First Rental Property

Hi Friend,

I hope you are doing well.

Investing in real estate is a long term strategy.  Most new real estate investors who are just starting out think that they are going to become rich by investing in real estate.  They feel that they will become wealthy the moment they purchase their first rental property.

The reality is that you can become wealthy by investing in real estate, however, becoming ‘rich’ does not happen overnight.

To become wealthy through investing in real estate takes a life time of  focus and commitment.

When I bought my first rental property in Oakville, Ontario, Canada, I did not know much about real estate investing.  All I knew was that I wanted to make money by investing in real estate.

I first thought that I would only own the property for between 3 to 5 years.  As time went on, and the more I discovered about real estate investing, the more I realized that I should own my first rental property for as long as I possibly could.

By speaking to and studying the habits of many veteran real estate investors, I discovered that wealth is created through real estate investing over the long run.

Further, buying and selling rental properties without a clear action plan does not help you to become wealthy.

What I Did Last Year…

This past year I was attending a real estate event in Toronto called The Property Show.

A prominent real estate broker and developer was speaking at the event.  The individual was Brad J Lamb, aka, Brad Lamb.

Brad was addressing a question from an audience member on the topic of real estate investing.

Brad said something to the audience member that has stuck in my mind ever since.

Brad was explaining the to audience member that real estate investing was a long term strategy and that you:

“Don’t count your money every six months”

These were very wise words. Experienced real estate investors know that  a trap that you can fall into is to closely reevaluate your real estate investments over and over again.

The point that Brad was making was that if your investments are performing well, don’t constantly monitor them.  The action of over monitoring them is not a productive one.  Just let the be, and just let them to continue to grow through mortgage pay down, appreciation and cash flow.

This was a short post today, but real estate investing in NOT a short term game.  For a detailed breakdown of how to do things properly, visit my most popular blog post to date:

How To Buy Your First Rental Property

Happy Investing!

Best Regards,

Neil Uttamsingh

ps: Remember, I am an experienced real estate investor and Licensed Realtor.  I help people like you everyday purchase their first rental property.  If you are looking to purchase Toronto real estate, Ottawa real estate, Brampton real estate, Hamilton real estate, Richmond Hill real estate, Oakville real estate, Mississauga real estate, North York real estate, Kitchener real estate, or Brantford real estate, please send me a message at NEIL@FIRSTRENTALPROPERTY.COM and I will help you get started !!!