All Forum Posts by: Leon Doucette

Just getting into real estate investing looking to purchase first property. My question is the property I'm looking at was assessed in 2014 for $104,400 and today it's assessed at $49,900. It's an old property and in need of some repair. Sure this has something to do with this. What other factors cause this? Any help greatly appreciated.

Just starting out in real estate. Looking at potential properties for flips. I've spent most of my career in the construction field as a construction electrician. The price of building materials in the last year has increased as much as 300% in some cases. Would like to hear from some other real estate investors that are doing flips and how the material cost it's affecting their profits. What are you doing to recover those costs in the end? With this going on it is more important to find good deals. Just finished work on a flip for someone else. They got a really good deal on a house because the homeowner decided to gut the house and do the work himself. He got in over his head with the construction. He sold the gutted house well below market value. In this case the deal was good enough to cover the cost of the rehab. These deals are getting harder to find

Thanks Janelle nice to know there are others on BP in our area. Still a few building blocks to put in place before we are ready to purchase our first property. Everyday brings us closer to that goal. We are very interested to hear others like us and their story. Financal freedom is a huge achievement and the story needs to be shared. Thanks for reaching out and let's keep in touch.

@Chris Baxter Thanks man excited and glad to be here

After reading Rich Dad Poor Dad I began to educate myself on investing in real estate. I listen to audiobooks, podcast, webinars, and generally talk to people in the business. What I have learned over the last two months and I'm still learning is both phenomenal and exciting. I am an electrician by trade it have been in Construction for over 20 years. Been doing house flips as an electrician in that time for others. Started doing consulting in regards to the construction and general project management on flips by others. At this point my wife and I are arranging our finances to be able to take the jump into either flipping or acquiring rental units.

We live in Nova Scotia Canada and would like to reach out to other potential investors or just others looking to get into this business.