There are many people who plan to retire earlier and start a vacation life-style while having a steady income as well. One of the most popular scenarios for that is re-structuring of assets. For example, you can sell your house and buy an investment property in a resort area that can provide sufficient cash flow and enough room for yourself to live in.
Usually a retirement strategy involves relocation. And options are limitless. You can move to a small town in one of recreational spots around Toronto. Or you can relocate overseas where you can enjoy warm climate and safe environment, for the fraction of what you spend living in Toronto.
This is where I can offer my unique services. I can help you develop a retirement strategy that would include restructuring of your real estate assets and selecting places to move to, with detailed financial analysis and recommendations. And, of course, I can provide my professional services through the entire process, from selling your property to relocating and buying an income-generating property in the selected region.
Step 1: Assets evaluation
First step is evaluation of your assets including real estate. This will help understand your options and what you can afford. For example, if you own a house, we can estimate and compare the cash flow from renting it out or from selling it and buying an investment property somewhere else.
Step 2: Restructuring strategy
Next step would be developing a restructuring strategy based on analysis of different options. One of such options can be selling your existing house in Toronto for high price, and buying two or more properties. One property could be a smaller house for yourself in one of beautiful resort areas around the GTA where the prices are still much lower. And another could be a rental property that would generate a steady cash flow. Or you can consider a different scenario: selling your house and relocating to another region in Canada, USA or other countries.
Step 3: Relocation plan
Based on available budget and your needs and wants I can develop for you recommendations on relocation. There are plenty of choices, starting from regions around the GTA and the rest of Ontario, as well as other regions in Canada and USA, or moving to other countries, including South and Eastern Europe, South-East Asia, Central America and Caribbean countries.
I've picked certain countries that I recommend my clients, most of which I've visited and thoroughly explored myself. When selecting regions for relocation for my clients I take into consideration many factors, such as climate, immigration rules, living expenses, quality of life, safety, health care quality and cost, favorable business environment, taxes, etc.
Step 4: Investment strategy
I help my clients develop an investment strategy that would bring maximum cash flow and a peace of mind at the same time. It could be purchase of a rental property or a mini-hotel or B&B, in the country that was selected for relocation, so that you can have a steady income from running there a hospitality business.
Step 5: Practical Steps
The final goal of any strategy is its implementation. I help my clients with every step. In addition to developing a strategy, selling your property and buying an investment property in a different region, I can help you with many other related issues.
And because preparation and implementation of retirement strategy can take a long time, even years, it is better to start as early as possible. This will allow you be better prepared, make some steps in advance, and put your things in order.
Please contact me for an appointment so that we can meet and discuss your plans and options.