All Forum Posts by: Sienna Lu

@Kash Jawed Thanks Kash. Totally agree with you. I am monitoring the market closing by checking the asking price, sale price, DOM etc. Still have sometime to decide whether to put in on the market for rent or for sale, maybe I will do both.

@Theresa Harris Thanks Theresa. The recent dramatic increase reminds me the year of 2017. The price in GTA increased 40% at the beginning of the year and then dropped significantly after that.

@Andy Sung I am not that concerns about rent default, although that’s definitely not good. I am more concerned about the mortgage down payment for the next four properties. If the bank decrease the borrowing from 80% to 75% or 70%, that will be a big problem for me.

Hi Everyone, I am new to BP. By browsing for a couple hours, I know that this is a great forum with a lot of info. Really appreciate everyone sharing info/knowledge.

I bought a freehold townhouse in Hamilton last year about $650K, the rent is pretty good and can almost cover everything. The tenant is leaving end of Jun this year. I also need to close another 4 single family properties in the next 1.5 years all new built homes in Ontario. I managed to get firm approvals from banks for borrowing up to 80%, but still worry that the banks may change their minds in the last minute. I am quite stretched at the moment. Based on the report (link below), Hamilton market is overpriced by over 40% and will need a correction. So I am thinking whether I should sell it and capture the gain, and it will be safer for closing the next four properties. But on the other side, it's a great property with balanced cashflow, which is not easy to find in Ontario nowadays.

Appreciate everyone's input.

https://betterdwelling.com/can...