Hi,
My name is Sue and I am fairly new to REIN, but eager to learn and put into practices in the near future...
here is my information:
We live in Toronto and we have bought our principal property and paid off...we bought our investment property 2 years ago and rented out although we did not have any knowledge about Real Estate Investment...Recently I have read a few books of Don Campbell. e.g. How to invest in real estate and Real estate cycles, 97 Tips etc...and I started join a few events of REIN and reading all the useful information here!
I am very interested in Real Estate investment now and would like to put the knowledge into action very soon...one of the idea came up to me is to buy some student multiple units to rent in Wterloo area...
I need your advice as:
1. whether the student multiple unit rental is Same as regular resident rental or not? as we have experience with our regular rental now...in particular,
do we need special licence for it?
do we need special knowledge or skills for it?
any pitfall to be aware?
Any extra cost/expenses comparing to regular resident rental?
Will we always have Vacancy during the Summer and Winter break?
Whether the Mortgage will be the Same or higher criteria than regular resident rental property?
2. If we want to try with it,
Any suggestions to start with?
Any good realtors to contact?
Really appreciated for your advice and help!
My name is Sue and I am fairly new to REIN, but eager to learn and put into practices in the near future...
here is my information:
We live in Toronto and we have bought our principal property and paid off...we bought our investment property 2 years ago and rented out although we did not have any knowledge about Real Estate Investment...Recently I have read a few books of Don Campbell. e.g. How to invest in real estate and Real estate cycles, 97 Tips etc...and I started join a few events of REIN and reading all the useful information here!
I am very interested in Real Estate investment now and would like to put the knowledge into action very soon...one of the idea came up to me is to buy some student multiple units to rent in Wterloo area...
I need your advice as:
1. whether the student multiple unit rental is Same as regular resident rental or not? as we have experience with our regular rental now...in particular,
do we need special licence for it?
do we need special knowledge or skills for it?
any pitfall to be aware?
Any extra cost/expenses comparing to regular resident rental?
Will we always have Vacancy during the Summer and Winter break?
Whether the Mortgage will be the Same or higher criteria than regular resident rental property?
2. If we want to try with it,
Any suggestions to start with?
Any good realtors to contact?
Really appreciated for your advice and help!