honesty_counts asked:


I just watched a television program here in Canada and they explained that the housing boom is the best way to build wealth. They said that Canada produces 180,000 to 190,000 new families every year and that this will always keep the housing market healthy. The ‘expert’ explained that it is easy to buy one or 2 houses every year and that a 20 year old should own 20 houses, a 30 year old should have 30 houses and a 40 year old should have 40 houses. Finally, when you retire at 65, you will have 65 rental houses and you will be RICH, RICH, RICH, and you can pass on your dynasty to your children. This will provide your children with the best future possible.
I rent a 4 bedroom / 3 bathroom house for $1,000 and I was thinking that perhaps I should buy the house down the street for $1,500 per month and then rent out half of it. Then 3 months later I will buy another house and rent all of it out, then do the same every 3 months until I finally have 44 houses ( I’m 44).
Is this wise?
So what do you think?

Is this the way to get rich?

I don’t want to be poor forever, just living and earning a living wage. I want my kids to have a good future and by owning tons of investment homes I finally see the opportunity to be able to retire comfortably.

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