Hi everyone, this is my first post and I am nervous yet excited to start learning. I'm young in my (mid-20s), and I know that if I want to jump into this career path, it's better to do it now. I'm ambitious, a fast learner and a slight workaholic.
I'm looking into having investment property in Toronto and surrounding areas, but I have several hurdles/challenges.
1. I have no idea where to start, where to look for the right people (good investments, the right brokers etc), and where to find resources.
2. In light of some personal unforseen costs, what money I had saved needed to be used. I have little to no savings right now. I have started to save but it is minimal. I know that money makes money so I'm working hard to save up so that I can have some "cushion" when I plan to purchase property.
3. I have never purchased property in my life. My current annual income (combined with spouse) is just under $100k. We have two dependents so things are stretched thin. But I am ready to make this a priority.
I feel like I am ready to get out of the rat race but no idea which direction to go. I'm entirely aware that no one want to share secrets or tricks of the trade etc but it would be really helpful if anyone could spare some advice.
I am open to becoming a landlord (and I am realistic about the pros/cons of becoming one), purchasing property for resale or other ventures of similar nature. I'm not looking to flip houses or becoming an RE agent etc.
I'm looking into having investment property in Toronto and surrounding areas, but I have several hurdles/challenges.
1. I have no idea where to start, where to look for the right people (good investments, the right brokers etc), and where to find resources.
2. In light of some personal unforseen costs, what money I had saved needed to be used. I have little to no savings right now. I have started to save but it is minimal. I know that money makes money so I'm working hard to save up so that I can have some "cushion" when I plan to purchase property.
3. I have never purchased property in my life. My current annual income (combined with spouse) is just under $100k. We have two dependents so things are stretched thin. But I am ready to make this a priority.
I feel like I am ready to get out of the rat race but no idea which direction to go. I'm entirely aware that no one want to share secrets or tricks of the trade etc but it would be really helpful if anyone could spare some advice.
I am open to becoming a landlord (and I am realistic about the pros/cons of becoming one), purchasing property for resale or other ventures of similar nature. I'm not looking to flip houses or becoming an RE agent etc.