All Forum Posts by: Christopher Harrilal

hello,

I've used bungol.ca for GTA search, asking/sold, prop tax, condo fees and rent prices.  

Hello Roman,

I know this is pretty far for you but I just bought a house in Chatham which is move in ready and meets 1% rule.  It will cash flow right away.  Chatham also has a lot of duplex's.  Houses range from $50000 and up.  I had many good potential tenants to choose from.  GTA is very hard to flow money.  

I'm currently looking outside of my immediate area within 2.5 hour radius.  Brantford, London, st Thomas.  The houses are old but cheaper requiring less money down.  I'm in the early stages myself. 

Hello. I used a HELOC for a down payment on our rental. We had good equity in our primary residence.

Hello.  I'm still new to this but reading through these forums and the material on this website is very helpful.  The GTA is a tough market for real estate.  Prices are high and rent will not likely break you even.  It' best to look outside of the GTA.  

Thanks for the reply Roy. You are right my HELOC is a higher rate. I was thinking of ways to lower monthly expenses. It will of course take much longer to pay off the house with a larger HELOC

Hello,

Newbie question. What is a good ratio of down payment to mortgage if using a HELOC? If a property is $200,000, would be beneficial to put $100,000 from a HELOC and have a $100,000 mortgage? End result would be ~$500 M payment plus ~$320 H payment for a total of $820/month.

Is it better to put more or less DP from a HELOC?

Hello Bigger Pockets community.  I am new to the forum and have been addicted to reading up on real estate.  I currently have one unit in Brampton which was purchased 4 years ago and a vacation rental in Orlando.  I am looking at Brantford or Hamilton area for my next one.  I would like to add 2 units in 2018.  It seems hard to cash flow in the GTA.  Looking forward to connect with agents, brokers and anyone else with any tips and tricks.  Happy house hunting! 

Thanks,

Chris