Quote:
Originally Posted by Muta
How do you just 'buy' 4 houses? It's not like you're going to the convenience store or anything to pick something up, these are houses... investments. I barely qualified for one, let alone four.
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Easy, as Donald Trump says you have to spend money to make money. Instead of blowing my cash in my early 20's I bought a house at a good price. I paid more than I could afford at the time which was a stretch off the salary I was making back then. Then I started paying off the mortgage faster than normal, got my house re-appraised and took the equity out of my house and put a downpayment on houses in Regina before it boomed there.
I could have bought a lexus or something like that instead of driving my crapbox from high school back then and rent like some of my other friends did but I started investing my money, first investment was buying my house. It's a tax free investment if you think about it. I also started an RRSP when I was in college, I started at 18 throwing in $50 a month, its not hard. Its just living comfortably within your means and not getting suckered into living on credit and buying every nice new thing you see.