When you say financial independence, I assume you mean that you make enough or have enough money to never work again? How much money do you need per year to survive?

Hard to take advice from people that low key get subsidized by their parents or have a trust fund. Basically ends up being OP's story

pretty much.

honestly i think If i can make a least 35k a year i'll be content (this is mainly from my RE investments, stocks will be left untouched). I more than likely would work, but it would be more so just enough for me to keep my license to work and maintain competency.
the plan is to live off the rental income while letting the stocks grow until I want to crystallize my investment maybe 20 years from now), I want to have control of how quickly my wealth grows because I hope it will help out with taxation purposes.
I think you forgot to add the part where I gave my parents a interest free loan first when i was helping them pay off a business which they sold at a profit. (didn't once ask for that money back)

I don't have to pay them back but i will out of principle of being a good son

Depends on the area but 6 figure jobs for ambitious kids in Alberta are very common.

Basically, if you want to make 6 figs, you can. Might not be doing what you want or living where you want, but the option is there.

that being said its a damn shame how many high income earners actually have no clue how much value is present within their time alone. meaning they will spend money on everything but investments because they "don't know how to get started"(cop out for lacking initiative to utilize time as their work horse)

what if i am age 32 and reading this? tour over for me?

not really, kinda depends on your circumstance, and you desire to catch up.

i know this is cheesy but its 100% turth and that is “The best time to plant a tree was 20 years ago. The second best time is now

doing what? even experienced oil rig workers only make 70k (b4 tax). maybe if you can suck ass into management you might get lucky enough to make 100k. good luck fighting the other sucker fish for that job.

strong cope

What kind of real estate? How many people are renting from your property? Is it single family home? That's usually risky

trailer homes being rented out to professional who work in the same building as me.

the ROI is sickening.

my most recent RE purchase cost $45k after taxes, and i am making $750 a month on rentals to a professional cohort from my work.

That's awesome. Forgot about trailer homes.

I think alot of people forget about trailer homes, also the same goes with garage homes(something i am seriously contemplating building)

In on thread. I intentionally started working towards financial independence A couple years ago. My goal is to be at that point within 10 years.


So in for inspiration.

Currently working full time, side hustle for 8 years (see sig), small time passive income, and a rental property, and started recently focusing on long-term stocks (started with broad based index)

According to you, you only made $9k passive last year, so how will you be FI in 3 years?

Das it brah! I respect the hustle and mire it fo sho, glad to hear you be persevering and being patient, you been in this for a while now, surely you are getting close. How surreal does it feel brah?

I know for me it still doesn't seem real as ive been wanting this day to come for the last 6 years, just seems like time went by really quick.

Hope the journey is serving you well.

I'm investing into real estate.

Buying my first rental property next year.

It will be a single family home. I bought a house for myself last year and I'm living in it as I fix it up. In a few years I'll refinance it into a conventional loan and turn it into a rental. Hoping to have a good amount of equity in it to where I won't have much cash coming out of my pocket to get the refi done.

In the mean time I plan to buy at least 1 single family home per year or a duplex if in my price range. Eventually I want to get to the point where I can buy 4-5 properties a year and flip 3-4 houses per year. I just want to keep growing and growing.

Long term goal is to own 100 rental properties single, multi, etc...and flip 7-8 houses a year.


One of my regrets...I wish I would of had this mindset 10 years ago. A guy I went to school started off 10 years ago. Year 5 he had 100 rentals and he flips 8-10 houses a year. He's set for life. I use to work for him and I wish I would of stayed on track and followed his advice/mindset.

But instead I went after my childhood dream of becoming a police officer and ignored everything else. I make chit money, can't keep a stable relationship due to the hours I work, no advancements with the tiny department I work for. It sucks....

I also have a roth ira I put 100.00 into every month and usually what ever I get back in taxes (which isn't much) I put that into the IRA as well.


I haven't dipped into the stock market like OP. I can't get too many irons in the fire. BUT someday I plan to dip into the stock market as well.




speaking of mobile homes. My buddy owns a mobile home park in town. 38 units. He had someone up and leave one of them. He does not want to own the mobile homes. I ended up flipping the mobile home for him. Brand new flooring front to back, paint, trim etc....

He had 3,000 in material, I charged him 2,000 to do the work (took a week) and he just sold the trailer for 5,000 cash just to get away from owning a mobile home. He charges 220.00 a month for lot rent. Which is kinda high in this area. He keeps telling me to invest into a mobile home park someday. I may. we shall see.

I just hope within 10-12 years I have financial freedom to where I can get away from the rat race...

damn I hope other younger miscers are reading posts like this and take it very serious.

GJDM for not calling quits on pursuing your RE ventures.
you've all ready done the most important part which is pulling the trigger to start. Hope your path becomes more linear and clearer, which im sure it will.

100 properties and 8 flips a year is very ambitious...may i ask what the end goal is??

cheers breh
I've heard of the term before (FIRE) but i don't know what it is.

and that is solid bro grats! the snowball is growing

and i got into RE by accident, I was originally renting a place for really cheap cause i had roommates, but the landlord sold the house and I ended up responding to the situation by deciding to own my own place as getting kicked out sucks especially if you are some what settled.

the problem with my desire to own was that there wasn't much for RE in my community, not very developed and not many people have the money to build a new home, and all the people who do have money are nomadic workers and are very scared to build a home in the tundra.

So I knew that RE income investing was gold here, as i could set up a cheap home for rent and make bank from it due to the demand. all about finding the way the people in your market act in nature and figuring out how to profit from it.

So if I have $10,000 to invest today,what are my first steps?

Ok, I have about 30k sitting cold turkey in bank, 20k in index funds... op pm me

I’m at $1k a month in passive income via dividends and rental income

well i relocated to ***** lately "tax free salary" anyways i had a meeting with a tier 1 financial firm in Beirut/Lebanon , apparently the banks there are giving 15% interest on 5 year term for deposited amounts. thinking of throwing a 100k.... maturity on the interest is 1 month after deposit

OP’s thoughts on investing in superannuation?

Can you manage a self directed brokerage account through a Roth IRA(the tax sheltered account?)

I'd work on maxxing out the tax sheltered account first(in Canada thats is known as a TFSA)


so step 1.
Create a self directed brokerage account through a tax free account


step 2.

decide if you are an index investor or a dividend growth investor (both very effective set and forget method of getting market gains and starting the cycle of compound interest)exponential if true!

if that a retirement plan from the employer I personally don't opt for them. (im sure others love it though)
my reason is because i like to have control of what investments i buy and limit as many hidden fees as possible

That's standard in 3rd world countries. My father has done as much in the Dominican Republic, 16%, I believe he put in $150k. It's very volatile.

OP never answered my question.

definitely , if it wasnt that much of a turbulent market they wouldnt have issued such high interest... i mean higher risk for a higher return or 0 bank account. but again if things go right youll break even in 6 and half years

learn what the best investors do like charlie munger, warren buffett, mohnish pabri, guy spier etc

Major lol . Needed that , thanks

Thanks man!

I hope younger and older read my post and take it serious and all of your posts.

The time to start is NOW. ALL of you. START NOW. Do research. Figure it out....and never give up. Stop living day to day and pay check to pay check. Build an empire for yourself, your family, and leave a legacy for your kids to build off of.



My end goal is 100 rental properties, and to flip 8 houses per year. I will say this. When I reach that goal I will step up rentals to 125...and then 150...and then 200.


I've even thought about new construction. There's so much flat land around here and builders are buying up the land and turning the land into subdivision. So if I could build a team of workers (VERY good workers, which I can) Building new construction homes to sell would be amazing. I've talked to a local builder, his son is a police officer as well. He started out just like I am starting out. All he does is new construction. He averages 30-40K per house all said and done. He builds 12 per year. Well, his workers do. he spends most of his time in the office or traveling with his family.
I will just keep growing and growing. I never want to stop growing.

I eventually want to invest into the stock market as well. I just need to learn more about it.

didn't think i needed to spell it out for you. it's called rental income, you know the currency a landlord collects from tenants.

I plan to have 4 rental properties provide me the means to live without needing to work full time.

maybe if you knew how to play your own RE markets you would know what i am talking about.damn that's pretty sick, I am friends with a couple different contractors and the ones that have been doing it for a long time say its nothing but clock work, when building a home and following codes and by laws there is a lot going on, so those that make a killing off it, more than likely know the ins and outs like the back of their hand, and its that knowledge and connections over time that aide to your growth i imagine?


truth bomb @ the bolded