Richelle Sibolboro

People keep asking me how I got into real estate. Well my real estate journey started back in October – do you remember the pandemic when house prices were insane? That’s when I decided to get my finances in order and started reading Rich Dad, Poor Dad by Robert T. Kiyosaki. There was a passage in the book where Robert tells the story of how he bought a condo for $50K cash, was going to hold it for 3 years and sell it for a profit. The person he was telling this story to said, you can’t do that today. Robert says, you can, you just haven’t tried.

So this got me thinking, can you buy a house in Ontario for $50K?

I Googled, houses for sale in Ontario under $50K and this town called Manitouwadge popped up with a bunch of homes on sale for $50K! I called the realtor who was on all the listings and asked is this true? She said yes, you can buy a house cheaper than buying a truck and sent me this CBC article about it. Then she boldly asks me if I’m coming up to see some properties. It threw me off guard and said I would think about it. She told me to give her a couple of days in advance and I’ll arrange some houses for you to see.

This got me thinking, I started to ask family members if they would want to go up and see these properties with me. The town is called Manitouwadge and its 12 hours north. None of us had been past Sudbury, I thought it would be a fun family road trip.

In November of 2020, my cousin, my niece and my mother we all packed up my HRV and headed up north to see if the rumours were true.