RE: Ladies of hive community contest # 264/Tranquility and goal
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I purposely bought a duplex type home more than 24 years ago. One part I can raise my kids in a stable home and the other I can rent out for Rental Income because it is impossible to afford without a working spouse.
I am now mortgage free, and afford to rent to another single mother who can't afford the current rental market prices.
I love passive income. You made a great financial decision.
I'm looking at another revenue property.
My Cash GICs pay only a pittance 1.8% interest so I put my emergency reserve cash into gold.
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The real estate business is undoubtedly one of the most profitable
The far over priced Vancouver Condo market is crashing at this time. I'll be looking for deals. It's got farther to go as prices dropped from $800k CAD down to $700k CAD for a typical 2 bedroom unit. Lots of 2021 and 2022 owners are going underwater this year.
I try to accumulate money without denying myself anything , I buy what I want. The price of apartments has increased, but I continue to accumulate. Compound interest helps me.