All Forum Posts by: Filipe Matos

Hi everyone, my name is Carlos. I consider this to be my first step in making a better future for my family and I. I have wanted to get into real estate investing for years but haven't had the confidence to ask questions and get started. I came across the BP website by accident and was impressed by all the information it provides. I am totally new to real estate investing and look forward to learning and making things happen.

Looking forward to getting to know the community.

Carlos

Hello everyone,

My name is Rajeev. I live in Montreal, Canada. I have no experience in investing but I always wanted to invest in real estate because the idea of rental cash flow and appreciation is very apealing to me. I came across Bigger Pockets while searching for resources to learn more about real estate investing. I have to say I'm hooked. The podcasts are very informative and hosts and guests are very knowledgable. I hope to gain enough knowledge and courage to do my first deal. Since Canadian real estate is very inflated I'm looking for resources and help in investing in US. Maybe an idea for podcast? Any help, tips, suggestions are greatly appreciated.

Thanks.

Hey there bigger pockets, I am looking to expand my portfolio sooner rather then later.

I currently right now have a surplus of $18 000, yearly. I am looking to in buying an investment property.

I currently have owned my home for just about 1 year, which we have about 13% equity in.

Now the problem I have is generating the capital for purchasing a second property. I live in Ontario, Canada and you need 20% down on your second property. So now I am not sure about how to get into my second property. So I am wondering if I there is any way to not have 20% down on the second property right now about 60% of that extra income is coming from my day job and the other 40% would be coming from my girlfriend, it is not claimable income. So as I understand it currently you cannot have more the 32% of your paycheck leveraged against. Right now my houses mortgage is 21% of my pay which leaves me 11% to get a second mortgage. Which means 405$ a month towards the second mortgage even though I could realistically could afford a lot more. So I am wondering if anyone has any suggestions on what to do.

Am I just compelled to saving up my income for two years until I have enough capitol or is there any other way?

TD Bank will do 20% for two investment properties, but they must be located in any of the eastern seaboard states to qualify.  I don't think Michigan qualifies as an eastern seaboard so count Detroit out, LOL.  

Yes, this is the struggle every Canadian faces. Getting financing that still makes the numbers work. Interested in the result here. @Alvin Neal how is your experience in the Detroit market? Investing on the outskirts I assume?