First of all I apologize as I am sure you are all tired of reading these types of threads... I did try and use the search function and manually read through as much of the 2009 content as I could read the last few weeks. So I did not post this to waste your time in anyway.
First off, I am 28 so a little bit young... But I have spent the last 10 years of my life as a property manager, both for Transglobe Management and later the family business. So I know my way around tenants and the majority of calculations for determining a buildings expenses, income etc...
I have a bit of money (under $50k) and a good bit of home equity and I am looking to venture out from the family business and get something of my own rather then always being the "landlords son" and all the assumptions that go with the title.. But I am only 28 and so I am concerned lenders may not take me seriously.
I am considering joining REIN but I have had some bad experiences with memberships before, Rich Dad was an obvious scam and reclub.ca didn`t do it for me. Now REIN looks to have a lot of happy members and is very active but how good is the membership side of the program vs the public side... Do the experts really answer your questions? And is the ACRE system really something a 28 year old can work with?
Based on what I know thus far, I believe the area I live and work in, Oakville, is to expensive for a newbie investor. Right now your pretty lucky to get a 5% cap rate, and nothing cashflows. So I believe I will have to buy in small towns around Ontario and have it managed by someone else, I would be interested in hearing any feedback on how well that sort of strategy has worked for others.
Thank you for your time!!
First off, I am 28 so a little bit young... But I have spent the last 10 years of my life as a property manager, both for Transglobe Management and later the family business. So I know my way around tenants and the majority of calculations for determining a buildings expenses, income etc...
I have a bit of money (under $50k) and a good bit of home equity and I am looking to venture out from the family business and get something of my own rather then always being the "landlords son" and all the assumptions that go with the title.. But I am only 28 and so I am concerned lenders may not take me seriously.
I am considering joining REIN but I have had some bad experiences with memberships before, Rich Dad was an obvious scam and reclub.ca didn`t do it for me. Now REIN looks to have a lot of happy members and is very active but how good is the membership side of the program vs the public side... Do the experts really answer your questions? And is the ACRE system really something a 28 year old can work with?
Based on what I know thus far, I believe the area I live and work in, Oakville, is to expensive for a newbie investor. Right now your pretty lucky to get a 5% cap rate, and nothing cashflows. So I believe I will have to buy in small towns around Ontario and have it managed by someone else, I would be interested in hearing any feedback on how well that sort of strategy has worked for others.
Thank you for your time!!