All Forum Posts by: Charles Burkholder

Hi everyone, I am a young 21 yr old real estate investor from Bancroft ontario with great aspirations and goals for real estate. I currently own a duplex that I bought in Feb, 2014. I have my eye on another one but don`t have the required down payment so in 2015 I`ll reconsider it when I have the required amount. I am wanting to get into flipping houses. The problem with this is that where I live it`s mainly a tourist town and the real estate is flooded with houses and that in my mind are overpriced. What would be your pro advice on where to start. I was really inspired by Tyler Bond`s story in a recent BP blogpost which pushed me to look into flipping and wholesaling houses. I`m all ears for advice and mentoring! 

Hello Kyle, I was in similar shoes as you. I am 20 years old and bought my first duplex 6 months ago. At my current job I make around 30k per yr and had 18k saved up for my first property. I borrowed the rest of the required amount to make a 20% down payment from my (wealthy) uncle. Looking back I could have put less down if I would have lived in it but the circumstances hardly allowed that (both units were filled when I bought it) Plus I don't have to pay mortgage insurance this way. It has been a positive experience for me with great tenants who gave me post dated checks for all of 2014 and have zero complaints. My advice is read all the books you can on the subject and ask lots of questions on these forums and read lots of them as well. Tons of info on here! All the best and good luck

Thank-you CaseyPuppy, I am excited about the future!

Yes Steven N. I am building my reserves up. I have reserve funds automatically transfered to a reserve account every month  And yes I have done lot's self educating. Quite a bit of online reading, BP blog, forums and articles etc and have read a bunch of books on property management.

I agree, I have driven past lots to check up on it and communicate with the tenants frequently but have never been called out for service or emergency work. 

The reason I never considered living in the property when I bought it was because it came with tenants already. Looking back I could have done some things differently during the purchase to make the next purchase easier. But live and learn....

Hello everyone. I am Charles Burkholder from Ontario Canada. I am a new, eager 20 yr old investor and I was inspired to pursue real estate after speaking with Larry Conner, owner of The Connor Group, a $1.3 billion dollar real estate investment firm. I get the Bigger Pockets emails sent direct to my phone and read them in my spare time. I also download and listen to the BP podcasts whenever I get a chance. In February of this year, I bought my first duplex for $147K with 20% down. The numbers are great and I was able to get excellent tenants in it. I haven't been to the property in months. I am wondering what all your experts advice would be for me to do next. I don't have enough personal cash to purchase another rental property and I want to pursue and build my portfolio into a full time and high-value business. What would you advise my next step to be? Thanks.

Hello guys, this is my first post. I just opened an account a few minutes ago. I am 20 years old and I am not the average kid. I have ambitious goals of rental real estate investing. I have a private pilot's license and studying for my commercial pilots license, building my own airplane and already own a duplex with a cap rate of 13%. I bought it with 20% down and with tenants in it already so I haven't put a nickle down on the mortgage out of my own pocket. And I don't come from a wealthy family. My parent's make less then $35000 yr. I have worked hard and saved hard. I am looking for my next property and read blogs posts or articles of how somebody gets started in investing and and keep on buying one property a year etc. My question is how they do that. Do they re-finance their existing properties to get the down payment amount?