hmmm nothing limiting or holding me back as I probably put in about 5 - 6 months work a year and spend a great deal of time with my wife and kids, making a 6 figure income. I am not discounting the value of a mentor, if you manage to find one, or indeed, some excellent contributors to this...

Well, I wish I could have had one. I guess my thoughts on it are as follows. Who really wants to help a guy starting out unless they are one of the following; 1) Family 2) A pretty decent friend 3) Someone willing to pay cash I guess I am insulated here in a relactively small community...

1) Educate youself before you dive into the business. Read appropriate books. Be inspired, and make sure you really do not like your regular work. If you like your day job, then why quit? Is there anyone out there that has actually used mentors to get started, wthout paying a great deal of...

Two quotes I like: Better to have tried and failed than to have never tried at all..... some education, planning and preparation is still warranted. Better to die on your feet than live on your knees..... Dramatic perhaps! But in a ligther sense - be your own boss.

Hey Thomas, I was just being facetious not factual in the use of the 'asset' term. No hard feelings intended.... I did use a smiley.

Income is not an asset ! Land is not income. Sure is an asset when you go to borrow money :)

In my relatively short investing career, I'd say the key thing for me has been that ... ....the money is made when you buy the property, not when you sell it. With my limited entry resources, I simply had to be stingy and look for bargain basement deals (estate sales, knock on doors...

I could have added this to my previous post, but I already edited that one 20 times. Outside the enjoyment I get from working and searching for the deals in real estate, is knowing that I am building a retirement portfolio that will pay me a good salary indefinitely, when/if I hang up my hammer...

I never quit my job. I just got laid off 2 years ago. Nothing to do with the boom/bust, just the company not doing well with a pretty niche product. I have always hated selling anyway. Since I "quit", I bought another crappy old house and fixed it up so it looks beautiful. So nice that...

Sorry! By delinquent, I rather meant rundown / dilapidated properties. I see what you mean by tenants though. Yes, I understand my income is subject to all my expenses. I was trying to establish how teh 'inventory for resale' is treated in that context. Finally, what if I purchased...

Thanks Thomas. Does this mean my 'income' is treated as my profit less any land acquisition or delinquent properties I buy to renovate? Tony

I understand that if I build a new home with the sole purpose of reselling it then CRA will determine that I am in the business of building and selling homes and treat my profit as business income. My question is this. If I use some of the aforementioned profit to go and purchase a piece...

Shows you just how inflated prices are were I live. You can't buy a 1500 sq ft home here for under $300K. Something like we are seeing here would be over a million.

O.K think I have t figured out as I just saw the forum titles atop each page, so I can avgate back to the general headings. Still, so used to seeing these things separated by boxes, it looks all one thing together (blog style). Perhaps some like that, but it is different to the norms on most...

I find the response time slower to be honest, and having trouble just finding forum posts that (in the old format) might interest me simply by their title? It all looks more like a blog now than a forum, but perhaps I am doing something wrong. Is the forum just one big list of topic entries...

When I see a 4 bedroom home 10 minutes from Disney World selling for $100K or a very nice 3 bedroom condo ($135K with $10K Per annum net income) in a gated resort just a hop away from the worlds largest tourist attraction, and I cannot buy the same properties in my town selling for less than...

QUOTE 4/year requires cash .. or loads of work .. where is the bottleneck ? Thanks for all the great replies - guys! I have about 200-275K Of capital at my disposal. So some form of JV might be what I should be looking for. I do have som friends with capital too. Certainly if I had in mind...