Secure your future with sound investing
 

Fuck stocks, bonds GICS, retirement funds and all the other bullshit.

Real estate is the key.

Renting is a waste of money, your throwing money down the toilet. If you can't afford much buy a cheap condo (under 100K)

Pay off ASAP.
When you get it paid off, put the money you'd normally spend on mortgage into savings for 1 year.

When the year is up, use that money as down payment and buy a second house/condo. Rent it out.
Use that rent money + the monthly amount you can afford to pay off the second mortage.

That second house/condo will be paid off alot quicker, now buy a third.
With a third place you have 2 renter incomes + your own money, you can pay it off fast. Buy a forth etc...

This is no get rich quick scheme, it takes a long time but its a STABLE investment.
Houses dip in value but still always go up over time.

This is my plan for the future anyways, I'm on step 1 - paying off FIRST condo.

thanks carlton...


:thumbsup :winkwink:

sounds cool, best of luck

There is a lot of work involved with real estate. You assume people have this kind of time to invest in their investments.

:1orglaugh You had better worry about retirement funds.

I agree it would be alot easier to spend 30 minutes with a broker once and awhile, then do what I propose.

Paying off your first investment asap is against the entire idea of borrowing money at low interest in order to invest it somewhere else. Save up some of that money and buy the 2nd and 3rd house/condos, using the revenue from the rent of the 2nd/3rd houses/condos to help pay off your 1st house's mortgage. Sit back and watch your 3 places bring you recurring money and appreciate in value.

What he said :thumbsup

I already have 3 properties, 2 are rented out and paying for themselves plus the one I live in.

What step am I now? :Graucho

DH