Early Retirement with Real Estate - FIRE
I have been reading a lot about FIRE - Financial Independence Retire Early on the web. And wanted to know if anyone had any good strategies on using real estate investment to retire early.
One of the ideas that I have been contemplating is in 10 years when one of investment properties will be paid off is to either ( I am hoping to retire the same time)
a) Keep the property and obtain $1,500 net of expenses each month
b) Sell the property (As without leverage, stock returns should come out ahead) - max out RRSP/TFSA
c) Sell the property and pay off remaining anticipated principal mortgage ($300K) and invest in another property.
I anticipate obtaining $500K net of expenses once sold, (except taxes, which hopefully will be somewhat mitigated as I will be retired and not earning an income)
Look forward to the feedback