Real Estate Home Mortgages/retirement


I am writing from Canada, but am hoping you will have an opinion nonetheless.
Thanks to an inheritance, I will be able to pay off my mortgage soon. I am 55 and in good health, so I plan on working for a while yet.
Eventually I would like to retire to a warmer clime, in Canada or the US.
Would it be a good idea to purchase a retirment property now, so I can have it paid off when I retire, and rent it out in the meantime?
I was thinking of having an agent look after the property and collect the rent until then.

I am not as familiar with the Canadian market, but it is a good time to buy in general right now, pricing on homes is still low and interest rates are very low.  As a result purchasing a home and renting it out until retirement can be a good direction to take.  The portion you need to consider carefully is the maintenance and property management of the property.  If you have a good agent or property management company doing that for you it can certain alleviate a big burden for you.

I do work with many real estate investors, several of them are buying at this time, provided they have the funds.  I have seen many people do the investment very well, pulling good profits, and others have lost.  The key really comes down to buying the right property and managing it well.  If you feel you can do those things well then you would likely come out ahead.  

Please let me know if you have further questions.
About Real Estate Home Mortgages
This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here

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Mark Schow


Can: reverse mortgage, mortgages of all types, debt management and settlement, foreclosure problems, real estate investment strategies. Can't: real estate law, standard banking outside mortgage and debt.


2002-2004 President of the Utah Association of Mortgage Brokers (UAMB) 2004-2008 Board member UAMB, Fraud task force chair, PR chair, Legislative chair. 2002-2005 Delegate to National Association of Mortgage Brokers, Legislative committee. 1996-2008 COO Debt Free Living- Now Debt Fast Track. Founder of company- consumer debt elimination company. 1994-2008 President Secured Financial Freedom. Mortgage broker, serviced nationwide, 120 employees and handled real estate investment loans for the Carlton Sheets group and some Rich Dad clients. 2005-2011 ARES, LLC. Owner, Manager. Private money investments, business consulting. 2011- present, Reverse My Mortgage, LLC. Managing Member. Reverse mortgage education, marketing and sales. 2011- present. Salt TV Network. Financial contributor, Sales Manager.


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High School- Alta High graduated 1984 Brigham young University- 1986-1991 Business Finance Major

Past/Present Clients, Doreen Stein, PEI institute, Franklin Covey Coaching, Capital Financial Group, the rest are consumers- cannot give out names due to privacy but have had thousands of clients both for debt elimination and mortgage work.

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