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Updated about 9 years ago on . Most recent reply

User Stats

36
Posts
25
Votes
Randy Molland
  • Rental Property Investor
  • Victoria, British Columbia
25
Votes |
36
Posts

New Member from Victoria BC Canada.

Randy Molland
  • Rental Property Investor
  • Victoria, British Columbia
Posted

Hello my name is Randy,
About me:
I am 24 years old, I have been a journeyman electrician for 2 years now, i am never at home as i am always working side jobs, or exploring this beautiful city. I recently started reading and studying real estate earlier last summer, I attended the 3 day class from Keyspire and learned a great amount of knowledge and found it very interesting. I have listened to the first 30 episodes of the BP podcasts, read the beginners guide, read all the rich dad books, a number of other business and invest books, as well as have met with 4 REI in town and discussed how they are making it happen. I have now started furthering my experience by waking up at 4am and doing the "life SAVERS"(bp podcast 157) before work and found a huge boost in motivation and enthusiasm.

My Experience:
I bought my first house last summer, 3/2 townhouse brand new. I was just recently offered a private deal for a 3/2 upstairs, 2/1 downstair investment property. I put in a purchase agreement, and am currently just waiting for financing to qualify. The purchase price is $475,000 with 2 sets of washer/drying, stove, dishwasher, fridge. I am in the mids of screening renters my townhouse and am seeking $300 cash on cash return, (accounting for minimal maintenance because its so new). I plan on moving into the basement suite of the new property and renting out the top suite to cover 75% of mortgage. 

My Goals:
I want to buy a third property by the end of 2016, and then hopefully move on to multiplex homes in 2017. My goal is by the age of 30 to be living rent free in one of my units, with enough residual income that i can do my electrical work as a "fun" job, instead of relying on it to support me. The reason why i am pursuing this career is because my father passed up his own property management company to make sure he never missed any sports games us kids were playing. I want to establish myself early enough that i dont have to pass up an opportunity and can still spend that much time with my family.

Meet ups:
I am looking to meet with people on vancouver island (or chat online with people from anywhere) that are in like minded, very motivated,positive attitude, hard working and interested in pushing each other to complete our goals! I am yet to find a group in victoria but would love to hear from anyone who has or is attending any meet ups or classes!

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