All Forum Posts by: Joseph Costanza

Hello Bigger Pockets,

I am just starting out on my real estate investment journey and would just like to thank you all for the help thus far. The forums, blogs, private messages and other information has been an amazing educational experience.

In my search to find a reliable real estate agent in my area I was directed to a Mortgage Broker who spoke to me about a "Purchase + Improvements Mortgage Plan". I admit, I haven't spent much time looking into this type of plan, but it seemed too good to be turn. In my doubt I feel there is a catch that I am not seeing. Can anyone speak on this subject or direct me to an article / forum that will give me more information? 

I am not sure if the plan changes per area, but I am located within Toronto, ON, CA and am looking to invest in Hamilton, ON, CA.

@Ash Nahle & @Ming Lim 

If I could play the devil's advocate for a second. While I agree with your opinion that appreciation is a great wealth builder and should be considered as an important factor when making investment decisions, I would argue that there are a number of factors that should be considered first: economic growth, population growth, affordability etc. 

In no way am I an economist, or would ever claim to understand the true depth in being able to speak on these subjects, however I would estimate given the current economic climate that investing with appreciation as your primary source of growth would be a dangerous investment.

Perhaps this is a showcase of my own lack of experience, but I would rather invest in safer cash flowing assets until we see the economic correction everyone has been preaching about. 

I'm sure @Chad U. or @Jacob Perez may be able to substantiate my opinion. 

Hi Jan,

Thank you for your thoughts. I have noticed a few of break-even properties (after Capital Expenditures) that interested me within outer cities like Hamilton, Guelph and Barrie. My only concern is the amount of renovations. With it being my first property, I am hesitant to purchase a property that needs significant work due to my inexperience. Obviously this type of property would eat into any possible profit. My question at that point is:

Would it be more beneficial to purchase a property within the Toronto Downtown Core, even if I have to invest up to $100 extra every month? The appreciation in the core of the city is significantly more then the appreciation in the outer cities, and I would be able to pull my investment in the property quicker.  The issue I am conflicted with when using this strategy is the scalability. 

Hello Bigger Pockets

A little over a year ago I started my real estate investment journey. I started to consciously save/invest my money as I prepared myself to make my first investment in real estate. I studied, read, and listened to many book, podcasts, forum etc. I focused a great deal of my attention in understanding the math behind real estate investing. The last year or so I've felt very confident in understanding the processes however now that I am financially prepared to make my first investment I find myself confused and lost. I find it hard to find Positive Cashflow deals in my area and was hoping some of you in the Bigger Pockets community may be able to give me some advice where to look.

I live in Vaughan, Ontario, Canada and have been advised to look within Toronto, Ontario for investments, however I am finding the Greater Toronto Areas are more feasible and more aligned with the information I have learnt from my studies. Thoughts?