All Forum Posts by: Michael Hunter

I lived in Edmonton while going to school. Probably a good place to look for new investments since the oil field crash. Welcome to the community and good luck!

Hello BP community!

My name is Michael. I am a 22 year old living in northern Canada. I just made my first deal and loved it! I bought a mobile home off of a family member for 21500, did some renovations to it and am currently renting it for 1200+utilities. I enjoyed the process so much that I started searching the web for other real estate investment ideas can came across this site. Right now I am obsessed with real estate investing and exposing my self to as much knowledge as possible. I am really looking forward to reading and contributing to the forums, and searching for the next deals. If anyone is from the Yukon get in touch would love to chat.

Michael

Thanks a lot guys really helpful!

Hello Bigger pockets community! I am 22 and just made my first real estate deal. I bought a mobile home off my uncle using a line of credit for 21500$ It was an old dump so I have made it nice again put in new floors, a few appliances, painted everywhere. In total I am in for around 25000. I am currently renting it to a client for 1200 a month plus utilities. Pad fees are 400$ a month and the interest on the loan is around 200 and there is a small amount of tax so the property costs me around 650 a month. My question is what do I do with the profit I am making? Do I use it to pay off my line of credit? Do I use it plus my income from my day job to pay it off as fast as possible? Or do i make minimum payments and use the income to invest in other properties? I have just signed up for the site so I apologise if this is answered somewhere! Looking forward to hearing from you.

Michael