New From Canada

[Jaymes Croken]

Hello Everyone,

My name is Jaymes, and I am not a property owner but am looking to start my career in real estate investing. I am a paramedic of 7 years experience and I work largely on remote industrial projects that leaves me with a large amount of free time for about half of each month.

I am looking at purchasing my first property soon, and am starting to put my "team" together, hopefully by starting with a good real estate agent in my local area of Calgary that can help guide me. 

I have been doing a lot of thinking and debating a couple of different processes to start off with for the current economy and how expensive prices are for real estate in Canada. I am learning more about low and no money down strategies, but for the time being I think I may do one of two things, unless of course I can find a better path.

1) Purchase a small unit in the $125-150k range with a 5 year amortization, leveraging the equity through a LOC to purchase a number of other properties, most likely similar small units.

or 2) Purchase a unit in the same price range with a 25 or 30 year amortization, saving extra money and fulfilling the owner occupancy requirement and turning it into a cashflowing rental, while finding a new unit to repeat the process with ad nauseam.

Regardless of what path I choose, I am here to learn for long term growth and share what I can on subjects in which I am knowledgeable

Thanks for reading and let me know what you think