When we bought an investment property for the fist time after moving to the country back in 2005, we did not know that real estate investment was a thing — we did not know what a ‘mortgage’ was. I worked 9 to 5 like the majority of Canadians and, even then, could not save a dime. Our own personal residence ownership compiled with our active lifestyle which burned all of our income, leaving us without the chance to save for future retirement.
Fast forward 10 years and our property had appreciated by 244%! When we sold it, we felt like we just won the lottery. We had not done anything except rent the property out to two families in Toronto’s North York area for 10 years. We realized that it would not have been possible to save that much money any other way and that investing in real estate is what we should be focusing on from that point.
I spent countless hours educating myself and meeting successful investors to both share experiences and learn from them. I joined REIN Canada in 2015 and earned the Top Investor award in 2017. My best advice after my immersion in the industry is as follows: the secret of investing in Real Estate is to understand its power and its 7 Profit Centers.