All Forum Posts by: Daniel Casaca

@Greg

Thanks for you post. I like the way you set your points. I can plug in where I stand. I still have some capital from investing in stocks. So I am looking for a partner who has a contractor background. A friend of mine is, but right now we are trying to find a deal. The house prices here in victoria are high so I would still need to get bank finiancing. My second part question would be when you partner with someone or yourself is the JV partner are you expecting to buy the property without bank financing.

@vic l

Thanks for the post.
"One thing Greg didn't mention in his is other avenues of raising money" What avenue did you first try to raise money. How did you approach it. I also asume your using that fund to buy property and get a return from it. What kind of return are you expecting.

Thanks, Dan

Hi to everyone,

Seems like this post has gotten a lot of interest so lets keep it going. Since I poseted this topic... I have convinced a friend of mine who is a contractor to go into a deal with me. This house is on my street, there is no real-estate agent involved so I hope we could get this done.

I will tell you guys the number I am working with once I iron them out. Hopefully get some advice.

Seems like there is a lot of younger investors.

@op
Thanks for the reply,

As of right now there is a house on my street that the owner has moved into a nursing home. I have approached the family if they are willing to sell. And they are. The home was built in the 1960's and has not had any work done to it. I think at least just to make it a bit more modern and livable would cost easily $20-30 thousand. The initial price they gave is overvalued for the property and my number are much lower.

I still have not given them a counter, as I am trying to figure out a polite way to go about this so they don't run away.

Perhaps some tips on how not to offend the owner when I tell them that his numbers a way off.

@ Dave,
Thanks for the reply,
At 24 when you made your first property did you have capital already or did you finance it? If you financed it how much were you pocketing after expenses (you don't have to tell me numbers but maybe percentages). Also I am not sure where you are from, but around here 4plex can be expensive. And once you got the ball rolling with your investments how hard/easy was it to find other like minded investors.

@James

As for my goals, I want to get the most out of my money for long term, but If I can make a business/living out of this it would be great. Its a good plan to rehab properties to gain capital. How did you start, what was your first property like. I would like to try flipping houses but it scares me more ( as I am not a contractor) than just cashflowing/ renting properties.

Thanks for your reply

Hi There,

I am 27 years old and I want to continue in investing in real estate. I started investing in the stock market when I was about 17 and have done well. I made enough money to buy my first house one year ago.
I still don't trust where the market is going so I wanted to try out some more real estate investing. I have a lot of questions and some may seem general but I have to start somewhere. My stock investing "strategy" was buy and hold. I feel at my age it would the make the most sence for me in real estate. The single family houses in my area (which is victoria canada) are expensive compared to the rest of country and the U.S.
Ave. house price would be around $550,000. As of this moment it is a buyers market. I don't have enough money (I may not also want to put much down) to buy another house so I would have to finance it.

What is the best strategy for me?
Buy and hold, flip, commercial. Also to get into a deal with a partner.

Thanks,