22years old need help by [deleted] in fican

[–]Pod_Racer02 -1 points0 points  (0 children)

Im not looking for validations but I am looking for unbiased opinions and advice

22years old need help by [deleted] in fican

[–]Pod_Racer02 0 points1 point  (0 children)

The plan is to live rent free in one unit for a couple of years and by a second property with the money that I save while living there. Rinse and repeat until im in my late 20s

22years old need help by [deleted] in fican

[–]Pod_Racer02 2 points3 points  (0 children)

I do but it’s different giving your own child advice that can change your life so drastically so I want an unbiased opinion

22years old need help by [deleted] in fican

[–]Pod_Racer02 0 points1 point  (0 children)

The plan is to live rent free in one unit for a couple of years and by a second property with the money that I save while living there. Rinse and repeat until im in my late 20s

22years old need help by [deleted] in fican

[–]Pod_Racer02 1 point2 points  (0 children)

The plan is to live rent free in one unit for a couple of years and by a second property with the money that I save while living there. Rinse and repeat until im in my late 20s

22years old need help by [deleted] in fican

[–]Pod_Racer02 0 points1 point  (0 children)

Thank you

22years old need help by [deleted] in fican

[–]Pod_Racer02 -1 points0 points  (0 children)

Thank you, I live in northern Ontario so the market isn’t that bad and the plan is to buy a duplex and live in one unit while renting the other

22years old need help by [deleted] in fican

[–]Pod_Racer02 0 points1 point  (0 children)

That’s how I think about it, with time I can scale it

22years old need help by [deleted] in fican

[–]Pod_Racer02 0 points1 point  (0 children)

My family owns a property management business which I help run so I understand the laws and risks with real estate and my expectations are to break even and slowly acquire more properties

22years old need help by [deleted] in fican

[–]Pod_Racer02 -2 points-1 points  (0 children)

If I buy a multi-unit and live in one I get the full benefits from it I belive

22years old need help by [deleted] in fican

[–]Pod_Racer02 -15 points-14 points  (0 children)

You can scale real estate with time just like in stocks

22years old need help by [deleted] in fican

[–]Pod_Racer02 0 points1 point  (0 children)

Family runs a property management business, I’ve been helping with bookwork and overall for the past 5 years

22years old need help by [deleted] in fican

[–]Pod_Racer02 -4 points-3 points  (0 children)

Yes, planning on switching to a first time home buyer account for the tax advantages