All Forum Posts by: Erik Pilon

I’ve basically lived my whole life in Ottawa/Gatineau and then went off to live in a tax free country to hoard some savings. I’ve been registered as a non-resident for the past 5 years.

I’m estimating I’ll probably stay here for another 5 years before going back. But I’d like to come back with already a few doors under my belt, kickstarting a career switch “nest”.

Which kind of difficulty am I looking at to start with the first property from a distance, then to eventually have around 30 by the time I get back?

All I know is that a property manager is a must, but home inspection before purchasing and rehabbing with videos/images from a contractor I have no idea where to start.

25% withholding tax is a killer but an accountant could help apply for tax reduction, etc...

What kind of team would a first time investor from distance start with?

Hi all, First time poster and seriously thinking into dipping in real estate investing. Some background: My wife and I (her 26 years old, me 30 years old) are Canadians currently working in Dubai. After 1 year of working we have enough saved to start thinking about which investing will we do for early retirement purposes (I don't want to leave money in the bank, maybe buy all into gold in case the economy crashes? Maybe some in stock instead? Buy a franchise? Invest in start-up companies? Real estate?) I realized that we currently have enough saved for a 30% down payment on a USD 180,000 property (but will buy in Canada, so CDN 230,000). This looks great, I can maybe buy 1 property per year this way! But on these forums here, I see people having 10+ properties or even 60+ ! That to me is crazy and imagine them as multi-millionaire, but often they are not.... Plus I'm sure they have not worked 20 years at their full-time jobs to get this amount of properties, have they? From my calculations: minus taxes, minus emergency repair fund, minus property managers and etc, I should be getting around $300 per month per rental property. From this calculation, this means I would need to own 40+ properties so that the monthly income equals that of my wife and I's combined salaries for financial freedom! Is this normal or am I missing something? Thanks for clarifying!