Investing for long term

[Millions]

I am 25 years old. Still a part time student worming fulltime but still want to travel etc before making the career

I have a condo and a house I bougt as investments but due to negative cash flow on the condo I`m looking to sell

the house is fin with the rates so low but I feel over leveraged should they hit 6%

aside from that. I have a few grand in savings and a couple grand in suncor stocks doing some drip investing

I have no rrsp just yet

what are the thoughts on routes to take for safe but decent returns

houses
rrsp
stocks
tax free savings

Etc etc

thanks all in advance for th input

 

[invst4profit]

Sell the condo and the house, rent an affordable apartment and put your money in RRSPs and tax free investment. Find a good investment advisor to assist with any addition investments.
When you are finished traveling and ready to settle down and start a career reassess your future.

 

[gwasser]

QUOTE (Millions @ Mar 11 2010, 02:28 PM) I am 25 years old. Still a part time student worming fulltime but still want to travel etc before making the career

I have a condo and a house I bougt as investments but due to negative cash flow on the condo I`m looking to sell

the house is fin with the rates so low but I feel over leveraged should they hit 6%

aside from that. I have a few grand in savings and a couple grand in suncor stocks doing some drip investing

I have no rrsp just yet

what are the thoughts on routes to take for safe but decent returns

houses
rrsp
stocks
tax free savings

Etc etc

thanks all in advance for th input

Do you have negative cashflow on both the house and the condo?

 

[GaryMcGowan]

Matt,
If you haven`t read the Four Hour Work Week by Tim Ferris pick it up.
It has some pretty neat ideas and he offers another way of thinking, "New Rich" we may not need all the millions that we thought we needed to do the things we really want to do in life. Some of his ideas are way out there but it really gets you thinking. He loves travelling and has found many ways to do it without holding a full time job to fund it.

 

[Stephen1151]

[quote name=`Millions` date=`Mar 11 2010, 02:28 PM` post=`81250`]
I am 25 years old. Still a part time student worming fulltime but still want to travel etc before making the career

I have a condo and a house I bougt as investments but due to negative cash flow on the condo I`m looking to sell

the house is fin with the rates so low but I feel over leveraged should they hit 6%

aside from that. I have a few grand in savings and a couple grand in suncor stocks doing some drip investing

I have no rrsp just yet

what are the thoughts on routes to take for safe but decent returns

houses
rrsp
stocks





sell the house or the condo and use the money to pay the other property down. Let a renter pay your mortgage while you travel. Depending where you live (a good geographic area where development is limited) real estate will do better than mutual funds over the long term.

 

[housingrental]

This

QUOTE (invst4profit @ Mar 11 2010, 06:30 PM) Sell the condo and the house, rent an affordable apartment and put your money in RRSPs and tax free investment. Find a good investment advisor to assist with any addition investments.
When you are finished traveling and ready to settle down and start a career reassess your future.

 

[Millions]

QUOTE (housingrental @ Mar 12 2010, 10:29 AM) This


Hey everyone. Thanks for all the replies. To answer all the questions.

First, the only one with negative cash flow is the condo which is fixed at 4.2%. It is losing around $350 to $400 currently until rents go up a little.
The house is cashflowing about $700 fully rented at vaiable of 2.25%.

Second. I have both listd but unfortuantely with the condo. I would lose money to sell. Even after 3 years t is not worth what I owe. However. I am trying the rent to own or assumable route with low down. No such luck yet

the house I also would need a little more than it`s worth to break even. I had an offer the other day of what I paid but after cmhc and realtors fees. I would be out $20k. So I miswell hold and let the low interest rates work until I can come close to breaking even.

As for the four hour work week. Hah yea I acually have 70 copies of his book I`m selling at 40% below cover. If you know anyone I met him 2 weeks ago in San Francisco at a party. Part of the reason I`d like to sell so that I can be more mobile. I find real estate is like having kids. Holds you back a lot !!

Can`t wait for more replies on the situation

thanks guys!

 

[cmattric]

Matthew,

If your both properties are negative cash flowing, sell them with Rent to own. It is a proven life-saving strategy. Check-out Mark`s Rent to Own investing book. You will find a lot of useful information.

Mehmet