How many rental properties do you think it would take to replace $100k in income at retirement?
Is it 20? 15? How about 10? It is actually 4.5.
The average household income in Calgary is just under $100,000 per year. The amount of free and clear real estate one needs to own to replace that income is surprisingly low. If you knew that four rental properties would replace your working income with passive income at retirement, do you think you would want to own revenue properties?
Like any large investment, it's important to know the pros and cons before making any big decision and you need to be clear on what your goals and risk appetite for owning Calgary rental property are.
Step 1. Can I Afford Income Property?
Are you financially…
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