HOW TO BUY YOUR FIRST RENTAL PROPERTY - Real Estate Investing for Beginners in Canada

[@shoelover1797]

Hi Darren im from Edmonton and I love to know more about this platform because I wanted to leave my 9-5 grind. I just dont know how to start but your videos is very interesting.

[@BassBwoy3]

From Langley, BC. I bought my first piece of real estate this year; 2 BD / 2 BTH condo in Langley for $380K. I wish I ran the numbers better, but at the very least, I'm renting the other bedroom out and it covers 42% of my living expenses. Finding cash flow properties in Lower Mainland, BC seems hard, but it has got me thinking about other locales in BC and other provinces too.

[@DarrenVoros]

Thanks for sharing Alex. Condos are tough to cash flow because of the maintenance fees but if it's working for you, keep going.

[@BassBwoy3]

@@DarrenVoros - For sure. I just bought to get in the market at a lower cost, low interest rate and take advantage of low downpayment when it's a primary residence. The average 2BD single family home in Greater Vancouver is easily $650K+, which puts it out of reach for most people. Vancouver Island looks to be a different story. In future, I wouldn't buy a condo in Canada as a true investment property after seeing how maintenance fees in Canada have been doubling this year.

[@murkT]

Hey Darren! You mentioned in the video that when you started investing, you purchased a single family dwelling for your first property. You then went on to say that, had you had the knowledge you have now, you would have chosen differently. I just wanted to know what the ideal type of property would be for a beginner (what you would have gone for). Great vid btw and thanks for all the tips.

[@sphinxfn2218]

Any property is great if the cash flow is positive

[@bronsondiamond2025]

From Edmonton, Alberta here. I'm glad I'm getting into property investment as the growth and expansion rate in Alberta is ridiculous.

[@DarrenVoros]

I've been an Alberta investor for some time. Glad you enjoyed the video.

[@giselelabbee8867]

Awesome compilation Darren. Edited well. You packed a thorough review of basic understanding and requirements to start your RE investing. Great backdrop too :)

[@DarrenVoros]

Thanks Gisele. I loved that backdrop and miss it. Hopefully we'll be able to travel again soon enough.

[@alvinmaalat1578]

That is really great. Thanks for sharing.

[@DarrenVoros]

Thanks for watching Alvin!

[@christopherpapin6574]

Very good educational video Darren I live in BC and and looking to become an investor for long term! Can’t wait to learn and make that cash flow

[@MogulMastermind]

Thank you for this Great Video, Darren!

[@DarrenVoros]

My pleasure!

[@eliphas_catdaddy7982]

Very inspiring, thank you. Its always the hidden costs and maintenance that make me worry.

[@DarrenVoros]

So true!

[@louiebuckets]

Thank you for sharing these videos Darren. We need more of these type of content here in Canada

[@DarrenVoros]

You got it!

[@FlipWithRick]

cool content you deserve more subscribers

[@DarrenVoros]

Working on it!

[@trailsloth6956]

When did you buy properties under llc?

[@DarrenVoros]

I don't buy properties under an LLC in Canada. We set up corporations. I did that after owning a few.

[@AmrinderSingh-lc7dy]

Hello Darren, any suggestions on which will better market in terms of long term investment GTA or Alberta ( Edmonton or Calgary)? Please suggest. Thanks

[@antongurov877]

Oh man, here i am trying get into this, also from red deer

[@josephlee1204]

Hi Darren I would like to start investing can you show me how? Thanks

[@DarrenVoros]

Sure thing!

[@josephlee2581]

@@DarrenVoros where do I start?

[@wynnsimpson]

Nice video. You are likable.

[@dylanpudlowski8335]

Thank you Mr. Voros for the advice.

[@DarrenVoros]

You're welcome. Happy to help in any way I can

[@businesswithsam]

Excellent tips! Thanks for sharing

[@DarrenVoros]

Thanks so much!

[@davidkrstevski4114]

Hello Darren. From Ontario here. In some videos you mentioned 10% down payment. How do you obtain this option? Everywhere I look and have done has always required 20% down. Is this relative to province? Thanks

[@DarrenVoros]

Hi David. 10% down is not province specific. It's more related to owner-occupied units. The bank will usually give you 10% down if you plan to live in it yourself. If it's a rental you can expect to put 20% in most scenarios. If you are putting less than 20% down you will be paying a CMHC premium though so you'll need to factor that in as well.

[@davidkrstevski4114]

@@DarrenVoros thanks! Yes I’ve been doing 20%. I thought maybe I’m missing out on something haha. #beginner. Thanks!

[@sandrinebedard9548]

How can you realistically have a positive cash-flow property in today's market? Everything is so crazy expensive and rents haven't caught up...

[@DarrenVoros]

Then you're looking at the wrong properties. If it doesn't cash flow, move on to the next one because they are out there. You may have to get creative but there is always opportunity no matter what cycle the market is in. I hope that helps.

[@BG-hh3pd]

Hey I have a question ..how did u build your team ??

[@paulg.5075]

If you bought in Red Deer in '02, you likely saw the value go up about 30-40% in 5 years.

[@RecapByRod]

If I manage my own rental property, can I charge to cost as expense? If so, how exactly?

[@DarrenVoros]

Hey. I have a video coming out on thursday all about property management. There are ways you can write-off managing your own properties. Take a look at the video on thursday and if you still have questions, let me know

[@jessiejay947]

I use to live in Red Deer too 😆

[@BG-hh3pd]

I want to start my own real estate business ..my age is 19 n I rly have no investment.

[@brad346326]

130,000 shit that’s a dream for a bi level Today

[@DarrenVoros]

Ya anything bought in 2002 is probably a pretty good deal today. That's the power of long term real estate strategies.

[@KCinvesting]

There is something about generational advantages when it comes to profiting from real estate. I’m a 4th year university student and going to graduate come August at the age of 22 with no debt and $40k in the bank. I’d say I am well ahead of most people my age and am still about $60k short of the 20% down payment I want/need to put down for even the smallest home in the GTA at about $500,000. This isn’t my sad story of how hard people my age have it, I’m just saying how much easier people aged 40+ have had it to double or triple their net worths by working low wage jobs with no education.

[@astromaxx7771]

Same like Darren, I worked in an environment where you can save money for the downpayment- cruise ships! Zero living expenses! Worked my a$$ off 14 hrs/ day, 7 days a week , but you can save big...and see the world for free ( when you not on duty, LOL!!!)

[@BG-hh3pd]

The thing is college or school teaches u but they don’t give u jobs. For me ,as a 16 yo, I would like to skip college well ik my parents would be mad at me but instead of college I would like to invest some money do a job n then start real estate m trading. A millionaire isn’t a millionaire due to only 1 kind of work. He does multiple work .

[@rebinreji3639]

millionare explaining how he became a millionare-12k views. some youtuber giving million dollar lamborghini to somone else-80 M.

[@DarrenVoros]

Seems about right.

[@BigAndy229]

Anybody here from Vancouver island? I’m new to this and would like to get a team together, that I can learn from and invest with

[@DarrenVoros]

Join The Reinvestors community. They are vancouver island guys and host meet ups and education. They are all round great guys too.

[@BigAndy229]

@@DarrenVoros thank you! I'll give them a call

[@kunalraj1753]

@@DarrenVoros any leads for Regina, Saskatchewan?

[@bpricey6592]

+respect

[@GrassKings]

Lower Fair view is still the ghetto, just to let ya know lol

[@Bavubuka]

What a nightmare process. I'll stick to foreign real estate.

[@DarrenVoros]

You should check out more of my recent videos to see the great potential there is with investing in Canada. I also have videos on cross-border investing if you are interested in that as well!

[@myrosamaria9517]

Great video. Thank you!