Nothing drives me crazier than when somebody says “I can’t afford the down-payment ” or “I can’t afford to save”, but they are driving around a car that leases for $750/month!
This post was inspired by a new investor client that was thinking of getting into his first property. He had done the meetup’s, the courses, and tons of research on the areas he wanted to invest and was really prepared so I assumed he would have no problems financing his first purchase.
He had decided that since he was young and had time before getting married and having a family, he would purchase a duplex. He would live in one unit and rent out the other. He had found the perfect property that needed some work but he was able to get it for a steal – in Hamilton no less!
As a mortgage broker, I am lucky to work with investors and help them start and/or build their portfolio’s. One of my investors’ recently shared his experience of selling one of his properties and how Home Staging made a difference for him in standing out amongst the competition!
As a past home stager, I was reminded how sometimes we overlook important aspects of a property or have our eyes on the wrong things, when looking at all the options in the marketplace.
The Ontario New Residential Rental Property Rebate (NRRPR), is available to any investor in the province, who purchases a new home or condo to rent out. So if you are an investor, have you claimed your HST rebate yet?
There are a few rules that one must follow:
#1 – the buyer must close on the property first and then apply for the rebate
#2 – if it is rental property, you must have a signed tenant lease and if you are purchasing as an owner-occupied property to live there, you must show ownership Continue reading