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Updated over 5 years ago on . Most recent reply
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New member from Ottawa re-post for fellow Canadians
Hey everyone,
My name is David, I've been listening to the BiggerPockets Podcast for several months now and was happy to see that there seems to be a passionate Canadian community here. I'm 25 years old, living in Ottawa and recently graduated university with a BComm in accounting. I started university a little late (followed a hockey dream) but am happy to have a full time job starting this month. My plan is to try and excel in my new career and begin building up multiple streams of income through real estate investing. While I'm quite young and not worried about "early retirement", financial independence is definitely the end goal and the freedom it provides.
Lacking much in funds, my summer has been spent reading and learning as much as I can. Some of the pillar books specific to real estate I've read recently are:
- "Rich Dad, Poor Dad" - Robert T. Kiyosaki
- "Real Estate Investing in Canada: Creating Wealth with the ACRE System" - Don R. Campbell
- "What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures" - Frank Gallinelli
- "The Book on Rental Property Investing" - Brandon Turner
Pretty much every BiggerPocket Podcast in the last 6 months...
Also since Brandon Turner and David Greene are big on business books, a few that really opened my mind over the last year or two are:
- "So Good They Can't Ignore You" - Cal Newport
- "The Millionaire Next Door" - William D. Danko
- "The Undoing Project" - Michael Lewis
Overall, I frequently find the numbers talked about for some of the American markets unrealistic here in Ottawa, even relative to the surrounding smaller towns. But then again, I'm sure the good deals are out there waiting to be made. My hope here is to connect with others of the same mindset, learn all I can, and provide as much value as possible moving forward.
Here's to connecting with you all!
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Welcome @David Weckworth! Good to connect with you. I am 25 as well with a portfolio of properties in Windsor. I grew up in Windsor but moved to Guelph for school, and when I got into real estate investing I ended up moving back to Windsor because the prices and cash flow were so attractive. There are markets like this where you can get similar returns to what they discuss about the states (the 1% rule is no problem in Windsor). It just depends whether you are comfortable investing from a distance, but I have many clients who do so with success. Great book list, thanks for sharing!
Cheers! :)