Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
New Member Introductions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago,

User Stats

31
Posts
0
Votes
Dylan NA
  • Calgary, Alberta
0
Votes |
31
Posts

New to Real Estate Investing, Need Help

Dylan NA
  • Calgary, Alberta
Posted

Hows it going everyone, first off I would like to say that I am completely new to real estate investing and I have come here for help. 
Some basic things about me:

- I am 22 years old

- I am a 4th year electrician in the oilfield and am 3 months away from being a fully pledged journeyman. I am not doing this as a fulltime job though because I hate it, so I will be doing a trade in painting. I will make 20 dollars an hour starting off as a painter. I also will be moving to a bigger city for more opportunities since I live in a small town.

- I currently have 150,000 saved up from working

Question 1:  How should I go about buying my first property?

I live in Alberta so a 5 bedroom house goes for at least 275,000-350,000 and it will be a 5 bedroom, 3 bathroom. I also looked and half duplexes go for 250,000-275,00, these will have 4 bedroom and 2 bathroom. 2 bedroom and 1 bathroom on top and 2 bedroom and 1 bathroom on bottom I believe.

I have 150,000 saved up so I was thinking of buying 3 houses for 275,000 these would have 5 bedrooms in it.  Or I was thinking of buying 3 half duplexes.

I also will not be managing any of these properties I want to go strictly to a property manager and have them manage them for me, yes I know they will take around 8-10% of the gross income, but I am okay with that as long as I have to do no work and don't have to look after anything. The reason isn't because I am lazy but because I want to work as well and have more positive cash flow, would be extremely hard to manage it and work 80-100 hours every weeks. So ya what should I buy half duplexes or single family home? thank you

Another question I have is this: If I buy a 5bedroom house, would the property manager rent each room out to different people or would they simply just charge a family say 1,500 or 2,000 to live in it a month? this is what I am concerned about, because if they rent each room out, they could charge at least 700-800 dollars because that's why the going rate is, but if they wont charge each room out for say privacy reason or safety reasons, than I would be better going with the half duplexes at 250,000 because than I could have 2 people rent the top and 2 rent the bottom and charge 1200 dollars for the 2 people on the top and 1200 dollars for the 2 people on the bottom.

Just curiousm I know each property manager is different, but what do you think would be the best thing to buy a half a duplex or a single family home?

And how much cash flow do you guys honestly think I could make a month from each. Thank you for reading this, I know I am a complete beginner to real estate investing but this has been my goal for the past 2 years and I finally want to do it, thank you so much everyone, please point me in the right direction:)

Loading replies...