0k, No Debt, and A Bachelors: What To Do?
04-01-2013, 10:13 PM
Alright I think I'm slightly younger than you and will be at this crossroads pretty soon, here's my plan.
First off I'd like to recommend in buying commercial real estate. Your young and already have 10k which may be enough to buy a property with 4-5 units which is a prime starter building. This would A) enable you to move out, B) Live rent free for as long as you want and C) Give you a steady option of Semi Location dependent Income for the rest of your life. If It's something people would want I can drop a data sheet on how to purchase your first Income Property at a young age and how to manage the properties as well.
10k Would probably be enough to get started here although you'd probably have to buy a fixer-upper, get a good rate on a mortgage and Find a grant or business loan which isn't that hard.
Secondly, after you've finished getting your property up and running take some time to travel. Hire a Superintendent to manage the building while your away and have him deposit the money into a business bank account the first of each month. I wouldn't recommend being away for more than 2 months at a time when your first starting out. Once you find a good super I wouldn't really worry that much but try and keep the travel light while your beginning.
Quote: (03-21-2013 05:06 AM)scotian Wrote:
-Go to Halifax and get a job in the seasonal tourist industry around the water front, rickshaw drivers do well there (money and pussy, my friends used to kill it doing that), bar tending, etc. Halifax is a great summer city.
-Get a random job in Montreal for a couple of months and enjoy the summer there, so much to do (festivals, events, parties, pussy) in Canada's best city.
Third, Halifax is DOPE in the summer. The Waterfront is one of the best daygame spots in the area and when the Buskers and other events go on in August the city really heats up in that area. I've been told it's somewhat hard to get jobs for students in the summer in Montreal? This may be false, but some friends of mine have been saying that they won't be able to live in Montreal in the Summer because of this fact.
All-in-all your young, you really don't have to rush into these decisions and Working in Alberta to raise cash for Investments and Travel may also be needed as well if you need more money for Real Estate etc.
Like everyone else is saying take advantage of the current incomes out western Canada while you can. Save money to set yourself in a good spot financially. Ill be out in Alberta this summer as well if I'm not staying in Halifax. Either one is a viable option and shoot me a message if you ever want to meet up.