All Forum Posts by: Musa S.

Old bugalows under 600k near in Hamilton / Niagara region can go on rent upto 2200 - 2300 (3 bed unit)

This will still generate 300-500 negative cash flow, but thats the maximum I can afford.

Hence I am confused to go with preconstruction and sell on assignment, or just buy an older home?

 looking for 1960 - 70s old bungalows near GTA

Hi Folks,

I am a small investor looking for a rental property under 600K,

alternatively can also invest in pre-construction with upto 120k deposit, and rent or sale depending on mortgage eligibility. 

Any suggestion which option I should chose based on current housing / recession landscape?

Musa 

Agree your point not to max out on one property...any recommendation on more affordable markets so i can buy two instead one?

Hi Folks,

I am planning to buy my first ever investment property

I live in GTA, I can take mortgage upto 1 million, and have approx 250k liquid assets for 20% down and other expenses

I am thinking to buy a single family, and build a legal basement for second unit for better cash flow/numbers

Area of interest are KWC, London, Niagara Region, Mississauga/Brampton...I am flexible with location as long as I gets a better deal and numbers look reasonable.

Questions / Concerns

- As a first time investor, my plan to go for a single family and such an expensive property is fine?

- With this amount of funds / mortgage capacity, shall i target any other type of real estate investment (commercial, smaller/cheaper units, per-contructions flips etc etc) ?

- Any other suggestions / ideas I should be looking into?

My Background

- I do full time job, will have minimum time to manage property/tenants

- So looking for minimum or reasonable hassle real estate model

- knows minimum or no DIY, so will rely on handy mens for any work

Any help will be really appreciated

Thank you for the response

Only small experience by managing tenant in our basement.

Any recommended area/city to target duplex/triplex?

Hi,

I am looking to invest in my first rental multi-family property in ON with positive cash flow

I dont have bigger pockets :( hardly have 40k in savings and 50k in HELOC.

I am looking for a cash flow property, self sustainable so I dont have to chip in for the mortgage, and possibly within 3 hours drive from Oakville.

I am also flexible to invest in far areas with help of property managers (as long as numbers make sense)

With above mentioned funds for the down payment, can anyone please advise which area or property type should I target? or I should wait and try to save more funds for the down payment?

Any suggestions will be greatly appreciated.

Thank you