How Do I Real Estate Investing In Canada

[Dalton Beauregard]

Forgive my lack of knowledge and my naivety but I'm a beginner.

My friend and I are both 19 and we wants to start flipping properties and investing into rental properties. We both have around 12k in debt combined, from osap loans after dropping out. Our plan was to pay off our loans as fast as we can, start a corporation to mitigate risk and start a joint savings account where we do 50/50 contributions to build up cash to invest. 

One of issues I'm having is figuring out how to register a corporation before you have any property that produce income. We have the goal to focus on flipping single family homes until we build enough cash to buy large building with 4+ units. 

I will also be getting my real estate license to save on commissions and we'll outsource the contracting and other work.

Our goal is to purchase a property by the end on 2018 under a corporation and to have no personal debt since we prefer to have no debt under our names. We're aiming for around a 20% downpayment since we're so young and credit takes time to build.

We're hoping to do the Cardone approach to investing with multifamily and buying 4-12 units at a time instead of buying single homes. We aim to make 100k a year in income by 30 years of age. 

We make a combined $50,000 a year, is this a realistic goal? Our incomes will go up over time and my job is based on commissions so it has some upward potential but not much.