Feeling like an Imposter | Buying my first home at age 24 by Myself | Real Estate Investing Canada
ฝัง
- เผยแพร่เมื่อ 8 ก.ย. 2024
- So in this video, I'm going to talk about my most recent purchase. Just want to share some of my experiences going through this process. So one thing I want to share is that I portray myself, especially in these videos, especially when I talk to my clients as a sort of expert, when it comes to real estate investing, I've been an investor for the last seven years. I've gone through my fair share of horror stories.
So anyways, that being said I'm closing on a property this Friday and the reason I feel so excited about it, this is the first property that I'm buying without any partners. So I've been working on this for the last five years, first couple of years to get my real estate license. And then the last couple of years to actually build a real estate agent business, working with investors, creating an income, paying more taxes than I needed to finally be able to qualify for a mortgage on my own.
So I’m closing on this property, using my own credit, using my own savings. It's the first deal I'm buying without any investment partners and just something inside. I don't know. It's hard to explain this feeling, but I just feel like I did it. Like I went through these last five years and I have something to show for it. And this is in my eyes is something more substantial than making a certain amount of money or all of that. It's like I was able to get to this finish line where I can buy a property on my own. And yeah, there's just something amazing about it. Definitely it came with its own fears and it was a weird experience as someone who's helped dozens of investors purchase properties and sort of help them through the fears that they go through when they purchase a home.
I was really feeling this fear where my head was not worried. Like I calculated the numbers. I ran all the different scenarios of, is it going to cash flow? Is there different exit strategies? What can I do if something goes wrong? So all of that in my head was done, like over analyzed a hundred percent. I think I analyzed way too much.
I felt this unknown, this feeling that this was the first time that I'm purchasing a property where I'm a hundred percent on the hook. There's no partner to split the expenses with. If the roof goes, there is no partner to rely on. If there's a vacancy and we need to cover the mortgage for a month this was completely on me. And yeah, there was, there was definitely a lot of fear associated with it.
And, and going through this experience now coming close to the finish line of purchasing this home, there's, there's something that I feel that I haven't felt so far in my, in my journey, which is that I'm proud of myself, that I'm actually proud of where I am today. I'm a millennial I'm 24 years old. And definitely we get a bad name for most millennials in terms of not working hard enough, not saving our money, not being diligent. Either living with our parents or not living with our parents and spending too much money on rent, on avocado toast and everything else that we spend our money on.
It comes with its own challenges, we're trying to get started in a real estate market that's in general expensive. I bought my house in Welland, so it's an hour and a half away from Toronto. And it still took me this amount of time. And, and my income to be very Frank is actually higher than I would say most, most people my age. And it's because, you know, I'm paid on commission, I've put a lot of work into developing client relationships and that's paid off these last few years, but it's Anyways, the point I'm trying to get to, there is a light at the end of the tunnel. And you know, this is only the beginning, but I want to really stay in this moment and really appreciate it.
I'm super excited buying this house at 24 years old. And I’m finally able to buy a house by myself with my own credit, with my own down payment. I really want to thank all of the members of my team, my mortgage agent, my home inspector, everyone who's helped me create the income that I needed to be able to qualify and actually helped me on this purchase. It wasn't easy, I got qualified for one mortgage that I didn't like. And then I firmed up the deal without having the mortgage approved for this purchase that I wanted to get. And then we had to like switch the deal around to get that approved. It's a story for another time, but super pumped, super excited. Closing on this first deal, this new chapter of actually feeling like I'm a real estate investor. So hope you enjoyed this video. Hope I didn't go too far off the cliff. And if I did, you know, let me know in the comments below until next time all the best.
Great achievement, you did it👍
Good video bruh !
Thank you Jesse!
Congratulations, its a lovely feeling when you own it all by yourself..I wish you a lot more success in the future
Thanks! Yes it sure felt good 🙂👌
I will be interested to know the kind of property you bought and if its a turn key or are you going to do some strategic renos on it..always learning from you.Thanks
Yes will definitely go into it in further videos 👍