Happy New Year! I thought I'd start off the new year with a positive post from a show we watched yesterday on TV. Pour yourself a mug of refreshing Arabica so you'll feel more perky today, eh. Help yourself to a New Year's virtual treat as well. Making any resolutions this year? Most people resolve to drop some pounds so if that's that's case, better only have one.
The story we saw on the Marilyn Dennis Show was about a student in Waterloo, Ontario - Scott McGillvray. In 2001, he bought the house pictured above. It is in Guelph - about 20 minutes from Kitchener-Waterloo.
Scott bought the house for $145,000. Today it is worth $350,000. Scott finished the basement in 2001. He lived in the basement
apartment for 8 years and rented out the upstairs for $1275/month.
The rent paid his mortgage and taxes and he lived rent-free. The next year he bought another house - then two more - them six more. He rents them all out and the rents pay the mortgage, taxes, maintenance and sundry other carrying charges.
Scott says his family has always been frugal. He learned that from his accountant father. With that and his ability to find good tenants for his houses, Scott is already a millionaire. He is a trained carpenter - excellent skills for a multi-property owner, eh! He now has his own show on the HGTV property network
Not bad for a young Canuck, eh? Scott is 34, married with one daughter.
See ya, eh!
Bob
Ten years later
0 comments:
Post a Comment