#014 RSIRE Owning 3 Properties At 28 Years Old

#014 RSIRE Owning 3 Properties At 28 Years Old

Michael Durham is a Durham Ontario-based landscaper, that truly enjoys his work. It brings job satisfaction, joy at helping customers enjoy THEIR properties even more, and a salary.

While this is great, Michael always had an eye to the future, and retirement. Perhaps Michael didn’t want to depend on the Canada Pension Plan and RRSPs, so he started investing in real estate.

For Michael, the key was multi family homes - where if you lose a tenant, the property is still making money. He also believes in refreshing properties between tenants, to make it a better place, and perhaps it might come with a small rent increase to cover the upgrades. Now he owns 3 properties at age 29.

His goal is to have a few more properties, that will both cash flow to pay down the mortgages, AND appreciate in value over time.

What did he learn? Would he do it the same way again? What advice does Michael have for others considering the process?

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