Hello from your neighbor up north

[David F]

Hey Everyone,

My name is David and I'm 30 years old, from Montreal, Canada.

I've been researching REI for the past few weeks and yesterday stumbled upon BiggerPockets. I have been blown away by what I've read here. There are many helpful experts that are humble and willing to share their knowledge and opinions. Lots to take in. I really hope to be able to contribute as time goes on as I learn more.

I come from an Internet Marketing / Web Publisher background and have been self-employed for about 6 years now. Business on that front has cooled down but I've been conservative with my spending and have managed to save cash. I currently have those savings primarily invested in the stock market. I've always been interested REI but now that my business is cooling off, it has motivated me to make moves.

My goals: Being involved in a business that is pretty much virtual, I am really into the idea of moving into a business that is tangible and concrete, like RE. Financially, my goal is to generate rental income, starting with one property, and if it goes well, to build up to the point that it can be my main source of income.

From the research I've done, the returns in the Montreal SFR rental market just don't compare to what I've seen in Florida, so that is where I've been been focusing the most.

Thanks for having me here and I hope to learn as well as give back in whatever ways I can.

David

[Nathan Emmert]

Whew, finally finished the spreadsheet. What a monster :)

So using the assumptions... 75% LTV on $100,000 homes @ 4.5% fixed for 30 years generating $1,500 a month in rent...

On month 361, you would own 4 houses, have 606 mortgages, and generate $233,740 a month in free cash flow. Around year 17 you start buying a house a month. At the end you're buying 9 houses a month (well, mortgaging).

I like playing with numbers :)