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.

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

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

It will go a long way towards helping you if you ever go to court.

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

I can't help but wonder how these people sleep at night. 

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!

These upgrades can help differentiate your property in the market.Let me know if you want to connect!