Hi All,
I am trying to buy a commercial property in Waterloo. It will be a VTB transaction of around $1.2m. It is my first real estate investment ( I have owned a rental townhouse for one year before). The cap rate is 10. interest rate could be around prime rate. I will be able to pay around 18% down, taken out of my primay residence by remortgaging. The selling agent said, the current tenants may sign long term tenancy agreement.
I will discuss with an experienced real estate agent and an accountant before making the transaction.
I am asking for any comment on the transaction from real estate investors. What caution should I take, if I am taking too much risk etc?
Thanks for your advice,
Mokles
I am trying to buy a commercial property in Waterloo. It will be a VTB transaction of around $1.2m. It is my first real estate investment ( I have owned a rental townhouse for one year before). The cap rate is 10. interest rate could be around prime rate. I will be able to pay around 18% down, taken out of my primay residence by remortgaging. The selling agent said, the current tenants may sign long term tenancy agreement.
I will discuss with an experienced real estate agent and an accountant before making the transaction.
I am asking for any comment on the transaction from real estate investors. What caution should I take, if I am taking too much risk etc?
Thanks for your advice,
Mokles