All Forum Posts by: Milo Milosovic

@Kevin Paynter welcome to REI. It's a great business and can also be a bit overwhelming. Remember this acronym FOCUS. Follow One Course Until Successful. It helps to narrow down your strategy and make the best use of your time. Enjoy the journey!

@Melanie Moore welcome to BP. You will gain a wealth of knowledge here. Feel free to reach out and ask questions. 

@Jocelyne Sema another factor to consider is asset protection. If you wait until your primary residence is fully paid, then invest with other saved up money, and potentially get sued you now have a nice big “asset” for a lawyer to go after. If you use the equity to buy more property you have a less appealing asset to go after on paper. Disclaimer: I am not a lawyer so seek your own legal advice. 

@Monty Lopez I agree with @Zorya Belanger you should contact an accountant and maybe an investor savy mortgage broker regarding who can be considered a “tenant”. There are far more important points to focus on in creating any wealth with real estate than just tax benefits. I would also caution regarding telling a lender that the property you are buying is owner occupied if that is not the intent. There are some pretty strong laws around this. 

@Ryan Tierney It sounds like you have the start of a great plan. When you say commercial RE are you referring to commercial as in office/retail types of buildings or multi family thg will require commercial financing? Learning to analyze deals properly is very important. Wholesaling will work if you know how to run the numbers and also requires a lot of work to find the deals that leave enough meat on the bone for the end investor as well. I’d be curious to know about your experiences and exposure so far and which markets you are considering. Feel free to reach out. Thanks. 

@Bathsheba King and @Fred H. hello. I was curious as to why you want to focus on wholesale? I am interested in property in New Brunswick and would like to chat. I’m also curious about your end goals and what you are looking to achieve. Maybe we can collaborate together. Thanks. 

Hi @Maurice Graham. I am not an agent so cannot answer specifics. I have heard a lot of great recent BP podcasts where David Greene talks about being a top agent and the work ethic and dedication it requires. Well worth looking into. He also has a new book called “Sold” that would be a great read. Hope this helps a bit and I’m always open to having a chat about goals and real estate. 

@Cameron Hill you've probably already come across them but Rich Dad Poor Dad and The Cashflow Quadrdrant are great to get the mindset going. I've always gained value from the Bigger Pocket books I've read. Notably BRRRR and Long Distance Real Estate Investing both by David Greene. I've also really liked the Go Giver series, The Dream Giver, and Multifamily Millions. There are sooooo many good books.

@Caroline Holladay I think it depends on what you are looking to achieve from real estate, and what are your end goals? Are you looking for a career, or looking to learn how to invest? A lot of people, myself included, start out in the residential sector and eventually move into commercial lending due to the glass ceiling on personal mortgagability. In my opinion you may learn more in the commercial space ( again, only my opinion). I feel that if you really take some time to look out in the future and figure out your goals, the answer usually becomes clearer. Then  Ask yourself “ Does this move me closer to my goal or farther away from it?”  

@Chase Novotny As Huong Luu suggested the EREIA is a great place to connect. What are your specific goals moving forward? Would look forward to chatting.