All Forum Posts by: Mona Azad

excellent idea, Dan. Unfortunately, I am in kingston so can't join. Good luck.

Welcome to BP! You have come at the right place. Make sure to listen to the podcasts here. Tons of valuable information.

Thank you @Matt Geerts

@Joe Villeneuve, Yes, you are so right. I was thinking like the majority (who thinks a house is your biggest asset) when I bought the house 7 years ago. Then both of us worked like crazy to pay off the mortgage . However, soon after buying the house, I started to realize that it behaves more like a liability than an asset and then I read "Rich dad poor dad" which was a total game changer for me.

Unfortunately, it is a 2-story house not a bungalow, so we can't even rent out the basement. GAHHH!!!

I agree @Matt Geerts. What a great idea to do arrange a meetup when you are new in the game! I will try and arrange something locally.

If you don't mind sharing, what is the real estate market like in London? I mean do the rents follow 1% rule generally? I have not seen this here in Kingston but may be I am not looking at right neighbourhoods.

@Matt Geerts Are the new investors allowed to attend these meetups? I am brand new to the game.

Good morning BP, I am just wondering if it is a good idea to use your home equity (principal residence) to buy an investment property when you are starting out or is it too risky? For last 7 years, we have poured every single penny of our savings towards our mortgage and now are very close to paying it down. That probably was not very wise but back then I had not discovered BP and had not read "Rich dad poor dad". So what would you advise?

Thank you @ Jay Ritchie  I am excited to interact, learn and actually go out and do! Do you own any rentals or are you new in the field too?

@Aaron Miley I am mostly interested in buying multifamily but am open to SFH if there is a good deal. I am researching my town for both. SFH's are much more common than multi-families here.

@Michael Lee Great advice. I will start calling property managers today. I have been looking on Kijiji and Craigslist but not sure if these are reliable sources for rental rates. Excellent tip on changing the locks on exterior doors.

Hi everyone, I am new to real estate and BP. I live in Kingston, ON and have been wanting to buy a rental property for some time. I must admit that it is kind of intimidating to write my first post here as all of the members sound so knowledgeable and experts in their fields. But I had to start from somewhere so here I am.  

I have been listening in to a lot of podcasts here and have been reading the posts on the forum regularly and I want to start analyzing deals. My question is how do you find out how much the property will rent out for? Do you just estimate based on similar properties? 

Congratulations on the baby! Do you have a lot of multifamily for sale in your area?