So here I am.. another attempt at trying to blog yet again. I’m sorry guys I don’t know what is up with me these days. Another 3 months and no new posts. Maybe it’s because I have such a slow laptop that it’s demotivating to use.. I never open this laptop only when I want to transfer music (which is never.. been lazy with that as well). My lack of motivation may be due to the fact that I haven’t been setting myself goals and looking back at them. I used to always create milestones for myself using the Trello tool. Nowadays, I haven’t been doing that at all. That could be one of the reasons.
However, now that I have a goal in mind I am starting to slowly take steps back on track. I need to make a second income. This was the reason for me starting this blog right ? The reason was because I wanted to record my progress to gain financial freedom. So what is my goal you ask ? I want to move out with my boyfriend into a brand new condo. I want to invest in real estate and rent it out to tenants. However, analyzing both mine and my boyfriend’s income we are not making enough to secure a down payment. With the amount of money we are making, we will struggle making our mortgage payments if we do not have that bare minimum of 20% down. So now, we are trying to speed up the process by trying to figure out a second income source. Our goal is to buy a condo in phase 1 in downtown or somewhere near downtown. Ideally, we would like to buy a place that is in a developing area that could appeal to tourists. Montreal is becoming a rather attractive city for tourists with its many lively festivities and recent developments over the years. As a result, we saw this as an opportunity. We feel that the best time to buy a brand new condo in downtown is now because at the moment so many condos are being built that the market is getting saturated. In turn, this may drive prices down and increase bargaining power to consumers. We feel as if downtown will always be a popular area no matter what. We don’t feel as if it will ever die out. There is money to be made and we want to grab this opportunity now.
But with what money ? I barely even have 10% down.. hence why I am now motivated to find that second source of income. What can I do ? I am thinking I can get into stocks. Start reading about it and start investing on my own. That was always an interest to me however I didn’t pursue it because I found that there was too much risk involved. But I realize everything involves risk. If you don’t take the risk, you can’t make money. And if you try to go about it the safest way possible before you initiate, you will never take the leap. That is the situation I was in. I lost my motivation because I was reading so much and not taking any action. That was what made me stop. Remember when I opened that bank account in the states to invest in gold ? I never sent that cheque. I hesitated and procrastinated until I completely forgot about it. Well guess what ? Gold prices went up by 8% and I could have reaped those profits. Now I am the loser saying should have, could have, would have. Take the leap guys, that’s all it takes ! Don’t be like me who hesitated!!!
And now, I see my boyfriend’s friends are all taking the leap and I am left here watching them make money. That is what snapped me out of dreamland. It’s time to get back on track!