Key Principles:Mindset and Goals:Think Long-Term: Real estate is a long term play in most cases Set Clear Goals: Define your financial goals and how real estate fits into your overall plan.Finding the Right Property:Location, Location, Location: Invest in areas with strong economic fundamentals, good schools, and low crime rates.Cash Flow is King: Look for properties that generate positive cash flow (rental income exceeds expenses).Consider Appreciation: While cash flow is primary, also consider properties in areas with potential for long-term appreciation.Financing:Get Pre-Approved: Get pre-approved for a mortgage before you start looking at properties.Leverage Wisely: Use leverage (debt) to your advantage, but don't overextend yourself.Consider Creative Financing: Explore options like seller financing or partnerships.Building Your Team:Real Estate Agent: Find an experienced agent who specializes in investment properties.Property Manager: Consider hiring a property manager to handle day-to-day operations.Accountant: An accountant can help you with tax planning and financial management.Attorney: Consult an attorney for legal advice and contract reviews.Managing Your Investment:Maintain the Property: Keep your property in good condition to attract and retain quality tenants.Screen Tenants Carefully: Conduct thorough background checks on potential tenants.Review Your Finances Regularly: Track your income and expenses and make adjustments as needed.Example Action Steps:Set Your Goals: Define your financial goals and how real estate will help you achieve them.Educate Yourself: Read books and articles about real estate investing.

I am debating between house hacking in the Bay Area for my first property or buying my first property out of state with the help of a property management company.

It would be helpful to know if you are talking about turn-key properties, or value-add properties.

If I were to refinance he also wouldn't be obligated to help with future closing costs on the home.

It could help for word of mouth referrals by other tenants.

If you have any questions or want to chat about strategies, feel free to reach out—I'm happy to help!

Let me know how I can help!

Hey everyone, my name is Alex, I’m a new investor in Ontario and I have learned so much watching the podcasts and reading books from bigger pockets, I love the community and how helpful everyone has been, I would love to network with some other Canadian investors and learn some more!

Every positive review on their website are from people who just found them and are happy like they found a gold nugget in their backyard and have zero experience with their accounting department or have yet to file a claim.I am thankful for finding this discussion as it helped me realize there are multiple options for STR. 

I made a quick video explaining my thoughts and comments to help you on your journey!