Hello Everyone, I am from Alberta, Canada and I just purchased my first investment property. I will be moving into the completed separate basement and renting the 3 bedroom home above. I know I have to live in it for one year. I can save 25K to 30K per year to purchase more doors. What is the fastest way for me to increase my doors? How would you go about it? Any advice is welcomed and much appreciated!
There is no one fastest way to increase doors, but the usual suspects include finding/earning more money or do deals with seller financing or subject to just to name a few.
@Deanne Beltre I'm guessing you put less than 20% down and that's why you're saying you have to live in there a year, before moving out and buying another property with less than 20% down? It is a myth that you have to live there for a year. There is actual no rule like that. I would talk to an experienced investor-focused mortgage broker, and they can help you make a plan. If you need recommendations, you can pm me.
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