Canadian Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
New Deal but i need help!
Hi BP memebers,
I've recently found a really nice deal on a triplex. Purchase price is $354,000 Unit price is a little high at 118k per unit.
The purchase price is a little high but it is definitely justified, as it produces $47,000 per year.
Typically I would try to get a hard money lender buy the property cash and BRRRR the property. But after seeing it, the units are pristine. This property needs no work inside or out. There is really no room for refinance.
Im actually in need of a place to live so i thought about using my home buyers plan and moving in with only 5% down.
Next issue is that all my other money is tied up in other deals right now. 1 property closing next week, and another at the end of October.
Trying to think outside the box right now on how to get this property but Im coming up blank. Anyone have any suggestions or routes i could take towards this?
Thanks guys!