Excited to hear about your plans for 2025—let me know if you ever want to chat about the market or need any help finding deals!

@Caryn FischerI agree with Jaron, you should definitely have a consultation with your tax accountant and/or financial planner before you do anything. 

Prioritize your financial stability.

Maintenance hasn’t been too bad so far, and I recently made the decision to sell my business, so now I’ll be living off my rental income.My question is: What should my plan be from here?

He thought you were looking to be a borrower with your plans investments, not be a lender with your RRSP.I would seek out providers of self-directed RRSP plans in Canada. 

At one point I talked to my financially advisor and he said that it would be smart for me to open a HELOC on the property, but not draw from it, except in the case of emergencies.  

Prioritize your financial stability.

Through proactive maintenance, efficient tenant placement, and careful financial management, I optimized rental income and ensured a steady cash flow.

Ultimately, balancing your student debt and financial goals will help guide the best decision.Good luck!

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend looking for a accountant willing to work with you throughout the year.