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Updated about 18 hours ago,
Beginner looking to BRRRR in Canada
Hello everyone, I am a Canadian from the East coast and am looking for everyone's thoughts. I am a 24 year old who's employed in the CAF and looking to getting into real estate, more specifically BRRRR.
After looking online for quite some time I've noticed how high Canadian real estate is and I wonder if it is even worth getting into. Are there any Canadians who have started out recently despite these crazy prices? Is it lucrative enough in Canada or are we doomed?
It feels very difficult to raise enough capital to get into the market. I currently have around 100k tied up in sticks right now which I would prefer to leave in and just continue to save with the plan of getting a place in the next few years, I would get a second job to raise the funds. I've looked into mobile/manufactured homes as an option but with lot rent it seems like it may not be worth it. Not to mention how these properties don't appreciate the same as a regular home.
what are your thoughts?