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Updated over 5 years ago on . Most recent reply
Student in Edmonton AB who is looking to learn.
Hello, as my post suggests I am a student who just moved into the University of Alberta. I have been interested in real-estate investing for quite some time now, through high school and now that I am moved out I want to finally take a start down the path that is investing by taking action. Since I can only guarantee that I will be in Edmonton for the first year of schooling I am thinking about learning how to whole sale properties. Most importantly I am here to learn, and would like to connect with other people who can help me learn. If that is people who wholesale properties, people who renovate properties, or people that are connected to the big web of people out there who know a lot. I know that this post is all over the place and quite random but in a summary I want to make connections and learn about the local market of Edmonton and what it takes to participate in it. Thank you for reading this first post of mine and I can't wait to hear back from everyone.
Most Popular Reply
@Kade Bowie That is awesome that you are aware of the power of real estate so young! First of all I would definitely start going to local real estate groups. @Mark Mendoza I was also at Collaborate yesterday.
If you are serious about getting educated in investing in real estate, not just working in real estate (wholesaling is not investing, but it is a great way to make some cash, which you can then invest), then I'd suggest REIN's annual event next weekend. It'll teach you what properties investors are looking for and how to find those deals, so you can successfully wholesale the right properties to investors. If you want to meet a boat load of other investors, that's also the place. https://rein.swoogo.com/acre-edmonton
Another great group is Edmonton Real Estate Investors Association, and Mogul Mastermind. I know Keyspire is coming into town too soon, but be aware, the 2hr event is a sales pitch for their pretty expensive program. Though I do know people who have been successful with it.
When I hear that you're in University, I immediately think - student rentals! Buy a house with 5% down, maybe get parents to help qualify if you don't have an income, and then you live in the house and rent out the other rooms to friends/students. A great way to get your first investment property, live rent free, and learn about landlording!
Hey there Kade, I am also new and want to get into the taking action phase of investing. I listen to a podcast a day, and now I am trying to answer one question a day. My advice would be to listen to a podcast a day or maybe 30 min of an audio book a day. I listen to mine on my commute.
My biggest hurdles right now - EVERYONE is a naysayer! My dad, co workers, my friends... Get away from negative people. That's the biggest advice I have for anyone starting out. Second is I don't have a ton of money to put down on a property. Find a creative way to finance the deal! My example for this is, I'm a veteran so my credit card interest rates are currently capped at 4%. I am going to cash advance as many as I need to get the down payment money for a high cash flow deal that will cover all the debt leveraged to make the deal work! Where there's a will, there's a way.
I'd love to follow your journey and hopefully our paths will cross some day! Feel free to connect!
Hi Kade, a warm welcome to the world of real estate investing. I attended my first conference in Edmonton today in fact, which was held by Collaborate Real Estate based in Calgary and are expanding in Edmonton very soon. I highly recommend checking them out. A great way to network yourself with like minded investors.
@Christopher Lane Thank you so much for the advice. Setting a goal of a podcast a day would definitely help me so I think I will follow your advice and do that. Thank you so much!
@Mark Mendoza Networking is definitely an important part of investing and I agree that I should check out that group. Thank you so much for the information and I will be sure to look for investing groups / meet-ups in the Edmonton area to participate in.
@Kade Bowie That is awesome that you are aware of the power of real estate so young! First of all I would definitely start going to local real estate groups. @Mark Mendoza I was also at Collaborate yesterday.
If you are serious about getting educated in investing in real estate, not just working in real estate (wholesaling is not investing, but it is a great way to make some cash, which you can then invest), then I'd suggest REIN's annual event next weekend. It'll teach you what properties investors are looking for and how to find those deals, so you can successfully wholesale the right properties to investors. If you want to meet a boat load of other investors, that's also the place. https://rein.swoogo.com/acre-edmonton
Another great group is Edmonton Real Estate Investors Association, and Mogul Mastermind. I know Keyspire is coming into town too soon, but be aware, the 2hr event is a sales pitch for their pretty expensive program. Though I do know people who have been successful with it.
When I hear that you're in University, I immediately think - student rentals! Buy a house with 5% down, maybe get parents to help qualify if you don't have an income, and then you live in the house and rent out the other rooms to friends/students. A great way to get your first investment property, live rent free, and learn about landlording!