Monday December 8th - The day I became a homeowner

Monday December 8th – The day I became a homeowner

I’ll never forget the day I checked my account balance and the statement said $2.09. I just wanted to cry because I felt so defeated. I had mountains of bills, creditors constantly calling me and no money to pay them. During my early twenties, my finances were such a mess and it was my best-kept secret. I was tired. I just couldn’t take the pressure of constantly trying to be someone I wasn’t just to fit in. I was depressed and had anxiety about my future … not only career-wise but my bank account was always in the red. Something had to change immediately.

Today, I cannot stop smiling because I just purchased my first investment property; a one bedroom stacked townhouse for $214,900 in Richmond Hill. It is currently in the pre-construction stage, so the strategy moving forward is to sell when it is fully established in 2017, take that profit to purchase another property and repeat those same steps when discovering new deals that surface in the market.

Work smarter, not harder
Work smarter, not harder
Work smarter, not harder
Work smarter, not harder

This has been my mantra for the past four years. But I want to share more about how I arrived here because I think the journey is much more interesting than the destination. I recently wrote an article called Broke & Living: The Big Money Lessons I Learned While Trying To Keep Up With The Kardashians which spoke about my inability to manage my money in my teens because I was too consumed with the idea of perfection.

What it looked like.
What it felt like.
Confused by my own definition.

Below is the action plan I created so that I could gain the skills, knowledge and tools needed to make the right choices about my future.

1. I sought after professional help
It’s never too early or too late to start planning for your future. The best person to talk to is an accredited financial advisor. It is recommended that you interview two or three in order to find a professional who understands your goals and has your best interest at heart. The first step is to make a commitment followed by a plan of action. When meeting with your advisor, he or she will encourage you to consider contingencies such as a disability, critical illness, or death within the family. It’s important to reassess how these circumstances will impact your life and what you can do to protect yourself. You need three things to reach your goal: time, money and rate of return. Focus on the two components you can control, which is time and money. Set small goals and think big. I started saving only 50-100 dollars monthly four years ago. It’s not a lot but it’s more than a lot of people can say they’re doing right now. Today, I’m saving closer to 500 dollars monthly. Still, not a lot but it’s what I can afford and I’m proud of my progress. Besides a contingency plan, you need to outline a budget. You’d be surprised how much money we waste on morning coffee and other items. You DO have money to save, you just have to keep it real with yourself.

2. Stress proof your financial plan
Life is all about change and at the drop of a dime an emergency can occur. Examine your plan regularly so that you can adjust it before something happens. Once it is designed to do a job, ensure that your goals are supported with the right options available to you. Protect your assets and don’t underestimate the need to do it sooner rather than later. Your actions will create discipline. I just turned 27. As I approach the golden age of 30, I see children, marriage and a fruitful career in my future. I don’t want to wait until I reach those milestones to start preparing for them. Life changes cost money. Money does not fall from trees. To avoid the stress, I started saving early. Then I took a look at my savings pool and thought about what power moves I could make in order to double, triple or quadruple my money. The answer was obvious. Investing in real estate is one of the only sure-ways to accomplish this.

3. Invest with Confidence
Young investors should consider opening a Tax Free Savings Account because of the tax benefits. A Registered Retirement Savings Plan is a good option as well. The big payoff is that you have a far better chance to save enough money to do the things you want to do in the way you want to do them, for as long as you live. I won’t lie to you, taking action was very scary, but the idea of continuing to struggle financially was more terrifying. I will come right out and say it, I don’t want to struggle. Ain’t nothing cute about women who walk around with $2000 designer handbags with less than $200 in them and ain’t nothing cute about a man who drives a nice car but can barely afford to pay his insurance. I want to have the financial freedom to live fully. I have the choice to do that right now. I have my future in my hands. So I took the necessary steps to inch closer to my goals.

In the past four years, Ken Thomas – my Financial Advisor and Aaron Charles – my Investing Partner and Realtor educated me about how to clean up my debt and create generational wealth. They both schooled me on my careless spending habits and educated me on the same principles and values they use to navigate their lives. These two men created something from nothing. They both started out like me but have disciplined themselves to create growing empires. Ken is the Division Director for Investor’s Group and Aaron owns more than 3 million in assets under management.  Their energy has rubbed off on me BIG TIME.

Due to our country’s debt crisis, preparing the next generation about personal finance is critical now more than ever before. Financial literacy is a pillar which provides life support to a better future. The day I became a homeowner was the day everything changed for me. I purchased my first investment property under the age of 30; a goal I set for myself four years ago. People have many reasons why they hustle, but for me, the goal has always been to create a legacy; a brand and business that will outlive me. 10 years from now my (future) children will either eat or starve from the decisions I make today and I’m tryna raise kings and queens.

If you want more information about my purchase or have any finance related questions, please contact me directly and I will help you the best way I know how. If I can’t answer an inquiry, I can gladly forward you to my teammates Ken and Aaron directly.

Remember, if you never understand money, you will always be a slave to it. Don’t ever let what a man brings to the table be all you have to eat. The smartest thing a woman can ever learn is how to finance herself.



Peace & Love,