Additionally, another neighbor who owns an adjacent parcel has expressed interest in joining the project, contributing their land to the development as well.I believe this could be a great opportunity for all of us, especially as a unique retirement plan for my family and my neighbors.

Hey @Mario Morales I assume you're planning to purchase the new property under your personal name rather than through an LLC?

Also, without even looking at the plans a 7 unit building will likely have flawed floor plans and/ or an inefficient layout unless its an irregular site.

Would this be a feasible plan?

I plan to continue to invest in southwestern Ontario (London, Woodstock, St.

Unless you are buying at a significant discount, or are hacking it, or have some other value added strategy or plan.

That’s a helpful perspective as I plan out my projects.Thanks again for sharing your insights!

If that is your plan then go do something else.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

Quote from @Nithin Kumar: New to Phoenix and hearing a lot of places for rental investments but trying to figure out from the pro's around to find what are the areas that can break-even on a monthly basis and the areas that can show appreciation in the nearer term. planning to put down payment of 30% (~100k) Hi Nithin, I live in North Phoenix myself and would recommend anything around the Paradise Valley Mall area.