Buying rental properties can make you rich!
When you think about buying real estate, the first thing that probably comes to your mind is buying your first own home.
However, buying real estate is about more than just finding a place to call home. Investing in real estate has become increasingly popular over the last 70 years and has become a common investment vehicle.
Are you interested in buying an investment property?
You probably hear stories of quick flips (buying a home, renovating it, and reselling them at a much higher price), but renting out your investment property is the true core of real estate investing.
Renting generates a steady monthly paycheck that covers your mortgage payment, property taxes, utilities and upkeep.
In 80’s we used to buy properties using “No Money Down” strategies.
Many investors purchased properties without using any of their own money, renovated them for quick profit (flipping) or rented them and waited 15 to 20 years before using gained property equity to purchase more real estate.
Some purchased just 20 properties, waited until each appreciated by $50,000 and then sold them all for $1,000,000 profit.
That is why buying rental properties became so popular among average people just like you.
Well, times have changed…
Today you need some of your own cash for a down-payment, but I have many lending products where I can help you with as little as 10% down-payment to get started investing in rental properties.
In some harder to place cases, I use private lender mortgage funds and in other cases I will use institutional funds where you’ll get the lowest mortgage rate possible.
If you can put together a larger down-payment and purchasing duplex, triplex or fourplex with value say below $900,000 in Toronto then you may be able to borrow up to $750,000 dollars.
This way you will have positive cash-flow which will help you to purchase another investment property faster.