How to Retire Early : Early Retirement Extreme : LEAN FIRE PT3

[@KellanJames]

On the scale of 1-10, where 1 is Tai Lopez, and 10 is the definition of "actionable": this is a solid 11.

[@CanadianRealEstateChannel]

Thank you Kellan! This is the best compliment ever! I want to be all about that actionable content!

[@ChunkyMonkaayyy]

I got 6 cryptos in my Lamborghini bookshelf.

[@TheTurdballs420]

I showed this video to my son who is now my father

[@CameronChardukian]

hahaha

[@thiagoghisi]

Could not agree more! This video is awesome! Thanks a lot Matt!!!

[@edgehodl4832]

Worst thing u can do is follow ur passion, my passion is to Netflix and chill, it destoryed my life

[@thiagoghisi]

Amazing!!! As always, 100% actionable tips! Love the spreadsheet and how transparent you were with all the numbers. I would love to see a video about how you would approach lean fire in big cities like Toronto or New York City where the real estate is just insane. In NYC, it almost impossible to find a reasonable duplex, 4plex or 6-plex in less than 1 hour from Manhattan...

[@gersonadr2]

For a guy approaching FIRE using the 4% SWR, this video just blew my mind. Thank you sir

[@CanadianRealEstateChannel]

Glad to hear you enjoyed it Gerson! It's surprising how with some strategic life hacks, you can drastically reduce what you 'need' to live. Thanks for watching & commenting!

[@andyp743]

Spot on. I've been house hacking since I was 21, 6 years $10k per year income off the house I live in, yes please. Rented my first 5 bed house and did it, you don't even have to buy. We don't really have 'plexes', had to google them but it works with bedrooms. Very interested in this side of things. Me and my girlfriend are looking to retire off our rental income and p2p lending in the next 6 months and travel. It should give us $40k nzd/$45k cad to live off. It might not go smoothly but like you say, we can always do work along the way. Awesome vids as always.

[@CanadianRealEstateChannel]

Andy P epic story! Kellan & I may need to have you on our new podcast in the near future!

[@andyp743]

Matt McKeever Sure, not to be a creep but ive sent you a request on fb. Keen to hear more on 'hard money lending', not a concept i've heard of before.

[@andrewlu4529]

I love this!! when you said "The thing about LEAN FIRE is really about being cognizant of what you want in life and what's really adding value to your life" really made me take a look at my day to day life a lot differently, being more aware of the important aspects of a 'good' life! Thank You for sharing. #PM4 #ProjectMayhem

[@DrewSynder]

If Canada allows you to deduct your live-in water, electric, insurance, property taxes, heat and so forth -- it's free money. This would be illegal in the US for tax code purposes. In the US, you would assign only the rental expenses. So for instances (Scenario 1), you're expenses wouldn't be $1403.79 a month, they would be half that and you would positive cash flow and be taxed on such.

[@mariorobinson9112]

4 years later here I am watching this vid! LEAN FIRE

[@Jimmy-ph8xn]

I can sell my house, sell my car, divorce my wife, and live in a dilapidated shack today! Chopping firewood and Infinite crossword puzzles here I come!

[@mitcht1026]

lol exactly

[@jobe8764]

Most of my friends were divorced by their wives, lost their beautiful homes, live in dilapidated mobile homes, including me. Yes, I have a log splitter for selling firewood, LOL!

[@lewis6590]

Yeah! Imagine not spending 5/7ths of your life working for someone else to afford the big house you get to clean every month. What a bunch of losers. They probably don't even know the constant source of joy that is car insurance, a phone plan, binging netflix on the weekend and bringing in every new year wondering wtf happened.

[@BigRed2]

LewieBot Imagine living in a shack smaller then the ones in the congo and having have the income people in poverty make and let’s not mention when Social security age comes you won’t qualify most likely, but hey you don’t work !

[@lewis6590]

@@BigRed2 You obviously didn't get the point of the video, and dismiss the idea to protect your ego for having worked this long and having little to show for it. I get it.

[@UnauraOS]

Currently reading the book you showed, it`s not my first book on FI but I find it very very interesting, good choice!

[@CanadianRealEstateChannel]

Glad you’re enjoying it! Thanks for the feedback!

[@snakechrmr6398]

$250,000?? Totally ridiculous. I moved to western Europe to work my last years and retire. Retired 6 years later at 62 with $30K savings, a small pension, a new high mpg inexpensive car (bought 3 months before retiring for cash) and a 7 year old Harley (bought new in US for cash). Lived on savings and the pension for a couple of years until SS was enough for me to live comfortably. Moved to eastern Europe a couple of years ago and today here I sit. 68 years old, $15K in savings, a small pension, US Social Security, 6 y/o high mpg inexpensive car, 13 y/o Harley (127,660 miles) and you couldn't run fast enough to give me a job. I did take over all my investments from the so-called experts after what they did to me in 2008 and began handling them myself. To date I've not lost a penny on any of my 2 investments. Every month I invest in one bottle of Jack Daniels and Harley parts.

[@jschultzf3]

Solid stuff, Matt. The FIRE system looks promising 🔥

[@CanadianRealEstateChannel]

Thanks James!

[@azteca6695]

I "NAG" my two nephews (18,19) about retirement and savings.

[@CanadianRealEstateChannel]

😆

[@ChrisMFlorida]

I nag my coworker who is 42 and has no retirement savings, but owns 3 drones and rents a room.

[@mphomolapo1562]

@@ChrisMFlorida w.o.w 😓

[@dvelop4975]

@@ChrisMFlorida ahhha

[@chrisarguello1170]

Drowning yourself is mortgage debt is not a good idea. You're ignoring risk (assuming you have a renter, renter pays on time, etc.)

[@CanadianRealEstateChannel]

Hi Chris, I def understand your concerns about debt. The manner in which I get (more) comfortable with it is: All my properties are max 80% LTV, meaning that I have at least 20% equity in them, as well ensuring my properties are in line with the 1% rule (which in my market is a strong indicator of cashflow, meaning it should be able to service the debt and still cashflow). Is it all debt that you disagree with, or the particular implementation I've used here? Real Estate investors are often far more comfortable with debt than other individuals. (as the reason people are drawn to debt is for the leverage, being able to control a much larger asset base than they otherwise could have, if this asset base is then put to good use it can create greater wealth than if debt hadn't been used) but that's just one perspective from a real estate investor (and I'm obviously biased as this is one of the primary means I've used to grow my wealth). If a person wasn't refinancing in a short period of time - would you be ok with debt on an investment property? Regardless - thanks for watching!

[@roslynmonahan1352]

Matt McKeever and if someone is uncomfortable with too much debt they can purchase the property while they are still working and have a 3-5 year plan to pay all or most of it down before they retire. Too many people find reasons why they cant instead of how they can make it work for them.

[@nickyspersonalfinance9256]

I'm just getting started in REI and have watched 75% of your videos. Can you do more deal analyzing? I need help analyzing the numbers. Always great content. Thanks!

[@CanadianRealEstateChannel]

Thanks Nicky! For sure I'll do some more deal analysis video's - thanks for watching and commenting!

[@vansicklejerry]

Of course you kind of mentioned heath care cost aren't an issue for you, but In the USA health care cost are a big killer for some people. Also, it sucks are Roth IRA is nothing like your TFSA. I wish we had that here.

[@hendrikvanderzandt1899]

Matt, very well explained. Thank you! Maybe also worth mentioning that you don't need to save cash until you have $250k to follow this strategy, but that you can have your money work for you until you reach that equilibrium of income and personal required expenses.

[@CanadianRealEstateChannel]

Fantastic point Hendrik! I was just trying to cram so much into this video (and keep it close to 20mins) that there was all sorts of things I wish I could have discussed but needed to cut for brevity. Thanks for watching!

[@matthewmagennis2072]

I'm so excited to retire and never work again! All I need to do is get $250,000, buy a duplex, interview potential tenants, follow up with tenants that don't pay their rent, deal with tenants that trash your property from time to time, get up at any time during the night to call the plumber to fix a broken toilet or go fix it yourself, deal with tenants that sue you over a broken part of your property, find new tenants when you have to evict them, do spreadsheets, replace fire alarms and extinguishes... Not working sounds like a dream!

[@CanadianRealEstateChannel]

I bet you’re fun at parties 😉

[@dawsondixon4856]

Love hearing about the lean FIRE, great content in here. I like how you're breaking down each property with real life examples

[@CanadianRealEstateChannel]

Thanks Dawson, it's a big topic to try and cram into even a couple videos, but hopefully I covered enough to at least pique peoples interests on how to take control of their financial lives.

[@1KnattyDread]

Matt what would you do if all you had was 10k to your name to start to reach for financial freedom?

[@nerad1994]

How ya doing now?

[@randolphbehm877]

With a Roth IRA you can pull your contribution back out whenever you want but you have to be 59.5 to pull out the growth penalty free.

[@rachaeldxoxo]

House hacking is an idea I have been toying with. I currently live in old south, Wortley is in walking distance and all in all I love the area and the apartment I live in. When I purchase my first multi unit, I will have to look at the numbers and decide if it makes more sense for me to keep renting where I am (that I love soooo much) and get that extra rent each month or if moving into one of the units is more cost effective. That’s my perspective on the subject of house hacking

[@priceandpride]

How do you get a job after being unemployed for so long?

[@CanadianRealEstateChannel]

Ideally, if you've FIRE'd you don't need a job. That being said, if it's a major concern, you can keep your skills sharp, in what ever field you wish, while not working by volunteering, being a member of trades organizations etc. As well the idea of mini retirement, or taking a year or two off is becoming less and less unusual; and in my experience few employers/recruiters judge negatively in that regards. For example, myself as a CPA - there are lot of ways I can keep my skills fresh/sharp - volunteer doing taxes, volunteer at charities and not for profits and work in their finance department or sit on the board of directors, I can work/volunteer for Ontario CPA organization, I could work part time, start my own practice etc. As well, it's not like by retiring you immediately loose all your business/trade connections. And if you were competent enough to FIRE once, I'd suspect you were competent at your job and have a good network that would write you references.

[@yuliya2201]

Oh my god, I just found your channel through Graham's and I can't believe the timing. I am just about to start renting out my condo (Alberta) and need to binge watch all your other videos to learn more about your strategies. I feel like I want to acquire more real estate in my 30s soon 🤗

[@leelaffan3925]

Ok so Matt I've just added up my time as of today and with all the big q and a sessions left i have 10 hours and 1 min. LOL. That's still a lot of video to watch but i'm almost there. Thanks for all the great tips commentary and just plain fun stuff. 1 of the things I really want to see is more on the RV. I can't wait to here if you sell it or really use it for the road trip. I would love an episode on how you are analyzing a property. Like using padmapper and google and so on. I myself am having an issue with my analysis. I just struggle to organize myself with what i should be looking at. The other thing I am wondering more about it zoning bylaws. If you have any helpful tips or if you could make a video on those subject I would really like that. Also I hope we can meet up sometime in the future. Before you become a HUGE KZbin star. LOL Lee Laffan

[@CanadianRealEstateChannel]

Wow Lee! Thanks for such a meaningful comment! You've made my day! Yeah I need to do an update on the RV. Appreciate the video idea suggestions! I'll be sure to do another video or series on analyzing properties and how to learn more about bylaws etc. Thanks again!

[@thesovereignindividual6594]

You are showing how to invest not how to retire. These investments have risk also. Especially when using mortgages as you suggest. This is work and risk reward. Not retirement. Correct me if I'm wrong. 250k should give 7500 a year. Buy a property and live in a cheap country and work on what you like as a semi retired solution would be a more retirement kind of solution.

[@jaylenlenear3944]

Getting into real estate just isnt3 that easy though. If I buy a duplex and the other units sit for awhile don't I still have to pay on all 4 monthly ?

[@epictetus3406]

Where in canada did you buy a duplex with a garage in a nice neighborhood for $140 000?

[@zzdrunksniper8586]

I need some advice Matt! Im 19 and i live in Chile, how can i start getting in the real estate world and learning how it works. I really look up to you. Ty

[@CanadianRealEstateChannel]

I've been getting a lot of these questions lately - and will have a video coming out shortly - showing step by step how to build your knowledge base in real estate. Hopefully that will help you out. (Hoping to release it later this week)

[@GiancarloCorzo]

Great video, like the idea but I notice you didn't include few services into the spreadsheet is that because renters are going to pay for it? (like water, snow, grass) and what about house maintenance and other fees?. I like the concept but there is probably too many hidden fees

[@JP-tw2od]

Great vid Matt! I'm curious to know how you would approach the Lean Fire strategy in high shelter cost cities like Toronto or Vancouver?

[@CanadianRealEstateChannel]

+JP 34 good question - I'm going to assume that house hacking in major cities like Toronto is unlikely at best - so in that situation I'd consider relocating first, if I decided that was unacceptable I'd try to find a rent hack opportunity - rent a 5 bed house for say 2k, rent out 4 rooms and live in fifth etc - now you'd need to get your landlords approval

[@jeffg3895]

Van life.

[@whodat9890]

no smart landlord is going to approve.

[@mpodobnik]

Had no idea about lending through a TFSA. Great content as usual, Matt.

[@CanadianRealEstateChannel]

Thanks Marko!

[@mpodobnik]

Your spreadsheet game is strong. I need to get on that. Did you make these from scratch?

[@CanadianRealEstateChannel]

Yeah... haha - huge spreadsheet junkie (I likely have my former day job as a CPA to thank for that). It really is worth it though to get at least decent with spreadsheets for analyzing properties and other opportunities.

[@pegasus8873]

Ok. But why would I hire someone who has a big break in their work history instead of someone right out of school? I mean how long would you actually stay at my job?

[@escapethecircle7370]

This is amazing. Your content is great.

[@CanadianRealEstateChannel]

Thanks for the support!

[@awalters0913]

How do you find reputable contractors that are both reliable and complete good-quality work for your renovations when you rehab properties?

[@CanadianRealEstateChannel]

I wish I knew...😭 I'm only half joking... Finding competent contractors who are reasonably priced is one of the most frustrating parts about real estate investing. There's no silver bullet. I think referrals are a great starting point. Talk to other landlords and find out who they're using, talk to property managers - find out who they're using. Also never depend on only one contractor/tradesperson for everything. Always have a back up person - otherwise you'll find your self frequently disappointed/upset. If the wrong contractor knows you're their only hope - they will use it to their advantage. I've been getting this question a lot recently - and I think I'll do an indepth video on it in the future.

[@awalters0913]

+Matt McKeever thanks for answering that question, very insightful response. That’s what I struggle with as well. I own a few properties in Ohio and have focused on ones that already are in great condition and need minimal upfront capex, but as a result have lower returns for taking on lower risk. I would really like if you did an in-depth video on this in the future! Thanks again and I wish you continued success!

[@HustleHue]

Matt your videos keep getting better man! keep it up *******************

[@CanadianRealEstateChannel]

I assume that's a compliment? If so thanks Jeremy for the kind words. If a critique of my videos - I may need further feedback to understand. Thanks for watching!

[@HustleHue]

I mean this in the best way possible!! This is one of the best videos you have made Matt keep it up

[@DuncanRenovates]

Is your success predicated on living in a university town where you're almost guaranteed renters? I'm in Cambridge, would I have to look North to Waterloo or could I stick local?

[@CanadianRealEstateChannel]

Good Question Duncan... The only real estate market I know well is London Ontario - So I'm not sure if my perspective is predicated on living in a university town... I think any market that has a strong renter base would be capable of replicating this - I know some of the smaller towns near London this is also possible. (Strathroy, Stratford, Woodstock and Exeter come to mind.) I think if you're a 'grinder' you'll always be able to find renters (assuming your in a decent sized market say 10K+ population) - having a clean property goes a long way in most markets and regardless of your tenant profile - if you focus on having a freshly painted and very clean unit - you should be able to attract decent renters (based on my experience). I think you could do this in Cambridge - but Mat Piche (another Real Estate KZbinr) who is based out of Cambridge would be a better person to ask.Thanks for watching!

[@DuncanRenovates]

Found him, thanks. I haven't lived in London for a long time (UWO student) so I haven't kept up with the local vernacular -- what's a "grinder"? To me it means "one who keeps their noise to the grinding wheel" (which itself is a pretty ridiculous colloquialism now that I think about it), do we use it the same way?

[@CanadianRealEstateChannel]

Duncan McRae sorry - by grinder I mean someone that works Harder - and/or smarter than the average person and so can usually get average and/or above average results. Thanks for watching!

[@Duxa_]

FIRE with 250k sounds like committing to a life of poverty. Worst case scenario as you present it is not even close. Worst case you are trying to find a job as a 50 year old while completely out of touch and forgotten what it was you went to school for 30 years prior. On top of that you have no contributions to 401k or Social Security, so your retirement is 100% dependent on your savings, which you no longer have because you spent it all because 250k is pennies.

[@NubHubGaming]

This plan sounds great in theory but it is based upon some strong assumptions. If everything goes smoothly and without hiccups it is possible, but the plan has high risk exposure. I would not recommend anyone in Canada to attempt to retire on 250k.

[@benefitnessstudio2702]

Cheers from Sarnia Matt! I hope to pick up more rentals in London soon!

[@CanadianRealEstateChannel]

Thanks for watching!

[@stevenbury3980]

Group three of types of people watching this video 'I could live off half of that'

[@reasonfeel]

Hey, sweet excel tables. Where did you get trained/how'd you learn how to be excel savy?

[@CanadianRealEstateChannel]

I'm a CPA so my day job included a ton of excel work. So that led to a lot of my experience with it. But excel is such a useful tool that I highly recommend everyone learn it. Lynda.com is often a great source for online courses - and you can usually get it free through your local library.

[@ShihabPersonalFinance]

Great explanation, but why no down payment on the duplex?

[@chibsryder]

Hey Matt, does this work in 2021?

[@GrahamStephan]

SECOND!

[@CanadianRealEstateChannel]

You'll always be my number one! 😄

[@Darija_Institute]

Cute 😂

[@storyofscripture]

NO homo

[@DavidJGlad]

On your remark about the Roth IRA, as I understand it and (Wikipedia gives for its advantages), you can withdraw the principal (not interest/dividends/capital gains/etc) at any time which brokerages give if you want to make a downpayment on a house/etc. Obviously you should talk to a financial/tax advisor rather than listening to somebody on the Internet. As I would think tapping retirement accounts should be THE LAST RESORT well after you beg family/etc for money. :) PS Important thing is starting now!

[@Baron1975]

I have lived on less for 4 years now. I sell options derivatives... and have generated an average 38% return average over 4 years. I have well over 250k however I think I could live on 100k indefinitely just selling derivatives.

[@JackWagonRL]

what did you do for a living before getting into real estate investing?

[@CanadianRealEstateChannel]

I'm a CPA, so I worked in public accounting, then transitioned to private sector as a controller. Thanks for watching!

[@angelao824]

Awesome video! This was great!

[@CanadianRealEstateChannel]

Thanks for the support Angela!

[@embitious630]

Yes…. I’m going back to my hometown country and live like a queen

[@honestly101]

Thanks Matt, another great video! He is a great person in real life. Thank you for all you do.

[@CanadianRealEstateChannel]

Thanks Noel! It was great meeting up with you yesterday!

[@Cryptomaniac.]

Ill make it simple. I only need 300k to retire, put all that 300k into a high interest savings account at 10% interest per year or even an index fund at 10% per year work for one more year and start living in the interest. I only earn €30,000 a year now and am easily able to pay rent, childcare and all my other bills. When i retire I wont have rent or childcare to pay for so ill be way better off than i am now.

[@laurencemathewriggs8023]

You should get him to get it on there. My regular job is logging truck driver. So it's were a lot of us get are book reading on.

[@CanadianRealEstateChannel]

+Laurencemathew Riggs great point! I will reach out.

[@samsantos3923]

Rey good content , keep it up , FYI I just subscribed

[@CanadianRealEstateChannel]

Thanks!

[@Ryano10]

Great videos. Keep it up I'll keep watching.

[@CanadianRealEstateChannel]

Thanks for the support! I really appreciate it.

[@AlexSanchez2254]

I love it!! Subscribed

[@CanadianRealEstateChannel]

Thanks for the support Alex!

[@JimmyBlimps]

Van life if you enjoy it is a sweet house hack

[@CanadianRealEstateChannel]

100% Agree - it's an amazing way to reduce your personal overhead - I have friends currently undertaking converting a sprinter van - they just took it on the maiden voyage a few weeks ago! I'm super jealous - If only there was time to do it all. Thanks for watching

[@whodat9890]

i prefer the 6 plex have an apartment and get paid 800 a mnth

[@marcmini8137]

miss this matt.

[@madchild74]

Matt this video was awesome!

[@CanadianRealEstateChannel]

Thanks Jason!

[@lisaa6099]

Great vid. Like the practical ideas.

[@Doso777]

Invest 250K into Mintos, get 12% interest, have low living expenses. Might work, but it's probably a bit risky ;)

[@sierraignition5393]

this is awesome! Can you give more information on hard money lending, like how to be a lender etc?

[@slackerjo]

Is 250K retirement possible if one inherits 250K in one shot? I am very frugal as I make a lousy income at a job I don't like ($2364 CND a month) so I am pretty good at managing a very low income. I'd rather work 25-30 hours a week at a job I do like and live off investments.

[@vcoonrod]

Wow. This guy is amazing.

[@CanadianRealEstateChannel]

Thank you! ❤️

[@pla4825]

I like your style bro u gained yourself a subscriber

[@CanadianRealEstateChannel]

Thanks! I appreciate the support!

[@tmonique11]

Matt, where can we get the template of the excel spreadsheet you used in the video???

[@brianwahl8852]

You're my hero wanna post the excel template my man?

[@jonathanjacques7250]

Very interesting. But I don't want to live in apt. or duplex.

[@DanTheMentor]

Great video!

[@CanadianRealEstateChannel]

Thanks! Appreciate the support!

[@MrTofu13]

You're rockstar! I'm trying to FIRE myself. Good luck man!

[@CanadianRealEstateChannel]

You can do it!

[@ariefraiser140]

You can't just always go back especially if your occupation is in a professional field. Your skillset becomes obsolete.

[@CanadianRealEstateChannel]

Hi Arie - I understand your perspective, but disagree - I think in nearly every field you can go back, you may not be going back at the same pay or title, but myself for example as a CPA - I may not be able to reenter the work force as a controller for a pub co (though I actually believe I could, even though I've been away for 2+years) I would certainly be able to enter the accounting field and find some sort of employment.

[@ericgalaxies5536]

How do you find such cheap properties? I've been checking the Winnipeg kijji listings and the renovated I saw was 200,000.

[@CanadianRealEstateChannel]

Based on the three weeks I lived in Winnipeg - I know those deals are out there - the key is you want to find properties that are not renovated (those will create the best value adds for you) then you can implement the BRRRR investing strategy and keep recycling your money. I'll have a video coming out later today on the subject! thanks for watching!

[@anh7807]

I agree. Cheapest in my area is 300,000 and that was only one tiny 1 bed 1 bath duplex in which my bigger family would not be fit to live in. The other properties were more than half a million.

[@bitscratch229]

It's giving good returns now, but your entire net worth is in real estate which is a market that could easily see another recession. Even if that doesn't happen, you could have a couple months of bad luck where you can't find a tenant or have expensive repairs.

[@CanadianRealEstateChannel]

Hi Nathan - I understand your perspective - Admittedly I likely wouldn't retire off of only 250K, I think it is reasonable to do so, and like I've mentioned in this and other videos: worst case if you go back and work some more, which isn't the end of the world. (From my perspective) I think as long as you're willing to approach everything dynamically, it turns out to be a more resilient strategy than most assume at first glance.

[@no9254me]

What about those who live in hcol areas with huge property tax. Brrrr is impossible.

[@ritasjourney]

So are you paying cash for these homes that you are renting out?

[@ritasjourney]

Never mind. I got the answer when I kept listening

[@specialk22tt]

I'll subscribe if you find where the camera lens is and actually look into it. ;)

[@CanadianRealEstateChannel]

😆 it’s tough not to look at the screen 😂

[@rickymagicanada]

Thank you Matt

[@thepenthouse1507]

The problem with fire is outside of Europe, healthcare is extortion. I can retire with 250/ even less 😂 Because I only need 300 bucks for healthcare and the rest is covered. On top of that, 15 percent of my dividend payments go into my taxes and get deducted from my bill. It takes almost half off my taxes 😂

[@thepenthouse1507]

And yes, kids are a bitch, and I don't have a mortgage

[@yeetusfeetus7877]

It’s not just Europe that’s like that.

[@blin7509]

A lot of assumptions. You have to be super optimistic to be able to follow this plan.

[@CanadianRealEstateChannel]

Perhaps. But the awesome thing about LEAN FIRE and/or early retirement is - there are no rules saying you can never earn income again. As well you could always reduce your expenses. Something really powerful once you realize you're truly in-charge of your financial future and stop viewing things from a scarcity perspective and switch to abundance. Thanks for watching & commenting!

[@kayjay9484]

great video,where can I get that spreadsheet

[@billcarson9228]

4:45 ... "complainty-pants" !! Love it !

[@CanadianRealEstateChannel]

Thanks for watching!

[@anthonypeltier4039]

Awesome! Love it!

[@CanadianRealEstateChannel]

Thanks for the watching & commenting!

[@Mantis858585]

"Complainypants" Mr Money Mustache. 😉😀

[@phazalrahman]

link to the spreadsheet please

[@sdsumiguel5937]

This video is lean fiyah

[@CanadianRealEstateChannel]

Hahaha thanks!

[@brenmmw]

Really appreciate that you’re Canadian and the content is relatable

[@CanadianRealEstateChannel]

Thanks for the kind words!

[@rmh691]

Rentals need repairs, have vacancies, tenants don't pay. He's misleading because he doesn't understand the real estate business and potential pitfalls of being a landlord.

[@CanadianRealEstateChannel]

You know I’m a landlord with over 60 tenants right??? I retired 3 years ago because of my real estate investments...

[@sammiwright2436]

You’re one of those “can’t do it “ people aren’t you

[@marianelavega453]

I'm frugal so that will last

[@CanadianRealEstateChannel]

Haha 😆

[@j.d.9010]

I don't know about all that. I'm 48, my house is paid off (worth $175k-$200K), have no debts, no kids, no wife & currently have $500k in retirement savings. I can tell you right now...there's no way I could retire. But unlike you...I'm not willing to be a landlord...so, maybe that's the missing key. Bottom line, if it's all working out for you, I can't be mad...CHEERS!

[@georgec2894]

J. D. Your spending rate is key. I live off £6250 a year

[@j.d.9010]

@@georgec2894 I hear ya. If I were to bare bones it, I could probably get by on $8k-$9k a year...but it wouldn't be enjoyable. It would mean no more contributing to savings/retirement accts, no more concerts (2 or 3 a yr), no more vacations (1 or 2 times a yr), no more dining out (1 or 2 times a month) & etc. Being able to do things with family & friends (other than just visiting them) is also important...we've all only got so much time on this earth. Retirement should be fun, to an extent. I mean you can't spend money like a drunken sailor on leave...but, I wouldn't want to spend my retirement just sitting at home every day.

[@georgec2894]

@@j.d.9010 Yes, this is very balanced. There's a lot of thought around having too much money too young and thinking you know what to do with it (me included to some extent!) With so many unknowns (both tangible and intangible, quantifiable and qualitative) that come with very early retirement I can see why you'd advocate a lower SWR than 4% for instance... more currencies in life than merely the monetary ones etc...

[@laurencemathewriggs8023]

Just wondering if that book is in Auidble

[@CanadianRealEstateChannel]

I wish it was! I've been tempted to reach out to Jacob and see if he would release it on audible... maybe I will do that now. Thanks for watching!

[@AA-nj2ni]

@7:35 Did he ever link his excel sheet for us to download?

[@Godblack1]

Hey MAtt are you sharing that Excel ?

[@marcmini8137]

retired at 27

[@imperi42]

what does "hydro" mean for expense?

[@magicpony9]

I think you’re vastly underestimating how difficult it is to “just go back and work some more” especially at anywhere near the salary you were making. Especially for people age 50+ (age discrimination is real) you shouldn’t depend on that.

[@someonemight]

I've retired on $200k. The key factors were moving to a cheap third-world country that offers very high interest accounts, living minimalistically, and abandoning women.

[@edietenbroek4492]

So if there are not many multi plexes in my area, can I not do basically the same thing by purchasing multiple homes? Instead of a duplex, buy two homes and live in one. Is this qualitatively different in some way?

[@Phoenix11720]

Would cost more in most cases, and would be two separate mortgages

[@theaus6604]

I like your style!

[@CanadianRealEstateChannel]

Thanks Dave! Be sure to hit the subscribe button and checkout some of my other videos!

[@cunningham.s_law]

can you live abroad while on fire?

[@petramaier9153]

Have you ever studied the ancient history of 2008? Real estate always work great---- until it doesn't. Having multiple mortgages when the market crashed and you now owe more than your house is worth is not a sound strategy.

[@CanadianRealEstateChannel]

Hi Petra, just to confirm is your position - that real estate is always a bad investment, or a bad investment because of the current market conditions? Does the fact that I invest in properties that cashflow and meet the 1% rule, and have min 20% equity impact your idea of whether this is a sound investment strategy? In your opinion is having multiple mortgages always a bad idea? Thanks for commenting!

[@CanadianRealEstateChannel]

Forgot to mention - I'm a huge Ludwig von Mises fan.