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Today: 17.01.2018 - 21:44:38
   Canada Mortgage Hub Discussion Board -> Mortgage Montreal -> Should we invest in another property?
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poutnikov

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Should we invest in another property?
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Post # 1.

nikeguy999

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I would say go for it. the almighty dollar is getting older by the minute. put it to work for you. If you rent it out then thats great. real estate has tons of perks for taxes and you dont even have to use your own money in most cases....good luck
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pressburo

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Be reasonably sure it'l keep paying for itself if there's an econ down turn.So I'd have a cushion maybe in the form of higher downpayment so you'r monthly carrying charges would be less.When I was investing in the middle income suburbs of Philly, I chose relatively high dp's to give me that cushion.My biz associate did the opposite: used his Veterans mortgage options to buy w/ a "double no down," where he financed the entire mort amt, plus he financed the closing costs of abt $5k.That left him w/ more money to buy more properties the same way.The econ turned and he couldnt meet some of his high monthly payments and I became his banker in part, plus he had to sell some of these single family homes at a loss.
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