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Originally Posted by bdjuf
Say there is a triplex $400,000
You buy it with 10% down, finance it for 25 years lets say
so you put $40,000 down and you have a $360,000 mortgage for 25 years
you rent it out, and you are pocketing 500$ every month after taxes and mortgage. With not much hope of great appreciation.
does that sound like a reasonable deal for getting your feet wet in the RE market?
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Yes that is a great starter deal. Will you make $500/month? Nope. Will you make great cash over the long haul? Yep. You are in Canada. I thought they had shorter term loans then that. Hit me on icq if you want some help.