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Updated over 9 years ago,

User Stats

28
Posts
22
Votes
Kevin Labonte
  • Rental Property Investor
  • Québec, QC
22
Votes |
28
Posts

New to BP from Quebec City, Quebec, Canada

Kevin Labonte
  • Rental Property Investor
  • Québec, QC
Posted

I joined your site maybe 3 weeks ago and I've been thinking that I should introduce myself. I'm currently active military full time, 2 kids (2years old and a "new" baby within next 2 weeks). As everyone I have a busy schedule but always try to take a few minutes during the day to read articles on BP since I joined (it becomes addictive!)

I started Real Estate in 2007 when I purchased my 1st house requiring renovations for 80k in a suburb of Quebec City with absolutely no construction background. Flip while living in it, I learned along the way, 40k$ later. I went on 2 missions overseas which added more delays, to sell for 190k in 2011.

Moved in an almost turn key house and bought a 3plex in 2011 at the same time. Did a buy-and-hold, learned about being landlord with it's problems. Refinanced to buy a 4plex in april 2015. Currently in renovations, and will add an extra appartment in the basement looking forward to build it for handicapped person (There is currently a garage door that I can convert to entrance).

Goal is to leave military within 3 years and become a Home Inspector. I'll try to get as close as I can of 50 units with a 100$ in cashflow, within 10 years from now and live off my rental. I hope I'll be able to kick my investments a little faster soon as we don't have any deals under 100k like you guys seems to get easily in US from what I can read, and we don't have Exchange 1031 so if you don't hold on your properties, you pay taxes on the resale everytime (except if you sell the place your living in and you were holding it for a year or more) which slow me down a little bit.

Hope to talk with some of you soon!

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