I’ve not been entirely happy with the results that we have been seeing with our Mutual Funds in either RRSPs, TFSA and Open Investments. It almost seems that the stock market crashes far more frequently now…so I’ve been looking to diversify. As I learned in Cash Flow Quadrant, diversifying can mean more than one thing.
Up to before I had read the Cash Flow Quadrant books, I always thought of diversifying of spreading your investments around different stocks. Mutual funds do a good job of this. However, after reading the book I learned that we sill had all of our eggs in one basket…that basket being the stock market. Since we have a little bit of equity available to us in our home, we looked into getting into a bit of real estate.
There are a few very successful people in my BNI chapter who have rental properties, and over the last 3 months I have been slowly learning from them. I’ve also been looking to see what is available in the local market as far as duplexes go. There were finally a couple this weekend that were good enough on paper to warrant a physical look. One of them was terrible, house was leaning towards newer apartment block. Our Realtor told us that a good rental property is very hard to acquire, so it is a good thing that we are not in a rush.