Worried about money? Buy yourself a part time business!!

Real Estate Agent with City Brokerage, Hamilton

So, suddenly, it is no longer inappropriate to publicly voice your concerns about being overtaxed, overworked and worried about retirement.


Maybe 2008 was the “awakening” for a lot of people.


Talking to clients, acquaintances and friends most are unhappy about being in debt and overextended and are not embarrassed to voice it any longer.


Re-fi is an option of course, but if you’re rolling your debts into your mortgage for the third time or grovelling for a consolidation loan, YOU”VE GOT TO STOP!!!!


Call me debtors anonymousJ


Your motto or credo should be “if I can’t pay for it cash, I don’t need it”


Debt should be reserved only for something that will make you money.


Drum roll;       this is where I come in.


Pension funds worldwide are wobbling and it’s time to put your future in your own hands.


Think of buying yourself a small part time job.



Buying a small investment property, such as a triplex, duplex or single family home could be a sure and steady way to secure and augment your pension income or creating an enforced saving plan.


Your choice of purchase will depend on your capabilities;

A single family home will give you a single tenant to deal with but covering the cost of mortgage and property taxes with the incoming rent will be very close, you may have to occasionally add to the fund.

For example, you could buy a little, compact home for about 150,000.

The mortgage payment will be about eight e hundred dollars, plus two hundred for property taxes, plus one hundred for house insurance totalling $1,100.

These calculations are based on minimum down payments but you may need to supplement a hundred bucks every month.


The upside is that a single family home is easier to manage, the down side is that if your tenant leaves and you have a vacancy, you will feel it in your wallet. 



You could opt for a triplex. You now have three tenants to deal with, they are more mobile and can move easier than a large family in a single family home, but if you have a vacancy, you still have two tenants paying your mortgage.


If you approach this from a calm, cool perspective, you could, in theory, have a house paid off in 15-20 years

 At that time you would have the equity  AND a net  income stream.


If your arguments are that you can save $150,000 in that time on your own, my suggestion is to;

a/ review your saving history to date, if you’re a saver, perhaps you can, if you’ve not saved any money, than this plan can really work for you

 b/go for both. Establish savings plan and start your investment strategy.


A bolder choice would be a six or eight unit compact building. You can buy something in this league for between $350k-$600K or upwards of $50,000 per unit.

The investment is greater, yet the risk is smaller as you will always have rents coming in. Maintenance is also reasonable, as despite the larger investment, you have one roof, one furnace, one back yard, one place to pick up rents at, etc.

Buying a long term investment is a cool, unemotional strategy and the only things to consider are



3/the numbers

4profile of future tenants, analysis


If you’re in your thirties or older, and have just enough to cover your expenses when the next batch of bills rolls around, it’s time to do something about it.


Get yourself a part time job as a land lord and start working on your financial security.


Believe me; no one else is giving you and your future a second thought.





Posted by

                B  i  a  n  c a       M  a   r  i  j  a  n     

 Broker/Owner of City Brokerage



bianca@citybrokerage.ca     289 389 2323  







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Sara Garden
Rocky Mountain Home Staging - Boulder, CO
MBA, HSE, HSR, APSD, Home Stager

Excellent post and so, so true. Diversifying beyond our IRAs or 401k or investment portfolio into something tangible like real estate is an excellent way to hedge against future uncertainty.

Nov 05, 2011 03:48 AM #1
Bianca Marijan
City Brokerage, Hamilton - Hamilton, ON
Broker Owner of Independent Real Estate Brokerage

Thank you, I've just started blogging and i'm kind of clumsy still:)) 

Most people here in Canada are concerned about their retirement years.  I think the feeling is global, really.

 Ultimately, regardless of how  things get, we all have to live somewhere and I've always considered real estate a "sure thing" long term investment.

Nov 14, 2011 07:49 AM #2
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Bianca Marijan

Broker Owner of Independent Real Estate Brokerage
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