Real Estate newbie in Ottawa

9 Replies

Hello all,

I am newbie in Real Estate Investing and I am looking for some advice from experience investor.

I live in Ottawa area and I am the market still hot and I wouldn't want to lose the opportunity

I am a father of 3 kids and renting a place to live with family and I would like to start investing in real estate. Nevertheless, I am having difficulty to decide between buying and live in the house or buying and invest for rent.

If you were in my situation, what would you do first?

Thank you for you answers in advance...

1. Do you have a down payment saved up? As a house hack or buying your family a home to live in you do have the advantage of only needed a 5% down payment to get in. 
2. how is your rent? Have you been living in the same place for a while and have pretty cheap rent?

3. Is your family good with staying out for a while? 

@Nito Kunda   have you considered doing both?  Can you afford a duplex or a suited house so that you can live in the building and drive rent from it? Per @Tyler Stiller , this allows you to potentially qualify for a much smaller down payment (first time home buyer

The BP community refers to this strategy as 'house hacking'... Good luck!

Hi @Tyler Stiller thanks for the reply..

1. Yes, I can come up with 5% depending on the price of the house
2. My rent is the reason forcing me to consider buy or invest. I am paying $1900 per month for a 3 bedroom with 2.5 townhouse, and I think if I can find pay the same for a mortgage, It would benefit me more than the owner.
3. I don't understand by "family staying out  for a while"


Originally posted by @Nito Kunda :

Hi @Chris Baxter thanks for your comments but duplex can't be an option at the moment because of I am family of 5. Maybe after become an investor...

Hi Nito... a duplex simply means two dwelling units under the same roof. You are currently living in a townhouse.  Two townhouses together in one building (a very common configuration) is a duplex. You own both; live in one and rent the other.


Hi Nito,

I'm also based in Ottawa. House hacking might be a very good option for your situation. If I could start over I would most likely have done that. Feel free to contact me if I can be of any assistance locally.