Looking for advices

[truongcal]

Hello All, I bought my first primary residential property last summer in Edmonton after I read Don's best selling book. Considering myself as a tenant. My career took a new route and I have to move to Calgary this summer. This is when I found out that I can buy a second property with 5% down payment. I rent out the one in Edmonton with positive cashflow of $150.

I am looking to buy more positive cashflow properties but I am not sure how to get the %20 down payment. Please advice!

Thanks everyone on this forum for your feedback.

 

[RedlineBrett]

There is no easy solution to come up with the 70-100k neccessary for a down payment on a solid rental property in Calgary. If it were easy everyone would do it!



I would reccomend you strongly consider REIN membership. The yearly fees are a very cheap education when taken into context with other expenses in real estate.



The REIN system has lots of resources to point you in the right direction, but for down payment equity you basically have two options



1. Your own money. So save up that down payment, pull capital out of other investments etc.

2. Other people's money. You need to make a convincing case and offer a share in your real estate investments to family / friends / business associates in order to get them to partner with you on your investments.



I have clients in Calgary that have acheived great success in both paths. If you know you won't have the money yourself then you need to get smart and you need to be ready to work hard to draw others to your business.



Good luck!

 

[truongcal]

Thanks for your input! I have been thinking of joining REIN next year.

 

[Anonymous]

Yes after joining the REIN membership, we can get the number of best answers by experienced people.