The Newbie from Toronto real estate market desire to learn
Hi everyone, I am from Toronto and I really want to get into the real estate investment in Toronto. I want to buy the condo and/or other types of properties and rent them out, but I am not interested in the flipping. However, I found out that it needs lots of cash for the down payment here (10% at least for the resident, 35% at least for the non-resident), and also the price in Toronto is spiking all the time. It does sound surreal to hear that someone owns 40+ condo or properties, especially in Canada. My strategy now is to pay cash for some condo from downtown to build up my asset and rent them out, and then using them to borrow the money from the bank. Am I on the right path? Is there any better way to do it in Toronto real estate market? Desire to hear someone who has experience in GTA market