All Forum Posts by: Meagan Peters

Hey guys,

I’m a recent college graduate and have a degree in Graphic Design, but my priority right now is acquiring my first house-hack/rental property before the end of 2022. I am living at home right now but will be moving to Guelph, Ontario at the end of the summer (which is where I will be buying).

I truly love Graphic Design, but for the long term I see it more as a hobby/something I will do part-time and would really like real estate to my focus. I currently have 45k in savings, no debt, and my monthly expenses will be roughly $1600 once I move (I will be renting a room until I purchase my property). My question is, should I

• Get a full-time job as a Graphic Designer and just work on real estate stuff on evenings and weekends
• Get a part-time job as a Graphic designer so I can allocate more time towards real estate (networking/searching for properties, etc.)
• Find a way to use my Graphic Design skills to add value to a real estate company or individual (design for them: logo, branding, marketing material, etc.) which could possibly lead to some opportunities/learning experiences since I will be “working in the real estate field”

I’m only 23 and I feel like I have almost too many options to choose from. I’m an action taker and just want to put myself in the best position to achieve my goals which, at the moment, is acquiring my first property and developing relationships with like-minded individuals who I can provide value to and hopefully learn from.

If anyone has any advice on what they would do in my situation, or suggestions that I haven’t thought of, I would really appreciate it.

Thank you!

That's good advice @Theresa Harris. My plan is actually to purchase a SFR that I can convert into a legal duplex. I'm looking for a property in which I can add an extra bedroom to the upper unit (for example, buy a 3-bed and turn it into a 4-bed) and then convert the basement into a legal suite. I think this will increase the value of the property and offer a larger potential for rental income. What do you think?

Alright @Zorya Belanger, @Nick Vazquez, @Theresa Harris, and @Brad Jacobson, thank you so much for the advice! I think I was a little overwhelmed because there seemed to be almost too many options for me to choose from. Based on your advice, I think my next step would be to find a good property to house hack where I want to live (so in Guelph), not for the cashflow but to reduce my living expenses and build equity in the property over time. Then, once I understand more of the processes and systems I need, I can use this knowledge to purchase properties long distance where the markets are more lucrative for cashflow. 

Thanks again for the advice!!

That makes a lot of sense @Brad Jacobson, thanks! So if I’m understanding correctly, I should first choose where I want to live, get to know the market really well, and then find/make a good deal there? I’m assuming then, once I learn the ropes I can start investing out of my area and exploring more types of investments because I’ll have the knowledge and network to do so?

Hello, I am 23 years old, I just graduated from college, and I am ready to buy my first property! I currently live in Montreal, QC. and I will be moving to Guelph, ON. in August. I originally decided on Guelph because it is a great market (low unemployment, low vacancy rates, good population growth, etc.) and the area also aligns very well with my lifestyle. I would ideally like to house hack a SFR and do a duplex conversion; however, the prices are very high in the GTA and now I am wondering if it might be more lucrative to look at more affordable markets (for example Halifax, Edmonton, Saskatoon, etc.), or possibly changing my strategy (maybe look into 3-4 unit buildings where I can still get a lower down payment if it is owner occupied).

I work remotely and do not have anything tying me to a specific city/market so I am open to moving pretty much anywhere in Canada. I know it isn't necessary to live where you invest but being a newbie, I really want to be involved in the process and learn as much as I can. My main goal at the moment is cashflow and I'd like to start off with small multifamilies. I am also really interested in doing STR's in the future so it might be interesting to be in a market with good potential for that as well. Regarding my budget, I am planning on using OPM so as long as the numbers work, I am not overly worried about financing.

I guess my main question is what markets do you see having good potential for cashflow and what would you do if you were in my situation? (Stay in the GTA and look for deals there? Move to a more affordable market like Halifax and start investing there?...)

Any advice/suggestions would be greatly appreciated!!

Yes that makes perfect sense, thanks @Roy Cleeves!

Thanks for the insight, @Roy Cleeves! For a newbie investor planning to purchase a property in the next 6-9 months, do you think it would be wise to wait until the purchase prices decline even more or jump on the opportunity now? 

Hi Joe, welcome to Bigger Pockets! 

I am relatively new as well but we seem to be very similar; I too am planning to buy my first small multifamily early-mid 2022 in the KW or Guelph region and am trying to connect with as many like-minded individuals as I can over the next few months.  

Like @Cody Shearer I love working out and am also in my early twenties. I'd love to connect and chat!

Thank you @Robert Bugeag , @Brianne Chard , and @Darshil Parikh! This is all great advice, I really appreciate it :)

Hello everyone, I am new to real estate in the sense that I haven't actively invested yet, however I have been educating myself through books, podcasts, and the Bigger Pockets website for the past year and a half. I am extremely passionate about real estate and all that it entails and I cannot wait to get started!

I am 22 years old studying Graphic Design in Montreal, Canada. I have one more year left before I graduate (Spring 2022), which is when I will move to and purchase a multifamily unit in Guelph, Ontario (or somewhere in that area) to house hack. I currently have 40k saved and plan to have at least 50k when it comes time to buy a property.

Over the next year, I plan to connect with as many individuals in this community as I can and really prepare myself as much as possible for my first investment. My question is, does anyone have any advice on what the best use of my time over the next year would be? Should I focus on connections (even though I do not live where I will be investing), analyzing deals, researching my market, looking into possible financial options, etc. 

Any advice would be greatly appreciated, thank you!!