All Forum Posts by: Lyuyuan Zhao

So after reading all the responses above, is it correct for me to conclude by saying that: There is NOT a Canadian law that is equivalent to the 1031 exchange in the US, and therefore Canadian real estate investor (investing in Canada) do not have the privilege to defer taxes in the way that Americans do?

Hi all,

I'm 19 years old and I have never had a credit card in my life, and I don't feel the need to get one any time soon. However, I want to eventually qualify for loans so I can start investing. Though no credit card means perfect debt to income ratio, it also means no credit history at all. Would this be a good thing? Or is it better to have a good credit history than none whatsoever?

Should I go get a credit card and start build a good credit history now?

Thank you very much

Hi everyone,

I am 19 years old and a freshman at UBC (Vancouver). I recently became very passionate about real estate, and decide to do some investing this summer.

I currently rent a small basement room for $800/month. However, I just found another apartment room only costs 560/month. The room is closer to the campus and right in the university's commercial centre (so better location and maybe better condition). I looked at the place and believe that I can sublet it for $700, creating a  $40 cash flow with no money down (so technically infinite returns). This prospect, though small, does excite me, since it can be my first baby step in real estate.

In Brandon Turner's book about no money down real estate investing, this strategy is not covered. Why not? I did a quick research and it seems many people are doing it and there isn't anything wrong ethically or legally, so is there something wrong in subletting for profits that I'm missing?

Thank you very much and good luck on your journey too!

Lyuyuan 

I have just joined BiggerPockets. 

I found out about the site after reading books by Brandon Turner. I loved the books, but I honestly did not expect much from the forum. But I am now shocked by how well the website is managed. The visual is stunning and there are SO MUCH content!

Thanks for providing this service for us!