All Forum Posts by: Steven Coppola

Hello BP! I'm 21 years old. You might take this into consideration below....

Say I buy a duplex and house hack. What do you guys think is a better strategy.

1) I move out right now and buy a duplex, and put down 5% because it my first residence. I get to hang onto more cash because I'm only putting 5% down. Say my tenant pays off 50% of the mortgage monthly and I'm paying the other half and not cash flowing but I'm building equity. Or......

2) I keep saving my money with no debt to my name and buy a duplex in 3-5 years with 20% down and have enough cashflow to pay off my monthly mortgage.

What do you guys think is a better strategy?

Thank you

@Steven Coppola this is in Windsor Ontario, Canada keep in mind. I forgot to out that

Hey BP! My parents own a 6 unit apartment. If I buy it off them then live in one unit and rent out the other 5. Will I still qualify for a lower intrest rate and mortgage rate because I live In the building. I know this works with muti family homes. But does it work this a 6 unit apartment. Looking forward to the responses!

@Roy N. Than you for the response! What about a 6 unit apartment. Could I still qualify for owner occupied intrest rate and mortgage

Hey BP!! How much down payment do you need on a rental property if you are living in it in Ontario, Canada. I know in the U.S you can qualify for lower intrest rate and lower down payment. Is it the same in canada?