Hello Investors,I am a carpenter working full time in Toronto I have set my goals high to become a successful real estate investor and am willing to put in all the work it takes to get there.I have spent the last few years learning and planning it out and I would like to take action this year and buy my first property.

@Tim GeorgeIt's all going to depend on what you plan on building.

In addition I will not raise the rent this year.Do you think this is a good plan? 

The original plan was to split the home and do a dual rental where one portion would be an Airbnb and the other a regular LTR, but after completing the rehab we decided to have it fully as an LTR.

Try looking into zillow/Redfin and see what your potential rents you can get near the neighborhood by filtering the bedrooms/bathrooms of the intentional property that you are planning to buy.

The original plan was to split the home and do a dual rental where one portion would be an Airbnb and the other a regular LTR, but after completing the rehab we decided to have it fully as an LTR.

He said he was looking for a 6-7 year plan, so it taking years is expected.

I have a 9 to 5 which I plan on keeping, so all money earned from cash flow will be reinvested and saved to be used on the next property.

If you plan to purchase a rent ready property off the MLS to LTR the entire property, it will be a while before it produces a positive return. 

So plan on that as well.