Thread: Apartment investment...?

Hi,

I am going to be turning 19 in a few weeks and im still confused. Real estate investment is an amazing investment because you are getting income from it and also building equity. I want to start investing now. The reason im confused is would it be the right time to start and how. Also does anyone on here have experience with apartment investing. Does anyone live in the Vancouver BC area, who can help me put my foot in the door.

Also this site is amazing, i just found out about it. I wish i knew about it long time ago. Keep it up.

Thanks,

I started 2 years ago, and going strong still. All i can say is start small just to get your feet wet, start with a house, and rent it out. Do you still live at home? that helps as well.

If you start today its better then tomorrow, cause everyday that you dont start is a another day that prices go up. I dont know how the realstate market is in Van city, buy in winnipeg its great and going strong. You can cashlfow just about about anything from 100k to 300k.

There are a lot of guys on this board that can help and piont you in the right direction.

If there is any more info you need, dont hesitate to ask one of us.


Michael

Thanks for replying. I would love to get my foot in the door and get wet its just how. I do still live at home. Its just at my age its hard to get a loan, banks don't except people young as me until they see i got money coming in. Any suggestions.

Here in the states it really doesn't pay to buy a house unless you put a huge down 80%+ or have some crazy low interest rate and a 30 year payment.

Originally Posted by Gambino

Thanks for replying. I would love to get my foot in the door and get wet its just how. I do still live at home. Its just at my age its hard to get a loan, banks don't except people young as me until they see i got money coming in. Any suggestions.

Depending on the house market, you only need 5% down if its your first house, or primary place. But what you do with it, is your business, meaning live at home, and buy a place and rent it out. How is the rental market in van? did you do research? do you have a job? whats the house values? Can you borrow money from parents? or freinds?

what i want in the future is to own apartment buildings as an income. But if you say buying a house is the best bet in the beginning i would rent it out. Market in van isn't going to great right now. I do have a job making a miserable $12 dollars an hour, as i said i'm 18. I cant borrow money from parents or friends. So right now i think im pretty screwed. How can i get started. Thanks.

How do you thing your going to own those apartments? making 12 dollars is better then not making anything at all. be greatful. Remmeber in life to make money, you dont need money. well you dont need your own money. have you done reading up on relaestate investing?

If you beleive that your screwed your screwed, but if you have a will, and passion, there is a way..

haha thanks for reminding me. You are totally right, i guess the reason why i haven't started anything is i don't have the right mind set. I have read about real estate investing. I was thinking of getting being a real estate agent first. At the moment im getting my life insurance license to. Thanks again. How did you start investing.

The key in everything is to have the right mind set, and already see yourself at the goal, just have to figure out how you got there. As for me, i have always wanted to be in realestate, building and investing. so i started couple years ago, in rental properties, and i have several now. At the moment looking into getting into building about a 10 unit condo project to get me started.

So my thing now is that i have to look for investors. Just another small step in the process of my drive. But i know its going to happen cause i beleive in the idea, there is drive, passion, and willing to help others on the way to the top.

Do some reading, find out what it is you like or love about realestate? why do you want to do apartment blocks? is it for money or to create and manage something? Is there a passion behind your dream. All i can say is read read read, and find out everything you can about what you want to do in realestate. that way everything will become a bit easyer for you.


Michael

How did you start with investing. Did you have a career first then that made it possible to get a loan? The reason i choose apartment buildings is you get income from it while if you sell it in a few years you have created more money on the equity. Your thoughts?