House Hack Virgin - Southern Ontario, Canada

[Cruz R.]

Hi all,

Starting out my venture. 

Anyone here familiar with the market in Southern Ontario, Canada? I’m looking to purchase my first property this summer.

I’m considering a condo in the city (Toronto/Mississauga), and possibly Airbnb it full time? (I can stay at my girlfriends nights I operate)

Or 

Try my best to crunch a triplex under  under my belt, house hack, rinse and repeat? 

Anybody here into the mix? I have landlord experience, my dad was one during my high school days, I assumed most of his duties being the only son. 

My situation, I’m coming off a car accident case, a driver fell asleep at the wheel and hit me in 2015. I’m still mending and almost fully recovered. I’m expecting my settlement this summer but I’ve been off work since. How will this effect my loan chances? Am I SOL even though it wasn’t my fault I couldn’t work? Is there a lower percentage if I live in the house for a year? I know that’s applies in the States, but is there a similar deal like that in Ont, Canada? Anyway to buy more than 1 property per year? Cons buying properties with business accounts in our area?