Apollo
New Member
Hi all,
I am a young (late 20's) aspiring investor who is willing to put in time to make an educated investment and curb as many risks as possible.
Here is why I am writing this post;
1. To narrow down and ask for tips on how/where to efficiently research a (hopefully) upcoming investment.
2. To possibly connect with a "mentor" or an informational interview with a seasoned real-estate investor (dinner of your choice on me!)
Here is my plan; I would like to invest in a detached property in Toronto with a longtime friend with the following criteria/outcomes.
1. Un or starting-to-gentrify area (i have a few areas in mind.)
2. Buy the place, rent it out, have it carry. Sell/reno/demo when we feel the time is fit.
Things I would like to know more about;
1. Setup a corporation or just put two names on ownership of the property?
2. Is 20% down on the property the least we can go to avoid paying mortgage insurance etc.
3. Reno right away or hold and let renter carry?
4. Is next spring a good time to buy?
5. Borrow money off my current property? or are other options available?
Anyway, there are so many things i have to research and I hope to connect with someone that can put me in the right direction.
Thank you all in advance and I hope to hear from you soon.
I am a young (late 20's) aspiring investor who is willing to put in time to make an educated investment and curb as many risks as possible.
Here is why I am writing this post;
1. To narrow down and ask for tips on how/where to efficiently research a (hopefully) upcoming investment.
2. To possibly connect with a "mentor" or an informational interview with a seasoned real-estate investor (dinner of your choice on me!)
Here is my plan; I would like to invest in a detached property in Toronto with a longtime friend with the following criteria/outcomes.
1. Un or starting-to-gentrify area (i have a few areas in mind.)
2. Buy the place, rent it out, have it carry. Sell/reno/demo when we feel the time is fit.
Things I would like to know more about;
1. Setup a corporation or just put two names on ownership of the property?
2. Is 20% down on the property the least we can go to avoid paying mortgage insurance etc.
3. Reno right away or hold and let renter carry?
4. Is next spring a good time to buy?
5. Borrow money off my current property? or are other options available?
Anyway, there are so many things i have to research and I hope to connect with someone that can put me in the right direction.
Thank you all in advance and I hope to hear from you soon.