Want to retire early and live your dreams? Today, we welcome our first guest who did so in her 30’s: Tracy Ma. Tracy is passionate about real estate investment and she’s into the FIRE movement. She shares with Mike her personal journey, as well as strategies and tricks to start investing in real estate, which turn out to be similar to a dividend growth investing strategy and buying process! You’ll also love how she approaches things in a different way than we commonly hear about.
Or follow her:
- What did Tracy’s life look like before she quit the engineering field? How work travels, tension headaches, and panic attacks made her rethink her lifestyle.
- How she managed to reach enough financial freedom to leave her engineering career and how she manages to be FIRE while her spouse is not.
- Tracy started real estate investment with joint ventures. While this avenue can be a good way to start, she shares the lessons learned and how silent partners are now her best options.
- Why did Tracy decide to focus on single units instead of plexes and what are the pros and cons of each? Which one is better for a higher cash flow?
- Her favorite three strategies to get the cash down for your first rental… or ways to avoid it!
- Why a growing city and neighborhood, an added-value potential, and the types of tenants that you can attract are her main criteria before buying a new property. Mike is able to make parallels with his dividend stock buying process.
- Should rising interest rates be a source of concern? How to make sure it doesn’t impact you as a real estate investor?
- Having a strong “WHY” is the key to success in real estate and how it will help you stay the course.
- Tracy’s top 4 stocks in her portfolio, including two Canadian dividend stocks!
During the episode, Tracy mentioned a book that has greatly inspired her: Money Master the Game by Tony Robbins.
She also suggested the tool Rentometer to determine how much to charge to your tenants.
Another way to invest in real estate is to look into REITs! Fight back the inflation, generate some good returns and earn generous dividends with this specialty in the REIT industry: Canadian Industrial REITs.
How about turning your mortgage into a tax-deductible debt? Borrowing to invest and then create wealth seems pretty smart, right? But it doesn’t come without risks. Fortunately, following these guidelines will help to make sure your plan doesn’t become a nightmare.
The Best Dividends to Your Inbox!
Download our Dividend Rock Star List now and do not miss out on the good stuff! Receive our Portfolio Workbook and weekly emails, including our latest podcast episode!
Follow Mike, The Dividend Guy, on:
If you have ideas for guests, topics for The Dividend Guy Blog podcast, or simply to say hello, then shoot me an email.
This podcast episode has been provided by Dividend Stocks Rock.