Acquiring Properties - Best Approach Based on My Income

[Conor Stephenson]

Hi Everyone,

I'm looking to start to invest in rental properties (ideally small multi-family, potentially value-add). My question is around how folks are acquiring so many doors in just a few years. I'm 28, I make about $200k/yr, and have about $100k in liquid savings right now after purchasing my personal home two years ago.

This seems to me like maybe if I'm lucky I can buy a property every ~3 years (depending on price, but expecting a minimum downpayment of $100k as an example).

Many of the books I've read reference acquiring OPM and structuring deals so it makes sense to the investors as they get to be hands-off and I do all the leg work. This is interesting to me because I think I bring strong financial management and sales skills to the table. The problem is these books are typically in reference to US markets.

Is it possible to do this OPM in Canada? Are there any good books/references I can check out?

Thanks!

[Jaron Walling]

@Conor Stephenson I'd also consider when those people you speak were acquiring properties. I don't know many experienced investors buying a lot of deals right now. It's tough to find value add right now. When you do it's destroyed with over asking offers. That's been my experience for last 12 months and I've make 6 offers, on/off market. What I see is people parking money in lower priced markets, first time buyers in bidding wars, and low profit flips. I'm not discouraging anyone from buying but an expectation of reality can be hopefully. There's deals to be found out there it just takes time. 

OPM is a great option when you find the right deal. Find a DEAL and the money will find you. A lot of investors are lending money out and making a return with residential, commercial development, or HM. It's an easier way to make a return in this market!