First Rental Property

Hi Friend,

I hope you are doing well.

There is one big similarity between new real estate investors and babies that I have observed and which I am going to share with you in today’s blog post.

Before doing that, I am going to tell you a little bit about how I got started in real estate investing.

My Story

I purchased my first rental property in 2005.  The property that I purchased was a townhouse and was located in Oakville, Ontario.  I purchased the property for $250,990.  The property was new construction, meaning that the property was in the process of being built.  When I purchased the property from the builder, the deposit requirements from the builder at the time was $15,000.  I obtained a First Mortgage from Royal Bank of Canada, which is one of Canada’s and North America’s leading banks.  The interest rate on the mortgage at the time was 4.25%.

When I bought my first rental property, I was not a member of an awesome real estate investment group, nor did I know anyone very well that was an experienced real estate investor.  As such, I had no one that I could ask questions of.  If I had a real estate specific question, I had to figure out the answer on my own.  Due to the fact that I had to learn everything on my own, it took me approximately one year from the time in which I began researching potential rental properties to the time in which I bought my first rental property.  When I purchased my first rental property, I had no one to hold my hand and help guide me through the process.  I was on my own.

Why New Real Estate Investors Are Just Like Babies

You as the new real estate investor need to have your hand held, just like you had your hand held when you were a a baby.   When you were a baby, you had your hand held by older people who simply knew better than you.  Your hand was held in order to provide you with some guidance and with comfort.

For example, if you were crossing a very busy and dangerous street, your hand should have been held by an older person who was able to keep you by their side until there was a break in traffic and until the street was safe to cross…

Further, when you were a baby, if something startled you and you became scared, an older person would hold your hand in order to provide you with some comfort.

The Same Applies In The Real Estate Investing Game…

…If you are a new real estate investor, you need to have your hand held.

You need to have experienced real estate investors lead you through the path of least resistance.

You need to have someone there who can answer your questions and help eliminate your fears.

Most importantly, you need someone to hold your hand and lead you to the right real estate investment opportunities.

When you are a new real estate investor (or baby for that matter) you have no idea about right from wrong.  You have no idea about what real estate investment is right for you.  As a result, you need someone there, who is experienced and trustworthy who can hold your hand, and help guide you in the right direction and toward the right real estate investment opportunity.

If you never have anyone there who is guiding you towards the appropriate investment opportunities, chances are is that you could be spinning your wheels and never end up buying your first rental property.

The reason why I say this is because I encounter hundreds of new real estate investors who do this. They don’t have the right guidance, they spin their wheels and they never take action, and never buy their first rental property.

If you want to do it right, get someone who you can trust who can hold your hand and lead you to the right investment!

Happy Investing!

Neil Uttamsingh

ps: Remember, I am an experienced Real Estate Investor and Licensed Realtor.  I help people like you buy your first rental property.  If you are interested in buying 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, send me an email at NEIL@FIRSTRENTALPROPERTY.COM and I will help you get started in the right direction !!