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Updated over 5 years ago, 04/27/2019

User Stats

94
Posts
12
Votes
Cole Black
  • Rental Property Investor
  • Markdale Ontario
12
Votes |
94
Posts

Starting out in Real Estate

Cole Black
  • Rental Property Investor
  • Markdale Ontario
Posted

Hello everyone at bigger pockets,

I am a business owner from Ontario looking to invest in some assets that will generate some good cash flow.  I am only 19 and am wondering where to start. I was planning on incorporating my future real estate company to protect myself and have the tax benefits. I have learned lots from my first year in business and my biggest lesson is that education is key. I have no knowledge of real estate but I would love to learn. I would like to know some good books or effective ways of educating yourself without going to the gurus. I have a goal to listen to all of the bigger pockets podcast by the end of the year. 

My Goal is to own enough real estate in three years that generates enough monthly income to pay for all of my monthly expenses. I have very few liabilities and think that this goal is reasonable to reach with a good education. My plan to reach this goal is to get a mortgage/loan for the property and rent or lease it out. The property would then pay for the loan with a few bucks on the side to pay for expenses and the rest would be saved to have a down payment on another property. Eventually, I want to create an empire with a big enough cash flow that I can be financially free. I know most average investors will say diversify in all sorts of things however I want to start out in educating my self on one investment portal such as real estate. I feel as tho this approach will take much of the risk out and focusing will allow me to build this empire more efficiently.

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