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/biz/ - Business & Finance

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28028975 No.28028975 [Reply] [Original]

I have ~80k (CAD) sitting in a bank account like a literal retard after selling a house a few months ago. I live in Canada, and have bought another house for which I have a 330k mortgage on.

I am 33, make a good salary (107k) that will give me access to a pension in only 12 more years (military).

Should I take my 80k and buy another piece of property?

Also worth mentioning I already have another 70k invested in a TFSA with moderate risk.

Thanks for any advice you may have lads.

>> No.28029632

>>28028975
>CF
based. which trade?

>> No.28029687

>>28029632
Engineer Officer (army). Rather not be overly specific

>> No.28029724

>>28028975
Lol what trade bro? I'm guessing you're a major or old as captain? Where are you m8?

>> No.28029798
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28029798

>>28029724
Major.

Should I be a landlord though - that’s the real question.

>> No.28029897

>>28029687
Fair enough. Depends where you are. Chances are you're in a shithole town and there's no real housing bubble. Wouldn't be bad but id personally gamble it in crypto and maybe some steady stocks if I were you.

>> No.28029960

>>28029798
Where do you plan to settle after the military? If it's a small town where houses are only a couple hundred thousand you could realistically rent it out and move into a mortgage free home in 5 years.

>> No.28030011
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28030011

>>28029897
Thanks anon.

I am in Ottawa (the capital), which despite being a shithole, also has a housing bubble.

>> No.28030094

>>28028975
>lads.
ok ukfag. Go ahead rent out your shitty 2bed house they'll just crop it and you will be left with the bills when it's raided.

Congrats.

>> No.28030107
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28030107

>>28029960

Based suggestion. My plan is to retire/start a second career in the UK as I have some skills which will be easy to market as a contractor, but I can’t buy a home there yet.

>> No.28030194

>>28029798
>33
>major
Do you know Dr Johnson? He's killing me rn...

>> No.28030217

take the 80k and buy a woodlot in new brunswick

>> No.28030378
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28030378

>>28030217
Why?

>> No.28030462
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28030462

>>28030194

Not sure what you’re referring to anon. If you are referring to a real military Dr, I don’t know him/her.

>> No.28031096

>>28030378
clt construction is going to replace cement in environmentalist areas
we don't have enough wood already, price has doubled in last year
global warming will gradually increase hardiness from a 5 to a 7
projected global water shortage in 10-15 years, average acre in NB gets 3 million litres
only costs are property taxes which are almost nothing if there's no structure on the property