The goal of many people is financial stability throughout life. As one company used to call it, freedom 55! A huge goal most people have is to live without the concern for day to day living expenses.
There are many ways to achieve financial independence. Most of these ways however do require a unique skills set that many people do not have. Investing in real estate is not rocket science! In large centers like the GTA almost a no brainer! A guaranteed slam dunk!
What you do need is an ability to deal with tenants, an ability to cope with a lot of debt and a patience to just let the markets work in your favor.
I have been involved in rental properties since the early 80's.
My first investment was a duplex in Alderwood that I purchased for just over $100,000.00. This particular property had an existing mortgage that I assumed. I put very little into the property to buy it and the rental income carried all the costs. Looking back I believe my out of pocket on this property was in the range of $20,000.00.
Within 3 years I sold this property for over $250,000.00 and purchased 4 detached houses with the proceeds. Today this duplex is worth about $1,300,000.00 and the 4 detached houses, that I still own are worth about $1,000,000.00 each. Totaling $4,000,000.00!!! Not bad for an out of pocket investment of about $20,000.00!!!
There are many ways to make a lot more money than this and for a lot less time and out of pocket investment. Do you have the know how to do it?
Investing in real estate is the easiest way I know of achieving financial security for the average person.