Let’s PLAY a game…
Ready to use your imagination? Picture what your life would have looked like if you had ownership to your own condo/property in Toronto GIVEN to you when you were ready and responsible to handle it? What if your parents were able to provide that for you, what would your life have looked like back then, and what would it look like now?
It’s a bit of a rhetorical question. What it would mean is that you had the freedom to take risks, to travel, to have control over your life, to not take that job you didn’t want to, to give you confidence in life decision-making, to hit the ground running in the property ownership and wealth-building world.
We have the perfect plan:
We will show you how to lend your kid money, get your money back in 5 years AND give them a property.
HOW does it work?
Press PLAY - and see for yourself! It’s much easier to understand with this explainer…
the property ladder - it’s a real thing
All of our kids need to learn life lessons. They will have to struggle, just as we did. We’re not suggesting that you spoil them into adulthood. We’re believers in giving our kids a Head Start. Getting on to the “property ladder” is becoming an impossible goal - and our kids NEED our help. And then, well, they can take it from there.
Getting the first property gives them the chance to own their next property. And the next. Until they have a family of their own and can provide security and shelter to your kids (and your grandkids!).
buy them their first place, they can’t on their own
You’ve seen first-hand how difficult things can be when you’re trying to be a grown-up. Managing budgets, working on your career, maintaining balance. If you’ve been a renter, you’ve probably also faced evictions, raising rents and a lack of control. All of this does is increases anxiety. And it’s all UNNECESSARY!
You can prevent ALL of this from happening to your kids. Because you’re an awesome parent.
Summary of the Team Mangos Head Start Plan:
You borrow $80,000 from yourself through savings you’ve accrued, or through other means (we can help you be creative)
We locate the right property - under $450,000 - where the numbers and tenant profile make sense.
You’ll start growing your wealth by using real estate to make you money in 3 ways:
Cash flow: Income - expenses
Principal pay down: Tenant pays you rent -> you apply that to your mortgage -> tenant pays your loan down
Appreciation: Real estate prices increase -> value of your property increases
Results in 5 years? Tenant pays down your mortgage (which is equity earned) + property appreciates = More than doubles your investment in 5 years using VERY conservative estimates
AND we’re not done yet! Here’s where the magic happens - in 5 years you’ll re-work your mortgage on the property to borrow 80% of the value of the property at that time.
You’ll pay the balance remaining from the original mortgage AND pay yourself back your original investment. You get to do that AND you keep the condo (which the tenant is continuing to pay for).
You can continue to own the condo until you’re ready to transfer it to your child. It will continue to appreciate, continue to be paid off, and cash flow will increase.
Your child can choose to live in it, rent it, or use the equity to buy the home that they want.