All Forum Posts by: Alvin Gonzales

Thank you for everyone’s input! I will look into housing hacking a bit more to fully understand the process and how to get it done.

Thank you for the input. I think the only thing I dislike about house hacking is having to live with other people. Because I don’t want to live with anyone. So is it a bad idea to buy a property to live in for a short term, then use the equity built up to buy another property. Or not sell and rent the first property after building up some equity to buy the second property.

For example, purchasing a preconstruction condo or townhouse. Once it’s built in 2 years or so, I have already saved up for down payment by then and I’d just have to contribute to the mortgage and live there until enough equity is built up and reduce the mortgage interest by refinancing. once I’m ready to purchase a second property, I can rent out the first property to then move out to the second property.

Is this a bad plan?

Hello,

I would like to pick at anyone’s interest as to whether I should purchase my first primary residence or should I focus on my first rental property? I am a 25 year old from Toronto, Canada. I still live with my parents. I am currently a registered nurse working under contract. Which is the first priority?

I personally want to move out ASAP, but also my end goal is financial freedom.

Any thoughts would be greatly appreciate. 

@Stephanie P. I want to do the bare minimum in terms of buying and selling in all honesty. Just want to use money to make money. I want real estate investments to be another stream of income to accelerate my path to financial freedom. Do you have any advice for a 24 year old that is trying to figure out the path to financial freedom while not really being sure about their career path? I really don’t like working..

@Cody Neumann @Stephanie P. I’m from Canada, I’m not sure if the same terms are applied or just called something differently. I’m currently trying to save up a lot of money for a down prior to talking to any brokers or lenders. I’m not sure about renting out to be honest due to not wanting to deal with tenants and whatnot. I am more considering buying unbuilt homes and reselling once built and appreciated then repeat. Any thoughts on this strategy?

Thanks Clint! I’ll keep educating myself and exploring other sources of knowledge while I continue to save up. The answers are out there, I’m just not looking out for them.

I am a currently holding a temporary contract position as a Registered Nurse, as I would like to get out of the profession due to lack of passion for the job. Does anyone have any advice for my situation and how I can approach my next action

Could you explain further on what you mean?

Hello, can anyone shine light on the talks about possible looming housing crash? And it’s relevance to real estate investing for amateurs trying to join the game. Thanks.