Family of 4 Looking to Maximize Our Buyer Potential/ROI!

[Charlie Xang]

Hey Everyone!

Long time reader, first time poster and would like to first off thank everyone for the guidance and input shared on here, it's honestly been great.

My family and I all work in the energy sector and are hoping to replicate my parents success in real estate, mainly buy and holds but most recently pre-construction (townhomes). I'll try to keep it short and sweet.

Me (Mid/Late 20's) - 120-140K/after tax - Own 1 condo DT Toronto renting at (-500) cashflow - no debt

Sister (Early 20's) - 120-140K/after tax - Looking to purchase first home - no debt

Parents (Late 40s/Early 50s) - 320-340K/after tax - Own 1 Townhome in Collingwood (Appraised 200K higher than when they bought 2 years ago) and recently moved into their new townhouse near Wasaga Beach (already gone up about 100K).

We're all looking to continue investing, we really like Collingwood/surrounding area and the way the markets going but we're flexible as we're usually on the road about 80% of the time anyways so living arrangements aren't of most importance.

My general idea is to take advantage of low interest rates, find developers (Townhomes, Possibly Condos) and use our numbers/purchasing power to negotiate better deals/first priority, while others have recommended either pooling our funds, possible incorporation or to simply hold off until this covid mess clears up.

Would love to hear what you guys think, If there's any other info you need or questions you have please reach out, looking forward to your feedback!

Cheers.