All Forum Posts by: Account Closed

On April 29 and May 6, I closed on my first two rental properties. One property has been rented since May 15 and the other property is being renovated. I bought both properties with $0 of my own money. The 20% down payments came from my HELOC. Once both properties are rented, my monthly cash flow will be just over $500, which I will save for future maintenance / repairs. It's been a scary time, but so glad that I took the leap into real estate investment.

@Roy N. The syndicated mortgages that I've been looking into are definitely for soft costs.  Perhaps more risk than I am willing to take on.

@Paul MacInnis  I hope you'll update us on your broker's advice.

@Jay Raught  Notes are not something that I've considered at this point, again because I'm so new to real estate investing.

@Roy N., I'm so new to real estate investing that I can't write even small mortgages on my own at this point.  Perhaps that is something that I will be comfortable doing down the road, but right now it's way out of my comfort zone.  You've given me something to consider for the future.  I will start educating myself on how to find and write mortgages.

@Roy N. I appreciate your response.  Thanks

I am currently in the process of closing on my first rental property.  Now that I have taken that first step, I want to look at other options for diversifying my investments.  I've started looking into syndicated mortgages, attracted by their potentially high returns.  But I can't decide if there are truly good syndicated mortgage opportunities out there, or if they are just too risky to consider.  Greybrook and ProFunds Mortgages (both operating in Ontario, Canada) are two companies that I've been looking into for syndicated mortgages.  Has anyone had experience with syndicated mortgages?

I just joined the FB group.  Thanks, Jenny, for starting this group.  I'm a newbie investor, in the process of buying my first rental property.  Looking forward to learning and hopefully contributing too.