Rentvesting lets you have your (house-shaped) cake and eat it too. Picture this: You’ve been enjoying life in your affordable Montréal home, but then you land your dream job in Toronto, where home prices are sky-high. Rather than selling and trying to buy into a pricier market, you decide to rent out your Montréal place, while renting a place in Toronto that’s in your budget. That’s ‘rentvesting’ in action. It’s a great way to grow your wealth through property ownership, and, in some cases, where rents are higher than mortgage payments, bring in extra cash each month. It’s a solid choice if you’ve got a steady income, a decent credit score, and can qualify for a reasonable mortgage. If you want to look into this as an option, remember you’ll need to handle property management yourself or set a budget for a property manager. Then, crunch the numbers. Figure out all your income sources and expenses, including income you would make on renting out your property, and expenses of the property, like the mortgage and insurance. If your income far exceeds your expenses, you are in a good place to rentvest. It’s also smart to have a reserve fund set aside for unexpected things like vacancies or repairs.