What would you do with 200k in Toronto?

[Jessica Labos]

Hi all -

I'm new to real estate investing and to this great discussion board! Thanks to all for sharing your experience!

I have around 200k CAD and am looking at investing it in real estate in Toronto. I am 60 years old with a husband and 3 adult kids. Additionally, I am sitting on approximately 800k in equity in my current residence. I am somewhat scared of risk given my age. My goal is to grow a portfolio to include rental properties (for retirement income over time) and fix and sell as my husband is a contractor (we have flipped many years ago before it was sexy and made good profits back then). The investment properties would also be passed over to my kids and grandchildren to help contribute to their financial security.

Prices in Toronto have sky rocketed in recent years pushing me out of the market however, there has been some relief recently.