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Updated over 3 years ago,
Real estate Gurus, need some quick insights
This question is in regards to the lower mainland, British Columbia.
Hello! I'm new to this forum but really enjoying reading and learning from everyone.
I have about 800k cash ( from the sale of my personal home).
Can I ask, if that is used as a 20% downpayment on a 4 million dollar property ( multi unit or commercial)...what is the average NET Income I could/should expect? After paying the mortgage, expenses...everything! Is a 2% Net return reasonable to expect?
I'm trying to determine which option is financially better:
A) put 20% down on a 4 million property and use the Net income to pay for the rent on a family home.
or
B) Use the money to put down on a personal home with a basement suite and have a minimal mortgage ( Around a $1000/month) and get a HELOC to fund my first investment property?
What kind of Net income could be expected on average from a 4million property?