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Updated almost 5 years ago,
Credit Rating Drop from Purchasing Rental Properties
I'm a Canadian real estate investor and recently purchased a few rental properties which net positive cashflows.
- Duplex Side A - $2,500/month or $30K/year - 2-YR lease set up
- Duplex Side B - $2,500/month or $30K/year - 2-YR lease set up
- Airbnb - $4K/month or $50K/year (2-YR average) - Nightly Rates
I purchased the duple in November 2019 and just noticed my credit rating dropped the day I made this purchase. Has anyone experienced this before?
Is there a way to show banks' property revenues to keep credit ratings up? Is this even possible?