All Forum Posts by: Milo Milosovic

@Zorya Belanger and @Christopher H. both have great insight for you regarding your position. It sounds like you may need to figure out some focus regarding your desired outcome and goals. Send me a PM and I’d be happy to chat with you and share some of my experiences. 

@Elijah Williamson Sounds like you have some cash flow opportunities from your list. A lot of times investors start in their own “backyard” because, well, they are familiar with it. Personally I passed on some smaller town deals recently due to the lack of having access to a Property Manager. If you are in the area your self you could self manage to start, just be aware that it is a skill set in itself. Some people self manage from a far distance, it’s just not my model personally. A PM can make or break your portfolio. Having a small pool of PM’s to choose from is probably a top reason investors stick to larger communities. 

I believe the lady that was referred to in one of the replies is Investor Girl Brit. She has a lot of great content on Instagram and was on a BP podcast. She invests in Saskatchewan and makes it work. There are so many different strategies and methods. You need to use the ones that accomplish your goals. Start by defining your goals and needs first. 

It is a small town so vacancy could be an issue with a small tenant pool to choose from. As an aside I do know that if you have a service van (plumbing, etc) and your phone number is on the side your phone won’t stop ringing! A little hard to get qualified service trades to head out there. Just my two cents. 

@Orion Hernandez Good for you for knowing about RE at such a young age. I agree with some of the advice already given: have a job, save up, House hack if possible. I think you should also start by defining your goals and the lifestyle you want and then figure out what it will cost you to have that life. Then you will know what you will need to get from RE or any venture you take on. Also learn how to live on a real budget, this will eliminate so much stress from your life. You will have to decide if you are willing to make short term sacrifices such as going on vacations when your friends do, buying new car if an older one will suffice, getting pets ( no offence if you have pets). Etc...  These things all cost money and time that you can put toward your goal. There is that saying that Mindy Jensen quotes “ Live like no one will now so that you can live like no one can later”. Educate your self and learn from a mentor. You have already had a couple of people here offer to have you reach out to them. Do what they ask and talk with them. Best future to you. 

It sounds like you thought of some good options. If you give a list to the seller they may not do anything with it as it may appear like more work to them. It almost sounds like you would have deals to “ wholesale “ to other buyers, but would need to create a network of buyers. I’m not sure if you meant that a small amount of the leads would make financial sense, therefore the other leads don’t make sense to pursue ? If this was the case then it would be pretty hard to market it to another investor. If you wanted to chat about what you are coming across feel free to message me. I am also in the Edmonton area.  Best of luck with the flips! 

Good for you for starting at a young age. I agree with the others. Start attending the meet ups and networking. Don't just jump into a deal for the sake of jumping into a deal. You need to know your numbers and strategy so you don't end up in a bind. SFR is pretty hard to cash flow in Edmonton, so 2-4 units on the residential side is the way to go. Feel free to message me if you would like to chat!

* gold bar dump correction 

It is called Edmonton Waste Management Center now 

Yes Bin rental the way to go. Or you can trailer it to the gold bar dump for about a $21 flat fee at the dump itself. Try to have a spot on the property to place the bin. If it’s placed on the street you will need a permit from the city or risk a fine if it’s there too long. Just be aware that you may get other random trash put in it at night. I came one morning to one and some one had deposited the front half of a car in it! Don’t ask me how they got it in there, they were obviously determined! 

......and CONGRATULATIONS!!

@Matthew Drouin Thank you so much for sharing. As an investor who is moving from the 2-4 into the 6+ Multifamily market I am so grateful for hearing examples like this. I agree that self limiting beliefs are probably the number one reason that prevent people from taking action in all areas of their lives. Thank you for normalizing this type of deal!!