canada.



It may also interest you to know that you can join REIN while you are overseas and have access to their research on economics, the real estate market, etc. You may want to consider this now (in case you want to invest before your return) or when your move is a few months away.

 

[DaveL]

You may also like "From Renos to Riches: The Canadian Real Estate Investor's Guide to Practical and Profitable Renovations" from REIN Mbr Ian Szabo.

 

[MCPP]

Thank you both for the information.



I have the books on order.





Mark