All Forum Posts by: Seth Ferguson

Become an expert in one area and own it before expanding your reach. You will not be able to become the expert you need to be if you're not focused. All of your real estate relationships, management, etc, need to be focused so you can get as much as you can out of them. Why start over from scratch once you've built your network.

Absolutely not.

Location is key and well worth the premium. Now, you need to make sure the location is actually a good location now and into the future. Consult official plans and know what's proposed for development long-term.

For single family homes, my preference has always been to stretch it as long as possible. Mortgage paydown is not the goal. Saving interest costs is not on the radar. I continue to refinance when the market allows to access equity to acquire another property. Over 1 or 2 market cycles, the capital growth trumps any sort of paydown...plus the lower payments help out with cashflow and how you look on paper in the meantime.

Not necessarily. Typical residential vendors need to use the sale proceeds to buy their next home. Try hunting for properties that are paid off where the seller doesn't need the money right away.

You're best talking with someone who knows your local market intimately. There are way too many factors to consider for anyone online to give you worthwhile advice.

You can definitely talk about what you're learning...as someone starting out, you'll likely be learning something new every day. A quick one minute video talking about it will start planting the seeds for down the road.

The best thing you can do is have another capital partner lined up. You'll need to consider how you're going to present your value and mitigate his risk through your experience and management of the project.

Depending on the location, you could use your lawyer's or accountant's office. Keeps it more business-like. I detest coffee shops...to many distractions and you need to have the other party's full attention.

The key is having solid management, because you won't be able to be there consistently. I'd suggest speaking with, then meeting in person, a number of pms in your chosen market and getting referrals.

There are pros and cons investing in a major market like Vancouver. I did single families around Toronto.

You just have to do it and take the plunge!