When I first started investing in real estate back in 2006, I was much younger, I thought I wanted to buy as many investment properties as I could. As I got older, little bit wiser, got married, had two kids, and running my own business, I realized what I wanted is not the number of properties, but it's financial freedom. Reverse engineering the financial freedom goal that I wanted to reach, I realized that I need to invest in two investment properties in the city of Toronto to achieve where I want to go.

Let me give you the numbers. Let's say you need income for 20 years post-retirement, at $10,000 a month which is equivalent to $120,000 a year, and for 20 years, that is $2.4 million. Now, if you work backwards, if you buy two duplexes in the city of Toronto, in today's marketplace, in 2019, at $1.2 million, and let's say they do not appreciate for the next 25 years, you will have 2 paid off investment properties worth $2.4 million. That’s $2.4 million assets available for you at retirement to fund those 20 years.

Keep in mind, if you have RRSPs or a company pension plan and/or old age security (OAS) and CPP from the government, the number of investment properties could be down to one. This will contribute significantly to your retirement lifestyle, as well as create longterm wealth for yourself and your family.

If you're looking to invest in real estate, please feel free to reach out. I'd be more than happy to help.

Until next time, happy investing!