New Investor!

General Real Estate Investing
1

Im new to these forums this is my very first post so i dont know if this is in the right section, just looking for some help and guidance.
Okay, well i bet you guys were excited to make your first real estate investment.

So im 18 years old, Coming out of Southern Ontario Canada. I have saved all but $8000 of all my hard earned cash. i work part time, and sell clothing for extra cash(my little business haha) i expect to reach about 10000-12000 by the time spring rolls around.

So get this, i would like to start young. i dont know my parents told me to wait til i gather some more cash, but i want to know if it is even necessary. but all that time of me saving for more cash will just take away time where i can be paying off the mortgage.

im looking for a tri-plex home, definatly needs seperate hydro meters(i heard thats the smartest way) and those homes around here vary from 140 000 - 250 000 (depending on area and size) im looking to spend about 160 000 to get an OK area, and maybe find some good tenants paying rent every month to get in there.

does my measily $8000 mean anything? can i own and manage a property? i have some what experience doing this with my parents as they own a home i make reciepts and help handle avictions yada yada yada, so i kinda know the deal. I dont want to take much advice from my parents tho as they get all there advice from the re agent, and they are kinda foriegn lol.

Any Help guys! Thanks
-Brian

Oh! and let me mention that i live at home, no expences other then cell phone bill.
so i rack in about 300-400 a month pure profit just with my job, shirts can vary 100-1000 a month.

thanks:)

2

Brian, You can do some thing with what you have. The important part is to “do it” in the form of action. Your questions will be answered as they come up. At’s all pretty logical.

Christian

3

Thanks alot:)

something else
would you suggest buying at 0 down?
and how can i go on doing this??
i may wanna take a look at some houses soon.

4

You can buy with 0 down and in your case, depending on the deal, its probably a good idea. Anytime you can make the numbers work without putting your own cash into the deal its a good idea.

By the way, there are many ways to do this. Probably way to many to explain on a message board. I think you should start by reading all the articles on this site as well as some of the others and then see where they lead you in terms of furthering your education.