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All Forum Posts by: Jacob G.

Jacob G. has started 3 posts and replied 27 times.

Post: Millennials aren't buying homes - good or bad?

Jacob G.Posted
  • Rental Property Investor
  • Posts 27
  • Votes 19
Originally posted by @Pat L.:

I had one begging me for work, $15/hr to pay his rent & auto lease. He was an unemployed Masters in History & was sharing a home with 4 guys. He had a leased Corolla so I asked why he needed so much work as a leased Corolla runs $199/month & his rent was $250/month.

Then he tells me they rolled the financing for the BMW he had into the Corolla lease so his lease payments were over $500/month. He should have taken a minor in finance or at least simple addition.

 This is way too common! Trading in car for a newer one and rolling the loan over. Exponential interest adds to the next vehicle. YES it looks like the person can afford it, but the debt to income ratio gets soooo bad! A small slap on life gets them crumbling or seeking for help. 

Post: Truro, Nova Scotia Meet Up

Jacob G.Posted
  • Rental Property Investor
  • Posts 27
  • Votes 19

Oh wow this is great. Thanks for sharing! I will book this off and be there. 

Sharing it to my friends too :)

Cheers!

Post: Truro, Nova Scotia Meet Up

Jacob G.Posted
  • Rental Property Investor
  • Posts 27
  • Votes 19

Hi all,

To all the real estate geeks out there! We will have our 4th Bigger Pockets meetup on January 20, 2019

around 1pm in Truro. Place TBD.

It is a casual "meet and greet and go with the flow discussion".

Great way to pick each other's brains, make friends and to expand your network! :)

@Jeremy Zwicker @Jake Wing @Anthony Sartor @rinujan kananesan

- Jacob Geronimo

Post: Would you renew a lease on a disrespectful tenant?

Jacob G.Posted
  • Rental Property Investor
  • Posts 27
  • Votes 19

It's not worth your mental health if it is bothering you that much.

However, on the brighter side, you can learn so much from her demands/requests and how to balance tasks/management on which one to delegate/outsource versus to do it yourself.

I always account this on operating cost. As long as she is paying on time, I should have money to manage a tenant that have high volume of messages/requests/demands. It becomes a problem when they stop paying.

Post: 2019 REI Goals - 20 Doors by 2020!!!

Jacob G.Posted
  • Rental Property Investor
  • Posts 27
  • Votes 19
Originally posted by @Kris Bucci:

@Jacob G. what was your favourite book you devoured? I’m currently working on the 4-hour work week.  Good so far... 

 4 Hour workweek was one of the best i have read this year! I think my top favourites I read this year were:

Deep work - Cal Newport, Zero to One - Peter Thiel, High Performance Habits - Brandon Burchard, and Renos to Riches - Ian Szabo.

For 2019 my priorty reads are: Raising Private Capital by Matt Faircloth and Real Estate Joint Ventures by Don Campbell :) :)

Post: Newbie from Truro Nova Scotia

Jacob G.Posted
  • Rental Property Investor
  • Posts 27
  • Votes 19

Hello Robert,

Welcome to BP!! I am from Truro, NS as well. :)

We have a few members here and we started a meetup every month. By far we had three meetups. Our next one is on January 6, 2019. It is very casual and we pretty much just talk about everything, motivate each other and pick each others brains. (We were thinking of setting a specific agenda per meetup, but there's so much to talk about in real estate so we just go with the flow of the discussion) So yes, you should come! *I dont think we have set a time yet, but I can update you* ;)

Jacob

Post: 2019 REI Goals - 20 Doors by 2020!!!

Jacob G.Posted
  • Rental Property Investor
  • Posts 27
  • Votes 19

It was a wild 2018! I am humbled to be on the right track as planned!

My goals for 2019 are:

1. Expand my network, establish relationships, and help friends/family start out on real estate investing. **More meetups and create a master mind group for health and wealth** 

2. Devour more books/podcasts on real estate, business, and economy.

3. Acquire a property around August. (Possibly an SFR that I can BRRR).

Happy New Year to all! 

Post: American book and buying real estate in canada.

Jacob G.Posted
  • Rental Property Investor
  • Posts 27
  • Votes 19

They are very relevant to Canada. 

Books by Brandon Turner, Gary Keller, Kiyosaki and Don Campbell are great start!

Post: 25 units at 24 years old - What I've learned

Jacob G.Posted
  • Rental Property Investor
  • Posts 27
  • Votes 19

Congrats on your success! I totally agree with everything you said. 

Acquisition for equity with massive potential to pull up cash flow is a great deal on its own. 

It took me some time to find my comfort zone in terms of how much to leverage, but I think I find my sweet spot. I used some LOC on my last deal and it has been working great.

Post: Canadian Bigger Pockets Members?

Jacob G.Posted
  • Rental Property Investor
  • Posts 27
  • Votes 19

Hi from the east coast (Truro, NS)

- I have actually bookmarked on my chrome "Real Estate in Canada" so I can instantly get to this subforum ;)