I got into investing in real estate about 5 years ago, when I lived in Mississauga, Ontario. At the time I was living in a 3 bedroom apartment rental building and renting out rooms to, two of my friends to subsidize my living costs. I eventually realized that I was able to use my RRSP account that I had been building through work to buy a similar sized condominium and I could rent out the remaining 2 bedrooms and live with minimal expenses.

This is what got me started as being a landlord, I began to realize the power of building equity in a home and learned a lot of the basics of tax write offs. After about 3 years of living there I had met my wife and it was time to move on from the party house that this condominum had become. My friends and I all went our seperate ways, then we decided to rent it for just enough to cover the costs of the mortgage and expenses after pulling out some equity to buy our principal residence with.

The Toronto area was very pricey to live in, my wife and I looked for work outside of the city eventually sold our principal residence and moved to London, Ontario. When we arrived we realized that we could actually buy a home in this city, rent it out and make more than our expenses, and have some extra money to make our pockets a little bigger.

After about 3 months of research and working on a plan we are currently about to close on a deal to buy a duplex in London Ontario. I never realized the real potential of investing in real estate untill I left the Toronto area. Im thankful to have found bigger pockets and the youtube channels of some local investors that have helped me figure out what is going on in this city.

Thanks to people like Matt McKeever and Mike Rosehart and the Bigger Pockets Community for sharing so much valuable information, I hope to one day be able to pay it forward.

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New Investor from London Ontario

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