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The property investment queen 😉

, Michell Smith
My mail woman is my hero. Well, actually it was my mom's mail woman from my childhood in North York, Ontario.
She owned so much real estate that she had gradually acquired over many years. As time went on, she went and purchased commercial units (one of them has 16 units!).
And I can't decide my favourite part of this story: that she managed to pay off all of the properties OR that she was still delivering my mom's mail after kicking butt in the 90's and could have been retired with her dream investment portfolio.
Putting my mortgage agent cap on, I think I most admire her discipline around paying off the properties. Once I started doing mortgages, we'd talk about her renewing one of the properties and the next time I spoke to her, she'd be like "oh I just paid that one off". I couldn't even be mad that she didn't renew with me!
I was cheering her on as she acquired more and more properties while also finding ways to eliminate her debt. She had a portfolio that was worth over 5 million dollars (25 years ago - worth over 15 million today) and no debt!
She eliminates the most common fears around real estate investing:
  • Getting started in real estate is too hard for most people
  • First time investors need a lot of cash up front
  • Real estate investors are always in debt and financially overextended
Here are a few proven ways to get started with property investing.
  • You may be able to start off small with approximately 5 to 10% downpayment. If you don't have a lot of cash sitting around, THIS is the way to get going.
  • If you have approximately 20% down, then you can probably go a little bigger. This option may be preferable because you may not have to pay the mortgage insurance.
  • Cash out refinance for your down payment: if you have a property that has a lot of equity, consider pulling money out to use for a down payment on an investment property. That equity is just sitting there and not doing much for you.
And of course I wouldn't recommend anything that I haven't tried myself. With my mom's mail woman as inspiration, the first investment property I bought was a condo at Bay and College. After the property appreciated, I eventually refinanced out and bought more property. Um..so yeah sometimes it's ok to get high on your own supply 🙂
Every time you see a mail person, remember this story as inspiration. It's never too late to get started, and investing in real estate doesn't have to be scary. We'd love to help!
Reach out if you need any advice regarding real estate or mortgages.
Ani
416.271.6557
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