In this solo episode, I dive into how to save for and purchase your first rental property, combining insights from a past episode featuring financial expert Justin Peters with a personal touch on the latest updates in the Canadian real estate market. We explore practical strategies, including budgeting, side hustles, and house hacking, to help you navigate the current housing landscape. With the government's recent introduction of 30-year amortizations for first-time buyers on new builds, there’s never been a better time to get started in real estate.

What You’ll Learn in This Show:

1. The importance of budgeting and tracking expenses to save for a down payment.
2. How side hustles can accelerate your savings and boost income.
3. An introduction to house hacking and how it can cover your mortgage payments.
4. The benefits of the 5% down payment option for first-time homebuyers.
5. How to take advantage of 30-year amortization for new builds to reduce monthly mortgage payments.
6. The power of combining multiple strategies to scale your real estate portfolio.

Resources:

Garret Wong

Justin Peters

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