Quote (Psycobone1 @ May 15 2023 08:23pm)
ya for renting out is good but buying a house or a condo its the worst time. The price are inflated and the interest is high.
Well if your mortgage is $3500 for a standard box home with basement suite. That’s inflated to all hell. It would prolly be around 3k but for arguments sake, we’ll say we add 500/ month to start a fix it fund.
Then rent out the top floor for 3000, rent out the basment for 2000.
That would be easily lower rent hoping to get long term, your pick, of the tenants You could also add 500 on both of those to stay even with average market.
All you would need is credit, and 15% down.
It is kinda the tail end of that though. Would still work in sublet towns (anything like 60-45mins from a booming town)
Problem is government taxes capital gains now.. so if you sold or were forced to sell.. you could lose a lot.