All Forum Posts by: Justin Hui

@Devin Solberg

Thanks for the resources! I have been following other videos/podcasts but most are either discuss very basic concepts or to the other extreme. Not too much in between. And not as much Canadian content. Will definitely check those ones out.

@Kris H.

Thanks for the advice!

@Nicholas L.

Thanks for your advice. I haven't connected with a broker yet to determine exactly how much I can borrow but I do have reserves for those "emergency situation", other than my HELOC.

I was trying to determine which area I could purchase based on what I can afford, which areas would provide me with some cash flow and not too far away from where I am. That is why I thought of with a max purchase of $500k ( with $100k down to get ltv at 80%). However just based on what is available in MLS, doesn't seem like GTA or surrounding areas would fit my budget.

I’m assuming I would need to go further into other areas of Ontario (more than 2 hrs from Toronto) if I were to find something less costly but cash flowing at the same time.

Thanks again for your insights!

Hi All!

I am hoping to move forward with my career as a real estate investor. I am a real estate agent, so I do have an understanding about the residential resale and rental markets, etc. However real estate investing it a totally new concept to me.

I’ve read a few books and done quite of bit of research but I can’t decide if the strategy/method of investing I am thinking of would best work with my current situation.

I do own a principle residence with a mortgage + heloc portion (currently have $30k in it with no balance) and minimal credit items on history and have over 800 score. If I were to refi, I could possibly get $100k in equity that I could use (based on some calculators I used).

I was thinking of possibly starting with Buy and Hold then build up some equity to get another one. I am thinking to purchase a property in the range of $500k.

I haven’t met with a mortgage broker yet to confirm whether I would be able to qualify on my own or would need a partner for the purchase.

Just looking to get some feedback to see if I am on the right track. Any suggestions would be greatly appreciated!

Many Thanks!