Your Questions About Investing In Real Estate

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Charles asks…

Should I start investing in real estate?

I think I’m kind of young to start. I’m 24. I’m looking to start investing in some real estate. The problem is, i don’t have a lot of money. Any suggestions?

Justin answers:

Even in an early age it is a great way to have your own investment which you can use in the future. One of the best ways you can do if you don’t have enough money is to get a loan. Another is you can also pay it in installment just pay it first with down payment. Check out the source for a video that can help you.It discusses more information and some tips about real estate investment.

George asks…

How can I get started in real estate investing without much money?

I am 24 years old, I graduated from college last year. I work as a contractor right now with some guys. I really want to be a real estate investor. I want to start with small rental properties, but all the money my wife and I make pretty much pays the bills and we don’t have much left over. Also, I never know how much I will make each week because work is unpredictable, so I know a conventional loan is pretty much out of the picture. Any advice anybody?

Justin answers:

Patience and Perseverance.
BUILD your credit rating, SAVE for down payment. You need 3.5-5% down for most purchases. 0% down are a very BAD idea and gone now. If you buy property as investment, you need MUCH higher down payment and pay a higher rate. So start with a twoflat that you will live in, build up equity and buy another property later.

Michael asks…

How can I get into real estate investing without any money?

Seriously. I know it can be done somehow. I can’t really afford to take huge risks with my money right now and I would love to be a real estate investor. Please help (and scammers don’t even bother posting!!). Thanks in advance!

Justin answers:

You need to use “assignable purchase option” contracts and flip/assign the property to a retail buyer. You can control property this way for as little as 1 dollar.

You could also bird dog for short sales or under valued property. You could use other people’s money to purchase and flip. The list is long, but I would start out with assignable contracts to test your motivation in this business.

Hell, you can get your real estate license and find people who want to buy and sell homes. If you think about it, a real estate investor is just an unlicensed real estate agent (with a brain!).

Good luck

Daniel asks…

Has anyone done any real estate investing in Ontario?

How do you find real estate investing in Ontario versus the deals you can do in the U.S.? I’m noticing big differences…
WE live in Ontario.
I’ve read so many (U.S.) books on real estate investing and they make it sound so easy. My husband and I want to be very careful going forthward….

Justin answers:

I have had an investment property in Ontario and own property in the US, but not really for investment purposes. Real estate isn’t as depressed in ON as the US – is that what you meant?

Forget about reading those US books. If I wanted to get in the landlord business again I would buy a house in a university town and rent rooms to students. Yes they are kind of hard on a place, but their parents are usually good for the money. I’d have a cleaning service come in once a month to keep the little buggers sort of in shape and I’d show up once a month or so (with notice) to say hello, see if they have any problems and distribute cookies. Take care of your students and they will fill vacancies for you and you will have no advertising costs.

Forget Toronto or Ottawa, go for the smaller cities. You need at least 4 bedrooms, check zoning regulations.

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