Getting started

[JSB]

Hi everybody,

I`m looking at taking the plunge with my first property - it`s a multi-unit property in the GTA.

I`ve been reading a lot of comments here and would love to hear any bits of wisdom from the seasoned veterans out there about the first property.

Looking back, what would you have done differently? Is there anything special I need to be looking for that I wouldn`t have come across in normal buying and selling of personal properties?

Thanks and wish me luck!

 

[DianneDachyshyn]

Get involved with REIN, if you haven`t already, and keep learning. Here`s a good quote about the importance of knowledge:

“The most important factor in this equation (referring to wealth building) is knowledge. When it comes to managing your finances and creating wealth, knowledge really is power. We are all knowledgeable in certain areas, but it is the accumulation and compilation of knowledge within a specific realm or subject that makes us an expert and thus gives us the ability to take action and accomplish certain tasks. In other words, the more knowledge you acquire about a particular subject, the more powerful you become in exercising that knowledge. For example, auto mechanics who have studied books and hands-on learning understand automobiles and how to repair them. Their knowledge about automobiles enables them to repair automobiles and gives them the power to profit from it.”

Good luck with your property!

 

[JSB]

QUOTE (DianneDachyshyn @ Jul 27 2008, 10:09 AM) Get involved with REIN, if you haven`t already, and keep learning. Here`s a good quote about the importance of knowledge:


Thanks - I actually have known about REIN for a couple years, and in selecting properties I`ve used a lot of tips from Don Campbell`s books. I just recently rembered this site and came on to check it out - it`s awesome! I`m hoping that a lot of peoples` experiences will help augment what I`ve already learned.

 

[GarthChapman]

Here's a great post on getting started, by Thomas Beyer: http://myreinspace.com/public_forums/General_Discussion/61-4391-How_to_get_started_.html

 

[Thomas Beyer]

QUOTE (JSB @ Jul 27 2008, 08:04 AM) Hi everybody,

I`m looking at taking the plunge with my first property - it`s a multi-unit property in the GTA.

I`ve been reading a lot of comments here and would love to hear any bits of wisdom from the seasoned veterans out there about the first property.

Looking back, what would you have done differently? Is there anything special I need to be looking for that I wouldn`t have come across in normal buying and selling of personal properties?

Thanks and wish me luck!
you need three things: time, expertise and money.

Multis usually need more money .. and have higher up or downside .. so more expertise is suggested !

read this REIN post on how to get started: http://myreinspace.com/public_forums/General_Discussion/61-4391-How_to_get_started_.html

Good luck !

drop me a private e-mail with more specific questions if you want !

 

[JSB]

QUOTE (thomasbeyer2000 @ Jul 28 2008, 12:26 AM) you need three things: time, expertise and money.

Multis usually need more money .. and have higher up or downside .. so more expertise is suggested !

read this REIN post on how to get started: http://myreinspace.com/public_forums/General_Discussion/61-4391-How_to_get_started_.html

Good luck !

drop me a private e-mail with more specific questions if you want !

Thanks Tom - I read that post and it was great, if only to give me some comfort that I`m on the right track (or at least not on the wrong one!)