- Joined
- Oct 14, 2016
- Messages
- 2
Hello,
I am looking for some advice. I am looking to get into real estate investing. I have a partner and we are thinking of starting off flipping houses.
With that said, currently I am renting a condo. I am unsure of what my next steps should be. Should I continue to rent my condo while we flip houses as it may allow me to be approved for a high mortgage? or should I get a townhouse/condo for the time being? or should I buy a house and rent out the basement? I wouldn't want to live in the house we are flipping as that would require frequent moves.
The obvious thing to me is to buy a house and rent out half but I also don't want that to hinder our ability to buy a house to flip either. Perhaps, this is a question I should direct to my mortgage broker but I would like to hear some experienced investor's feedback. FYI, I am in Saskatoon.
I am looking for some advice. I am looking to get into real estate investing. I have a partner and we are thinking of starting off flipping houses.
With that said, currently I am renting a condo. I am unsure of what my next steps should be. Should I continue to rent my condo while we flip houses as it may allow me to be approved for a high mortgage? or should I get a townhouse/condo for the time being? or should I buy a house and rent out the basement? I wouldn't want to live in the house we are flipping as that would require frequent moves.
The obvious thing to me is to buy a house and rent out half but I also don't want that to hinder our ability to buy a house to flip either. Perhaps, this is a question I should direct to my mortgage broker but I would like to hear some experienced investor's feedback. FYI, I am in Saskatoon.
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