Starting out in the Canadian market

[Carson Bolton]

Hi all, I am a university student looking to gain some advice on how to start out in the current Canadian market. Most of the advice I've gathered from my research has been US based and it seems to be different and somewhat easier to invest over there compared to here. On top of that, housing prices here are crazy and it seems next to impossible to break into the market where I am from. Any advice on what I should do to secure my first property and break into the market? Thanks

[Paul Sverdlin]

Welcome to real estate investing and to bigger pockets in particular!

The first step is to check whether you can get a mortgage at all being a student. Based on your income level and savings that can be used towards downpayment the banks will give you a ballpark estimate of the total mortgage you'd qualify for. If you don't qualify (being a student its not clear whether you have a job or a business), then the next step is to find someone to partner up on a deal. In case you do qualify - you'll know what that amount is and that will set the limit on what you can realistically purchase. Armed with that info you could start exploring strategies that fit that price range. House hacking would be my go-to approach.