Toronto accountant and realtor, 31, is living for free by renting her two condos

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Toronto accountant and realtor, 31, is living for free by renting her two condos
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Riley earns more than $100,000 per year, plus rental income, and dreams of travelling and ‘trying to work really hard to not work hard’

Paycheque Project is a non-judgmental look at how young adults in Canada are spending their money.

“My clients want me full time – but I don’t want full time,” Riley says. Eventually, she hopes to have even more freedom. “I’m trying to work really hard to not work hard.” Riley makes a good living, pulling in $100,000 a year as an accountant, plus $30,000 as a realtor. She’s also a landlord, having purchased two condos with financial help from her family. She bought her first condo in 2019 for $680,000. She and her parents each covered 25 per cent of the cost with money from savings. She accessed anotherwhich allows homebuyers to withdraw up to $35,000 from their registered retirement savings plan and put it toward the purchase of a first home.

Although the combined mortgage for both properties stands at $575,000, which amounts to $2,800 a month, Riley rents one as an investment property and lives with two roommates in her primary residence. This brings in rental income of $4,900 a month. “I live for free,” she says.

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