5 Steps to Buy Your First Rental Property in Canada. Millionaire Strategy

[@BryanMcCann-ks9jh]

Getting a head start by beginning early is the most effective way to build wealth, with investment taking precedence. I've learned from last year's experience that starting early allowed me to create a better life through early investments this time around.

[@Calvertmarian]

I always consult a financial advisor before investing. During the pandemic, I used their strategies to minimise risks and maximize profits, generating around $3 million in three years with my advisor, Jenny Pamogas Canaya.

[@Calvertmarian]

With the help of google you can book an appointment. She has a wealth of experience in the financial market gained over several years.

[@GHCfitness]

I'm afraid to take the plunge. How did you finally start?

[@zhongxina8427]

I am a first time buyer. I am purchasing my first rental property and I will be living in it. If you see this, wish me luck.

[@DarrenVoros]

Best of luck!

[@offnl_]

How did it go? Also planning to invest

[@evanarcher7083]

@@zhongxina8427 any update?

[@jasonstupak4535]

Watched and liked, thanks! All 3 of my adult kids have rental properties in the same city where they live. Saves the cost of a property manager and still very passive. Rent is paid by etransfer every month. I agree with everything else you mentioned.

[@jasonstupak4535]

@Lucas - RE Investor in Ontario All the best Lucas!

[@DarrenVoros]

Thanks for watching Jason and your kids sound like they're on the right path.

[@asrattadesse8597]

Thank you for the informative video! I liked and subscribed. My wish is to become a real state investor, I have equity in my first home and saved up down payment for my first rental property. Should I use my equity towards the second home or apply for a whole new mortgage with just the money I saved up for down payment and legal fees?

[@compoundingloonies]

Hundred percent agree. Real estate has helped me reach the 1M networth!

[@DarrenVoros]

Giddy up!!

[@slf5141]

we own our own home and have one rental property.. recently mortgage is paid so we really dont want to get into a mortgage again but possibly will as we are interested in getting a 2nd rental property

[@eunicecollett6121]

I am just starting on my journey of becoming a real estate investor.

[@Stack03]

Also in 🇨🇦 there’s a CELIAPP account for first time home buyers

[@Stack03]

Buying my first property very soon ill be back in the comments 🎉

[@stephenfermoyle4578]

yet another person talking about real estate honestly !!

[@iridetoronto2894]

thank you for the great contents Darren. It would be interesting to hear your take on buying a property for investment purpose solely while living on rent.

[@DarrenVoros]

Thanks for watching. I'm a big fan of buying properties for the sole purpose of using them as rentals.

[@Jess-x7i]

Hey there! Love your content. Your advice is absolutely fantastic! Is your free Masterclass still available? I ask as the link appears to be broken. Let me know, thanks!

[@A-rM-qk4pe]

Sir investment is good when you are not relying only rental income only , if rental doesn't pay and property goes power of sale 2 thing goes . 1. Investor goes on legal Hassel 2. Property price increase 3. Less Home buyer want to go for power of sale which means less inventory in a market. If you can afford investment property then only go in canada because of laws.

[@ABb-xw6jy]

AmZing !!! I’m looking into purchase OmG out of province Bcz Ontario is insane.. and it’s not my first property .. 3rd but this time alone

[@joesix2040]

Helpful video, tho all the camera angle cuts are a little distracting

[@TwistedGorillaFab]

Ok, I live in Calgary...At the moment it is very expensive. I want to buy a rental 1.5hrs away in central Alberta. House prices in Calgary are out of my reach and a have a decent paying job here. I do not want to move but want to pay cash and then rent it out. Financing is not an option at the moment. Should I leap?

[@tdbaseball4733]

I am thinking of buying a fourplex with 3 tenants on a month to month lease and the other on a lease until march 2023 in Ontario. Can I end the leases with the month to month lease's to bring in new tenants and how much notice do I need to provide. Thanks

[@sushilgaur]

Very well done information thank you

[@zainabkamran3498]

Where to invest in Canada? In which city or province? Which type of property.....I mean town house, condo...etc??? Also comparison of investing between Toronto and Surrey....or Toronto and Abbotsford.... My options for investment are Abbotsford, Surrey or Toronto Plz do reply i shall be thankful to u... :)

[@houseofblayne963]

Darren.....love your videos. I'm working towards buying my first home and rent out part of it so that I can start building wealth. I've been watching your videos religiously, I think I've watched them all in less than two weeks. Huge fan! Any pointers for Calgary market?

[@houseofblayne963]

@Lucas - RE Investor in Ontario lol honestly up until now I cared more about camping and road trips than actually paying attention to $. But now I want a different kind of adventure...so learning the ABCs of investing in Real estate. See where this goes.

[@DarrenVoros]

Hi Blayne. Thanks for watching. In Calgary and any Alberta market buy for cash flow. The market won't stay flat or down forever but it's important the numbers work now. Hope that helps.

[@heatscoremusic]

Great video. A video on Airbnb income might be cool if you haven’t made one already.

[@poppalq]

Deal check is the real mvp 😎

[@はII]

I have some land of about half n acre in my name . Do you think building a quadruplex a d then renting out is worthy

[@DarrenVoros]

You have to make sure it's zoned for what you want to do. Contact the municipality and see what your options are.

[@はII]

@@DarrenVoros yes it’s R2

[@paulwalters7984]

Great video Darren

[@funshoonasanya9518]

Very useful and valuable advise.

[@DarrenVoros]

Glad it was helpful!

[@AlexAlegriaMariachi]

Great video, how can I sign to your free master class webinar? Thank you

[@arvinderpalsinghsethi7802]

I superliked this video as it gives me the intended crux. I am putting across my question for your guidance if you may please. I have bought my first accidental rental property as a detach single family bungalow house in Aug 2021 in Laval (Quebec). I say accidental because it just happened due to the situation. I was not aware of the existence of the word real estate investor. But after buying this property and renting it out after basement renovation, I started to research on how can I expand myself. I am an IT contractor and now I am looking on to expand myself using this rental property but not able to exactly figure put my further strategy. Shall I use the equity of this rental house to buy my next property or shall I wait till I collect some money again to put down the down payment and other expanses for the next rental. I will be obliged with your guidance.

[@Stack03]

🔥🔥🔥

[@ashrafhelal9354]

Hi Darren, nowadays the bank rate is 6%, Is it wise to invest now?

[@DarrenVoros]

Interest rate is irrelevant. It's wether or not you cash flow or not that is the issue.

[@steven1407]

Hi Darren, is it better buying a rental property that already has all the rooms rented out or a less expensive home with no tenants? Also buying a home, is it getting a variable mortgage right now since it's lower or a fixed? This will be my first rental property! Will be putting down 20% downpayment around a local university. Thank you!

[@snipinmonsta]

Hey Darren I was hoping you could help me, I’m currently trying to look into purchasing a 3 unit multi family but I would need to be approached for 350k plus at a minimum to be able to buy one. I have great credit and only debt is my car loan I have a alright paying job and I am planning to sell extra car so I can either put a down payment down or lower my debt. My question is how can I assure I get approved for more so I can make the move? My strategy is going for cash flow. Thank you even if you don’t answer my man you been so helpful as I’m learning soooo much from your videos ♥️

[@henryimamshah7706]

I am in alberta I have $20000 down-payment but the bank will not finance.

[@GermaineKabushemeye]

So that you can help me buying my first property income

[@andrewbryan6353]

Great video

[@DarrenVoros]

Glad you enjoyed it

[@dropian]

How do I find a good accountant and lawyer?

[@DarrenVoros]

Referrals are the best source or get connected with a local investor network.

[@aichabenromdhane8786]

you are great

[@cheekymonkeygirl3378]

I find your explanation easy to understand but why are your subscribers so low? 😔

[@JR_55591]

This real estate investment culture has ruined society's general living needs. An unfortunate time we live in.

[@DarrenVoros]

We have a supply/demand issue, that's the problem. Cut red tape and bureaucracy and we'd have a much more balanced reasonable market.

[@JR_55591]

@@DarrenVoros true but this culture has played a heavy role in hurting your fellow Canadians. It's a hard truth. But investors don't like talking about this.

[@HevahaB]

Are you married

[@Jess-x7i]

Hey there! Love your content. Your advice is absolutely fantastic! Is your free Masterclass still available? I ask as the link appears to be broken. Let me know, thanks!