All Forum Posts by: Recko Jean

Thank you so much for your response! I really appreciate the advice and the encouragement. I completely agree that building the right team is crucial. I'll definitely reach out for some recommendations. Thanks again!

Hello everyone,

I'm based in Prince Edward Island, Canada, and my wife and I currently own a duplex apartment where we live in one unit (we've had it for two years). We also own a single-family home with a detached garage and a separate lot that is currently secured with the mortgage of the single-family home (we've owned this for 10 months). We're in the process of releasing the lot from the mortgage, as our plan is to use it as a down payment for a construction loan to build a quadplex on it. Additionally, we're looking to convert the detached garage into a one-bedroom ADU, especially since the bylaws are being amended to allow ADUs on the same lot as a single-family home.

Our goal is to continue building our portfolio with multifamily properties, and I would like to aim for acquiring more than one property per year. I'm seeking advice on how to achieve this goal and would appreciate any guidance on strategies I can implement to make this happen.

Thank you in advance for your insights!