I joined Rock Star after seeing how the returns from our own home outstripped any other investment we had made. We capitalized on our property appreciation to move from a modest semi to a 2-story home on a large lot almost as a “straight trade”. We watched as the housing bubble burst in the US in 2008 while there was barely a blip in Canada and home prices continued to climb. 

We took the plunge into real estate investing when our older son went away to university. We bought a 3+1 bedroom detached house for him and his friends to live in during the next 5 years of post-secondary studies. Purchasing this house has meant that there was no ongoing expense for student housing. The other students’ rent payments helped to pay for our son’s accommodations, and we were able to provide a nicer home for them than typical student housing.

My brother, Ed, joined me at Your Life. Your Terms. Events for several years and decided that he wanted to invest in real estate as well. So, we purchased a semi-detached 3-bedroom home together. It was owned by a lovely grandmother for 30+ years who looked after it meticulously. This home has taught us the process of selecting tenants for a longer-term rental, including advertising, showing, taking applications, and running credit checks. Filling the property ourselves lets us get to know the prospective tenants and feel comfortable that they will take care of the home. In future, we plan to renovate the basement between tenants to add a second suite. 

My third investment property is a pre-construction 1-bedroom condo in Georgetown, purchased with my brother-in-law and family. Our two children, now in their 20’s, are partners in this investment. We hope that they learn and benefit from this experience as they begin their real estate journeys. 

Real estate has helped our family to “Live Life on Our Terms” which has allowed me the flexibility to run my own consulting business, help our kids, travel the world, and be an active Rotary service club member giving back to our community. Since I don’t have a pension, real estate helps to fulfill the goal of preparing for retirement, without over-extending ourselves financially or relying on government programs. Our coach has been a wonderful support in making this real estate journey possible. And it’s not over yet! 

Try something new. Don’t be afraid to try different types of real estate investment. Each can help you to learn, diversify and build wealth. 

Trust your gut. Selecting tenants involves personality and “fit” as well as credit scores. 

Give back. We are very fortunate to have the means to invest in real estate in Ontario during this changing and challenging time. Remember to pay it forward to others!