All Forum Posts by: Edison Reis

it is a town house and is already rented. Got rented our prior getting the keys.

The plan (for now) is to buy and hold for about 10-12 years and then sell it / them (We are 49 and don't wanna be in the 8 - 5 after that) or ..... Keep them and use as an additional retirement income. 

Hi BP'ers

Today we just got the keys for our first rental property.  Thanks BP and you guys for answering our questions and providing  some tips and/or guidance  in the last 4 months.

Around Xmas we started thinking about the idea of investing in real estate and 3 months later (after lots of webinars,  podcasts, books and viewings) we got our first deal.

We are still following our plan of 3 properties within 5 years ! (following the worksheets lol)

Have a great weekend 

Edison & Carla

Greetings fellow investors. 

My wife is planning to take the course to become a realtor mainly to handle our own investment interests but we aren't sure if she can represent herself as a realtor (I. e. When buying or selling our own  properties) wihout being formally registered and part of a brokerage firm.

Basically she wants to become a casual or freelancer realtor but we aren't sure if this is possible. 

Thanks in advance 

Edison

Greetings fellow landlords

I am happy to inform that we just bought our first property and now I have been searching for an App to help us to manage it. 

So far the best one seems to be "Property Buddy" which allow us to manage income and espenses while having the ability to send rent invoices,  receipt , late reminders to the tenants very easily. It also generates about 10 different financial reports that can be exported to excel.

I haven't bought the app (12 dollars) so do you have another suggestion? (Please keep in mind we only started hence don't need a full bore database)

Thanks in advance

Edison 

Welcome to BP !

You will find lots of books and podcasts that will assist you a lot. You will need to your part as far as researching but lots of great folks in here.

Edison 

@Jett Rao they are new in the country. The husband got a job offer (they are in Toronto now) and even offering an extra months in rent as a deposit isn't working.

Comes down to lack of Canadian experience (credit history) 

They have been paying of time but it doesn't seem to help.

Dear all

I have a couple (friends) trying to find a 1 bed apartment or bachelor in Calgary but are having issues to rent as newcomers.

Anymore (Landlords) in the #Calgary area ?

Thanks in advance 

Edison 

welcome @Bryce Penner ! Kelowna fellow investor here ! 

Thanks for sharing @Mike Kohan ! As you said despite the headaches and lost money it was a " MBA in real estate " that probably helped you to avoid bigger issues in a large scale strategy. (I.e: multi family properties which is your niche) 

I have read lots of forums and watched lots of podcasts that enlightened me a lot. From basic tenants screening, property evaluation, negoticiation to rent collection. I am not saying that I won't make newbie mistakes however I can tell you that the likelihood went down from 50% to 5% kinda deal.

The beauty of @BiggerPockets is the ability to learn and share as we go along as fellow investors. The market is big enough for the 1% hence why not share ideas, successes, failures and real life experiences. 

Note: What I mean about the 1% is ..... I am not talking about financial wealth but rather the very small amount of people that have the courage to invest, willingness to learn, research and take risks while most (99%) won't. 

Hi Milke,

There's no wrong strategy in real estate investment. (Buy & hold, Brrrr, flips, etc)

I think has more to do with whatever you feel comfortable.

I am currently focusing on buy and hold (rentals) rather the other options because:

A) I have a full time job and are often travelling. (Hence hard to manage a flip)

B) i don't have enough money upfront for flips. 

If wasn't for these points I would split my focus between both strategies but at this point buying and renting it out seems to be the easier way to move forward.

Does that make sense ?

Oh ...why did you buy a property in Chicago?