In our last show of 2021, we end things with a lot of great information about where to spend your hard-earned money with pre construction condos. Matthew opens the show with a few reasons why tradespeople are the perfect candidate for real estate investing. Matthew takes us back to his humble beginnings, immigrant old school parents, he started working in service jobs and that led him studying 2 degrees in university. During his hustling days and making 25K per year and working and studying every waking hour he had a light bulb moment, make money work for you, he looked at stocks and real estate. At 19 years old he purchased his first 617 square foot preconstruction condo with a payment structure plan he proposed to the builder and it worked. He had 2 years to pay off 60K and it began with 15K part of which was taken from his student loan, and that is how simple and easy it was for Matthew to begin.
Be aware of your financial situation, don’t ignore missed payments, address everything, one miss payment raises red flags for lenders and questions what type of person you are, they want to know and don’t let the past dictate who you are, set up automatic payments, pay the balance off, apply for good credit like a line of credit, hit banks all the same morning and apply for the same amount, you may not get all, but you may get half and that right there is enough for you to begin a passive revenue stream.
Be aware that lenders will look at your business website, your social media, CRA, the Tax Man will look at your social media to see if what you have been filing lines up with your lifestyle, these are details to be aware of. You can get audited based on your perceived lifestyle on social media. The best time to invest, buy, secure your future was yesterday, the next best day to do the same is today, don’t wait for life to be perfect, you will figure out how to manage.
Matthew opens the conversation to Digital Real Estate, NFT’s and Block Chain. Crypto portfolios are a real thing and they will be used as leverage for making actual and digital real estate purchases. Matthew shares some insight into what he has learned and when you understand that A lenders are getting into the crypto business you as an investor should be doing your own homework into it. We continue with the numbers and begin to share the monthly subscriptions, Netflix, Amazon, YouTube Premium, Uber, Uber Eats and more, credit card annual fees and more, assess your expenses and ask yourself some hard questions and you will quickly realize a lot of money is being wasted when it should be invested.
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Thank you so much Matthew for joining the show and sharing your construction, I look forward to being on your show to continue the conversation. Reach out to Matthew at www.millennialschoice.com and his email at firstname.lastname@example.org and his IG @matthewablakan and his YouTube Channel https://www.youtube.com/c/TheMillennialsChoiceChannel
TCL has and always will be about giving back to the construction industry.