All Forum Posts by: AJ Van der Velden

@Samuel Sedore

That would be wonderful. By any chance is that through REICO? I just found out about them. But the cities near by me are Trenton and Belliville Ontario

Good day Everyone.

I live in a small area of Canada and quite simply don't have a lot of mentors available in my area. I realize mentor ship works both ways so generally you want to have something to give to your mentor for all the advice they provide you with.

So my question is would it be smart to seek mentors in areas you are not near? I realize markets and everything would be completely different so the advice may not work in those aspects but would it be good to have "general advice" or strategies with multi family investing or just try to find someone in your local area the smart way of doing it?

Thanks for any input,

lol, yes your right Roy.

Thanks Samuel. As for my Strategy I got a 20/20 prepayment mortgage. I am using an Inflation Hedge strategy (simulates interest rates rising so when I renew I will be used to paying the higher rate except interest has not gone up so all extra goes on principal). 

Basically Year 1 I increase my monthly payment by an extra $50 a month, year 2 is $100 a month extra, year 3 is $150 extra a month directly against the principal every year. I have now maxed out my 20% monthly increase. This year 4 I will only be able to raise by $20 more the max that out. 

Also every year I like to scrape a little extra money. So I try to put a lump sum payment of $1000 a year at least. Year 1 was 1k, year 2 was 2k and this year will be a couple hundred. But by increasing the monthly payments I think nothing about it. The lender just takes the money every month

Good day Everyone.

I live in Canada. Currently I have a mortgage for my principal residence. I am aggressively paying down my principal mortgage so I can have enough equity to purchase a multi family investment home (2-4 units). 3 Years into my mortgage my 25 year amortization period is down to 16.2 years left.

I am currently in a job that can move me around the country so any property I buy I would need a property maintenance team member.