Quote:
Originally posted by Val
Hi Vimal
Can you also go one step further, by giving us the best area for 2nd house as an investment,( in terms of getting rent and capital appreciation ) and also the approx. rate of interst on the second mortgage.
Thanks
There are many places throughout the GTA for an investment property.
One of the more common investment properties among the Indian community, as we all know, is the 2 Unit property with upper and lower levels rented out separately, with separate entry to both units. You can see these properties scattered throughout the Rexdale/Etobicoke areas, East Markham, and various locations throughout Scarborough. In terms of capital appreciation in these areas, you can't expect monstrous gains in the short term unless the neighbourhood is fairly new.
The way I look at it for my personal investment purposes is A: If there is a rental demand in the area? B: Does my rental revenue cover my fixed and variable costs per month? C: Is it a positive cash flow property as Jayaram had mentioned previously?
I'm personally looking into more multi-unit properties as an investment tool to add to my portfolio. Certain triplexes in the DT core have peaked my interest in the last little while....we'll see what happens. I recommend for you to read the series of books by the author Don Campbell which has some very insightful RE information related to the Canadian RE market The last one I read was 97 Tips for Canadian Real Estate Investors. It's simple to understand and very handy if you're looking into investing into more properties.
-----------------------------------------------------------------
Vimal Patel, Realtor
Homelife Royalcorp Real Estate Inc., Brokerage
Cell: 416-887-3745
Office: 905-856-6611
Fax: 905-856-6232
vimal.patel@gmail.com
http://www.vimalpatel.ca" rel="nofollow">LINK