Imagine in exactly 150 years from now, it is the year 2169, and people have been genetically engineered to stop aging after they turn 25, after which a 1 year countdown on their forearm begins. When it hits zero, the person “times out” and they die instantly. Furthermore, people can transfer time between each other with a special mutual twist of the arm, so then time has become the official currency in which people with a lot of years left can exchange their time for goods and services from others. Yes, this is the sci-fi film called “In Time” featuring Justin Timberlake and Amanda Seyfried. If you haven’t watched the film, check it out on Netflix, it’s one of my favourite movies. Not for the acting or actors or anything like that, it’s the concept that time is the universal currency that we trade on.
Often times, when my day gets so busy and every single minute has been accounted for, I feel like I’m also living in this dystopian future. I feel as if I’m trading my time for dollars, and that every free minute that I have on days off are extremely valuable. Do you ever feel like you are living this way?
Ever wonder how people can afford these crazy prices?
Likely they are trade-up buyers. There's no way that this can be someone's first home. Use equity to grow in to more equity. How? Just get started. Start building equity through real estate. Here are 9 ways you can get started.
How to fast track or catch up to retirement if you haven’t started planning for it yet.
Have you thought about how and when you are going to retire? Statistics Canada says that in 2018, the average age of all retirees is 63.8 years old. Do you want to wait that long, or do you even think you can make it?
32% of Canadians between the ages of 45 and 64 have nothing saved for retirement. 53% of Canadians say they don’t actually know if they are saving enough. And for many people, the amount of money required to fund their lives for approximately 30 years of retirement is a secondary consideration altogether.
There was a CBC documentary made in 2013 but just got released on YouTube a couple of days ago. It has gone viral, with over 53 thousand views so far and counting. It’s called “Towers of trouble” with a sub caption: “Toronto’s condo market has no rule book”. The documentary is saying that we should be afraid condos (known as HOA’s for those of you listening in the US) because of falling glass and that it’s a scam to buy poorly-built condos.
So today’s podcast topic is: is it a scam to buy a condo or not?
To succeed at growing your wealth through real estate investing, you have to have a steady tenant base paying your mortgage. The whole idea behind investment properties is to have someone paying down the mortgage as your asset is growing in value. Keeping your tenants happy is imperative to the success of your landlord/tenant relationship. Landlords who are effective at managing tenants will rarely have a problem, and essentially have a business partner that is footing a large part of the capital to keep the whole operation functional and will help you build your portfolio.
If you already have a few condo or freehold investments and you're wondering what to buy next between the two, either condo or freehold, you want to grow your portfolio or maybe you're just starting out and you want to look in getting into the market. Either way, This podcast is about condo or freehold investing. Which one is better?