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Updated about 6 years ago on . Most recent reply

User Stats

126
Posts
106
Votes
David Steinbok
  • Rental Property Investor
  • Toronto
106
Votes |
126
Posts

How to streamline my existing portfolio so that I can buy more pr

David Steinbok
  • Rental Property Investor
  • Toronto
Posted

Hello everyone. I'm looking for some advise or creative suggestions please. I'm new to this site and have just spent hours reading posts. I've been investing for 6 years and have 9 houses that I have bought as single family homes and converted then to legal duplexes. I invest in oshawa, Scarborough,  and London Ontario. My issue is that I have hit a wall. I am having a hard time qualifying for anymore properties and I would like to switch to multifamily.  My properties are increasing in equity every year alot but I feel like I am always cash poor. I have refinanced half of my houses in order to buy more and have spent most of the refinance money on down payments or renovation costs to build basement apts. My question would be, how do I stream line what I have to provide better cash flow. Should I sell one or 2 houses and buy a multiplex with the equity. Or should I sell all and have a few million to start over. And if I sell how do I not loose half to capital gains tax. Any ideas would be appreciated.  Dave

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