All Forum Posts by: John Humphries

Ok, here's a really loaded question with lots of possible answers.  Here goes - I'm wondering what the best strategy is for getting a conventional mortgage for my next investment.  In my case, I own my primary residence and another rental property with mortgages on each.  I've been maxing out my mortgage payments on my primary residence in order to pay down the mortgage faster, but I would like to buy more properties over the next few years.  In order to get mortgages on these future investment properties, is saving cash or building equity a better plan? Or does it even matter?

Any opinions welcome here.  Thanks.

Hi Robin, nice to see another newcomer discussing some Canadian topics.  I'm originally from NC but am now a permanent resident in Canada living in Courtenay, on Vancouver Island.  BP has been awesome for educating myself on real estate investing, but some things are definitely different in Canada.  I'm looking forward to getting more involved with the forum and learning about the nuances of investing in Canada.

In the meantime, having bought our home in Courtenay and another 1/2 duplex rental property, I can tell you that finding renters here in the Comox Valley is very easy.  The rental market is crazy tight and people are desperate for rentals to live in.  It can be pretty hard to find properties that cash flow, but if you look hard enough, they are there.