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Updated over 3 years ago,
How to get started with real estate investing?
Hey everyone, I am 25 and totally new to real estate investing. I am looking to purchase my first property in Ontario to set me on the right track moving forward in real estate. I have been doing a lot of reading, research, listening to podcasts and YouTube to gather as much as I can to ensure I know what I am doing before getting my feet wet.
I feel like I have an idea of what I need to do, which is:
1. Speak to the Bank and find out how much I can get pre-approved for
2. Speak with a real estate agent in the are I am looking to purchase in. (Which is Windsor primarily or Sudbury as a second location)
3. Establish some team, of a real estate agent, a contractor, a lawyer, a accountant, property manager (or Company).
4. Then finalize the deal and proceed to doing a renovation if needed, then finding someone to rent it and setting up a lease with them.
I believe these are the steps I should be following in that order more or less.
Any feedback to would be truly appreciated acknowledging I am on the right path or anything that I missed and would help me moving forward.
Thank you.