New Investor in Winnipeg, Manitoba, Canada - Chibuzor

[Chibuzor Alumba]

Hi everyone, my name is Chibuzor and I new to BiggerPockets.

I have been interested in Real Estate for the past year, and have spent the past few weeks educating myself here on BiggerPockets.

I am raring to get started in purchasing Real Estate and I currently have three potential paths forward (please feel free to correct my ideas or suggest a more efficient method of getting started in the real estate business)

1. Buy houses for rental purposes, and make sure you only accept houses that give you a 12% or greater ROI, OR

2. (Since I recently purchased a house and have no money), I should analyze deals, find great deals, and BRRR them or look for private money in purchasing those deals, turn them into rentals, and split the rental income, OR

3. (Wholesaling) Find deals by sending out mailers, figure out what house owners need for their properties and what you are willing to pay, agree on an acceptable price, put the house under contract, and find a suitable buyer for the property

As mentioned above, please feel free to correct my ideas or suggest a more efficient method of getting started in the real estate business

I look forward to talking to some of the awesome people that use this forum. All the BiggerPocket podcast guests have spoken very highly of this forum.

Nice to meet you all.

[Diana M.]

Hello Chibuzor,

Im new to real estate too and have no experience yet, so my opinion might not be the best, But I imagine, If I were you, in addition to other strategy available, i personally would start by renting out any rooms in my house to generate extra income. 

There was an interesting podcast too at bp about short term rentals using Rbnb.

Success to you Chibuzor!