All Forum Posts by: Drew Bursey

@Joseph Hartley I thought you did (based on your post). If you're looking for a job, I would recommend looking to get your feet wet in some sort of sales. If you're able to get a company that teaches you to sell, that will help you for sure. 

What is a sales job?

I'm not sure exactly what that will look like for you. If you're actively looking for a job, I would try to find a job that will teach you something. If you just got a new job, I would suggest that you stay with your current job. You're going to be learning in any new job.

Never stop learning!

@David Cam

Hey David,

I think you're doing it right. 
I'm really new to investing (don't have a property yet). I read "The book on property investing" by Brandon Turner an in it he says to make adds fool proof so that applicants aren't calling you to ask "how much is rent" or "how many bedrooms" etc. I have a few friends that are investors and they all say the same thing

MAKE SURE YOU SCREEN YOUR TENANTS!!!!!!!

Especially in Ontario because it is really hard to get rid of bad tenants.

From what I've read (and what you seem to be doing) is to prescreen the vast majority without an interview then only invite the best of the best to see the property. From what I've heard Ontario is one of the most tenant friendly laws making it really hard to get rid of a bad tenant.

@Joseph Hartley

That is a good question, a lot of people think they should get a job to be secure and don't learn anything from their job. We should always be learning.

Like the other BP members said there are great books available. Real estate investing specific books I would recommend include "the book on real estate investing" and "investing with no (or low) money down" by Brandon Turner and "long distance investing" by David Greene and any other book on the BP bookstore.

If you haven't read "Rich Dad Poor Dad" by Robert Kiyosaki I would highly recommend it.

In the book he talks about not taking a job for money but for the skills you will learn.

Robert says "your mind is your greatest asset" 

Read, read BP forums, attend webinars, watch youtube videos and listen to podcasts about real estate and you will learn a lot!

An example of this would be to find a job in sales to learn how to be a better salesperson if you wanted to start your own business. By taking a sales job, that company would train you to be a better communicator/salesperson. It's much easier to be taught to be a salesperson than try and fail.

That being said, the things we learn from most is our mistakes. In order to grow and improve, you will make mistakes. When you make mistakes, it's extremely important to reflect to improve yourself so that you don't do the same mistake again.

Best of luck!

@Shrey A.

Hey Shrey,

Thanks for the resources on your original post. I knew about realtor.ca but not the other sites.

I'm very knew to investing (about a month). I don't have very much money so the big cities that you mentioned are out of question for.

I'm looking in smaller cities/towns to invest in where the housing market isn't crazy expensive.

Gatineau, Quebec for example has way cheaper houses than Ottawa. I know many people that live in Quebec and work in Ottawa as it is much cheaper. I would recommend looking for places outside the major cities (at least Ottawa as right now it is crazy expensive, I'm not sure about the other cities you mentioned) and look for cities that are still growing but the demand is not super high.

If you're set on one of those cities perhaps brrrr investing is the way to go. But that also complicate things as you wouldn't be able to get a conventional loan.

It seems like you'll be investing long-distance.

If you haven't read "Long-Distance Real Estate Investing" by David Greene, I would highly recommend it.

He talks about how to find a great team (real estate agent, property manager, lender and contractor). He goes into detail on how to properly screen potential team members to find the best ones.

All the best!

@Andre Lewis

Hey Andre,

I'm in a similar position. I'm living in Australia but wanting to buy in Canada.

If you haven't already read "Long-Distance Real Estate Investing" by David Greene, I would highly recommend it.

I'm pretty much a complete beginner at investing (so the whole book is incredible) but the most important lessons I've learned is to find a great team (real estate agent, property manager, contractor and lender).

It goes into detail on how to properly and efficiently find, interview and pick the best members of your team. It might take a long time (especially if you're 12+ hours ahead of them) but it's better to be sure you have a good team because a bad team can cost you thousands

Hello,

I'm looking to be preapproved for a mortgage. Do you any excellent mortgage brokers in the Ottawa/Ontario area that you have worked with in the past?

Thanks! 

I'm so sorry for being late...

something came up but i'm here now.

I'm really sorry for the inconvenience 

@Whitney Hutten Yes they are if the numbers work (I haven't got all the numbers yet). I found the property without a real estate agent and I'm in the process of finding one to see how much the ARV can be and finding quotes. The more I research, the more I think it's not possible...
I think I might have to find another property.

@Whitney Hutten

Thanks Whitney for the advice! Hopefully that happens to the property I'm looking at 🤞

Unfortunately I don't have the money for a down payment right now...

I'm planning on using a private lender (my parents) and then pay them back by refinancing after a year

@Michael Kiley

Thanks for the advice. I'll look around some more (and find an agent).

Cheers!