Hi everyone - I am hoping to get your advice on how to best approach my current real estate goal.
Background info: I am 32 and do not own any property (investment nor primary residence). I met with a mortgage broker and have been assessed as qualifying for 400k mortgage. I have a stable income, 81k gross salary. I also have a decent savings/down payment of 200k (in great part from an injury settlement I recently received) and my parents are receptive to assisting me with up to an additional 100k (either towards my primary residence or towards a joint investment property with me or a portion towards both). I currently pay room/board in Richmond and work in downtown Vancouver. My immediate real estate goal is to acquire three properties within the next five years - with a buy and hold strategy.
As a novice in the arena, I am soaking up the REIN threads and reading up on all things real estate. I am learning a lot, but in all honesty, it is a lot to take in without the benefit of an experienced sounding board to provide advice or answer my questions.
This is where I'm hoping you can come in! I would appreciate your advice/insight on getting going on my investment goals - in terms of how to best utilize my funds and where to put down my funds (i.e.: in province/out of province) to achieve my real estate goals over the next five years.
Would really appreciate your experience and thoughts/strategy to get me going!
J.
Background info: I am 32 and do not own any property (investment nor primary residence). I met with a mortgage broker and have been assessed as qualifying for 400k mortgage. I have a stable income, 81k gross salary. I also have a decent savings/down payment of 200k (in great part from an injury settlement I recently received) and my parents are receptive to assisting me with up to an additional 100k (either towards my primary residence or towards a joint investment property with me or a portion towards both). I currently pay room/board in Richmond and work in downtown Vancouver. My immediate real estate goal is to acquire three properties within the next five years - with a buy and hold strategy.
As a novice in the arena, I am soaking up the REIN threads and reading up on all things real estate. I am learning a lot, but in all honesty, it is a lot to take in without the benefit of an experienced sounding board to provide advice or answer my questions.
This is where I'm hoping you can come in! I would appreciate your advice/insight on getting going on my investment goals - in terms of how to best utilize my funds and where to put down my funds (i.e.: in province/out of province) to achieve my real estate goals over the next five years.
Would really appreciate your experience and thoughts/strategy to get me going!
J.