Hi, I am a real estate newbie and just bought my first investment property.
Sale Price :560K Down : 5% - used up all my saving Income from property : $3980 Cash Flow : +$100 after all expenses ( Made a rookie mistake of agreeing to pay utilities) Employment Income : $50,000K
How do I leverage in current GTA market to by my next property. I found a good property for 400K but don't know where to look for downpayment money
Rental Property Investor · Hamilton Ontario, Canada · Member since 2019 · 15 posts · 6 votes
7y
Hi Jeff,
Great to hear from you. I am also a new investor from Toronto, just finishing reno on my first triplex. I am going to rent the units and refinance. I am already looking for the next deal.
Toronto, ON · Member since 2019 · 16 posts · 3 votes
6y
@Jeff Varghese
Hey Jeff!
Would love to help you out. Maybe if I had a bit more information about your situation and property, we could figure out some strategies to get you your next property!
Hi, I am a real estate newbie and just bought my first investment property.
Sale Price :560K Down : 5% - used up all my saving Income from property : $3980 Cash Flow : +$100 after all expenses ( Made a rookie mistake of agreeing to pay utilities) Employment Income : $50,000K
How do I leverage in current GTA market to by my next property. I found a good property for 400K but don't know where to look for downpayment money
I need you to refer me to your mortgage broker.
How did you manage to get financing for over $500k with only a $50,000 income.. You credit score must have been 900