Investment properties here on the West Coast don’t come cheap however on the flip side, rental income is among the highest in all of Canada and the cap rates are often incredibly good. Whether you are a savvy experienced investor or a first-time investor, here are a few basic tips when considering an investment property purchase;
Getting a mortgage for an investment property isn’t as easy as borrowing for your primary residence – you’ll need at least 20% of the purchase price for a down payment, and only a portion of the income you get from rent will be considered in qualifying you for a mortgage (usually 80%). For commercial property investments, you’ll likely need a down payment of 50%.
2] INVESTMENT OBJECTIVES:
There are three ways to make a return on your real estate investment;Continue reading →