You do not need income to invest in Property.

Every book i've read has suggested you can borrow everything and just do it via foreclosure homes.

Hello Everyone!

First thank you for the big welcome!

It has been quiet a week, I read everyone's responses here and I've made some progress.

First of All I've started looking for another job. $13 and paying Mr Blockbuster is never going to grant me financial freedom. That being said I'm not sure I'm in a position right now to open my own business, I wouldn't be able to offer anyone a service other than repairing and de-virusing PC's, and while I dont want to kill a dream before it starts I'm not sure if that would provide suitable income.
THAT being said I'm still looking into the idea and asking alot of questions, seeing if there's a market forgotten here in Canada

I joined the Canadian Real Estate Investors Club over the weekend, it seems to be full of like minded people and entrepreneurs.

The problem I'm facing is there's alot of money hungry mentors out there, claiming they know everything and for just a small sum of $5000 a day they will mentor me and promise I'll become rich.

It's my first lesson in Risk vs Reward. Personally I believe I can learn all the information for free, but at the cost of time and experience so I've chosen not to pay them for the time being.

So in response to your posts

@xdrew – I 100% Agree with everything you have said, I'm looking for a job at the moment that will pay me ALOT more than $13 an hour. I might have one that pays closer to $20 and offers full time hours. This would allow me to save a fair bit more but have very little spare time. It's either that or I go become say a Plumber or something along those lines, learn a trade. Then the money would fly in.

@morpheusbushy – No, I'm almost tempted to come back to Australia for that very reason. I moved here originally to be close to my Girlfriend, however it has been an uphill struggle the entire time. My Younger brother who has a disability earns $30 an hour at the ATO ( Australian Tax Office ) which makes me feel like total rubbish. Granted I'm sure there's a way to make similar money here.. just not in retail!

@jacm – I assume the 30% Tax is for an Australian Property and not a Canadian one, I do not intend on investing in Australia as of this moment. HOWEVER I might move back in the not to distant future.

@angelinsydney – I agree entirely. I don't suppose you'd be interested in some mentoring by any chance? I've read a lot of posts on the forum from yourself and I feel I would love to learn from you.

@ryan – Looking into another job now

@kong – We did some very similar stuff at Anthony Robbins UPW which I attended in Sydney a few years back. Very powerful stuff. I believe I've got the mindset you talked about, Hence why I do sound a little cocky and excited in most of my posts, Nothing is going to stop me

@foreverstudent – Interesting Question, I want to become financially dependent. I dont want to have to work for someone else and make them rich, I'd like to be able to start my own charity once I'm rich, do some volunteer work, work for the sake of working and not making money for others.

@scotts – It's looking like I might have to, I still cant figure out how all the single mums in Sydney earning less than $40 000 managed to make their millions. I always read and saw stories about the average joe single mum earning less than I do decided to flip properties and now she's a millionaire.

@jason – Thank you! You have given me some other options here to look into. To Answer your questions Yes I could absolutely do all or any of those. I'm very interested in talking more with you about potential roads.

@crusty – All im doing is setting myself a goal, If I say I'll be rich in 60 years then I will sit on my arse for the next 50 I figured being financially dependent by 30 is a great goal. Dont let my age worry you, I'm not the normal 24 year old. I dont drink, do drugs, go to parties, I'd rather be focusing on finances and making contacts to excel in life

Hi Guys,

One of the reasons  I left Australia was I have a GIrlfriend here in Canada, I had thought that the Australian Real Estate Market was in a slump at the moment, and there are already way too many Millionaires and Home Owners there. Canada seems to be a bit slower, not as many millionaires, more real estate available.

That aside, Why would I get taxed more for being in Canada? I dont understand this 30 cents to the dollar thing, could you go into more detail please?