All Forum Posts by: Arthur Hau

If you can figure out a way to make your home into two units with the funds from the bank without making it a legal duplex then you could Airbnb 2 units instead of one and this would probably create a lot more cash flow for you.

Best wishes and you seem to be on the right track!

Hey @Roy Cleeves, that's a great suggestion and will definitely look into that!

0 Votes

Originally posted by @Chris Baxter:

@Arthur Hau welcome to BP! It looks like we are missing part of the story... why is your bank only giving you 36% LTV on refinance? Is it due to limitations on income or are you carrying a ton of debt? If you can truly only pull $130k out, why would you put $50k of that into ETFs? You can accelerate your returns by leveraging that same $50k into $250k of real estate....

Hello @Chris Baxter!

I believe it is due to income limitation? I make 63K a year and my only debt left is 10K in a car loan which should be done by this year. Is there any other way I can pull out more equity without increasing my income currently?

I thought maybe it would be better to diversify my money into other investments as well instead of putting it all into real estate, but that's why I'm here! Trying to learn as much as I can and leverage my money in the best way possible.

0 Votes

Hello fellow investors!

My names Arthur, I am 28yo looking to connect and build my real estate portfolio.

Quick Summary

I purchased my home in 2017 on Rice Lake in Keene, Ontario. At the time i was working in Peterborough, all was dandy until I took a new job in 2019 which requires me to travel a lot. Luckily for me, my girlfriend lives with her parents in Mississauga and is only 15 mins away from the airport, and they have been extremely cool in letting me stay there while my home collects dust. So I thought maybe I could rent out or air bnb my home since I'm gone most of the year.

But before I do, i would like to fix it up a bit and do some general landscaping to make it homey and welcoming. Would anyone know of any contractors nearby? I would also like to get in touch with some property managers as well! I have just refinanced my home with a bank and the appraisal came in at 890K but only got approved for 320K. I currently owe 160Kish left on the mortgage and so the bank gave me a loan of 130Kish at 2% fixed but im planning to use 50K of it in etf's investments.

I am looking to use some of this money for renovations and hopefully get some cash flow out of my home. I was also curious if there was a lender that would potentially give me 65%-75% LTV on my property instead and I could use this money for a second unit (looking into a duplex or triplex).

Is this plausible in my current situation, or am i way over my head?

0 Votes

All Forum Posts by: Arthur Hau

Arthur Hau has started 1 posts and replied 3 times.

Post: Starting out! Looking to connect and get some tips

Post: Starting out! Looking to connect and get some tips

Post: Starting out! Looking to connect and get some tips