Quote:
Originally Posted by Table 5
Maybe cause I slept on a sleeping bag in an empty room for a good chunk of my early 20's, but anyone who can qualify for a loan for 4 houses, and can pay the down payment for them, qualifies as "having money to begin with".
Then again there are some enterprising kids out there who are totally self-sufficient.
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Don't assume without asking. I spend all my own money on my properties, that I've earned from working. I also worked a second job in my early 20's to get a head start. Like I said earlier I had an RRSP since I was 18, so I had backup of cash there, I built equity in my house by paying down the mortgage, as soon as I had the equity I pulled it out and bought 4 houses in Regina, couldn't afford Calgary.
I am thinking of selling my 4 houses in Regina and buying an 8 - 12 unit type apartment building in Toronto. One might ask why TO, well a I want to stay in Canada but I don't want to be in a boom or bust type area, plus Toronto is full of apartment renters you can almost only build up in TO now, not out.