All Forum Posts by: John Wesbrook
John Wesbrook has started 2 posts and replied 5 times.
Originally posted by @Scott Innocente:
Canada looking to increase minimum mortgage down payments from 5% to 10%
Canada is removing them 5% down payment option on a CMHC mortgage. Guess what that means? More renters for longer periods of time.
It amazes me how much this government is trying to screw over Canadians and make it harder for them to own real estate.
Post: Canadian Version of Section 8 Housing
- Posts 5
- Votes 0
Originally posted by @Account Closed:
New Brunswick has an affordable housing program, and I've analyzed properties where some/al of the units are subsidized: https://www2.gnb.ca/content/gnb/en/departments/social_development/promos/affordable_housing.html. Here is the Ontario program: https://www.ontario.ca/page/af... It has a link to investment in the program. Details on the Social Housing Investment Program are here https://www.hscorp.ca/our-prog...
Thanks. I'll have a look at these links.
Post: Canadian Version of Section 8 Housing
- Posts 5
- Votes 0
Everything I've found through my own research has frustratingly been about how to get into affordable housing as a renter rather than how to list a property as a landlord. Where can investors find information about how to offer their properties under public housing programs, how much the government will pay the landlord based on unit size and so on? I am based in Ontario. If any investors on here own public housing units, I'd be very interested in hearing your experiences as well. Thanks
Originally posted by @Account Closed:
A small number of interest-only mortgages may still exist in Canada (see https://www.theglobeandmail.co... ) but I don't think you'll find a lender willing to extend these to investment properties. More importantly, principal pay-down is one of the key accelerators in wealth creation in real-estate. Why throw it away? If cash-flow is so tight on the investment that it barely cash flows with conventional financing, you should probably look for a better investment
I've run the numbers on a couple of listed properties and they would be cashflowing decently if I was making interest+principal payments every month. I'm interested in two-year interest only payment option because that would allow me to build up capital faster for a subsequent investment property acquisition.
Hi guys,
I'm currently aggressively saving for a down payment with the goal of getting into the student rental market. Once I get my first property, my goal would obviously be to maximize cash flow. In that regard, I've heard of financing terms in the US where the lender allows you to only make interest payments for the first two years of the loan and start paying down the principal from the third year onward. Are such terms typically available to first time buyers in Canada by the big five banks?
Thanks!