Investing in income properties is a prudent way to build your investment portfolio, enjoy tax benefits, increase your monthly income and support your overall wealth. Whether you are a real estate professional or just a smart investor, I am here to help you purchase your first investment property or your fifth! If you are planning to make your first rental purchase, some things to keep in mind:
Rental mortgages require a minimum of 20% down payment. However, some lenders will allow for a portion of this amount to be borrowed from existing equity or the bank of mom and dad.
Not all rental mortgages are created equal. Depending on the lender and the product, the way rental income is considered varies. I will help you choose the mortgage that gives you the most borrowing power with the least overhead.
Consider that if you invest in a multi-unit rental and live in one of the units, it could be considered owner occupied and get you a better rate with more flexible terms.
If you are ready to start your real estate investment journey, schedule a call today!