1. $600k cost, 2.99% 4 years fixed, 30 year term. you will pay $2520.43 per month.
2. closing cost $500k * 3% =$15k
3. $3700 rent plus utilities----Maybe
4.proepty tax $500k *0.8%=$4000 one year
your number is too positive.
sorry, if I offend you.
QUOTE (Ian @ Sep 15 2010, 11:23 AM) Hi Russell
How did you approach the banks re sloc`s--I have rates of prime and prime = .15-are those worth talking to me about.
Ian (sorry the question mark on my keyboard isn`t working!)
I called TD bank. no luck, HELOC is still 4%. Anyone got...
QUOTE (kornel @ Jul 21 2010, 07:21 AM)
Great meeting yesterday.
Thanks Ben for organizing the meetings and keeping the group going!
A big thanks to Adam Hoffman for taking the time to share his insights and lessons with me and the other rookies; It's great to have someone like that be open...
QUOTE (manojsingh @ Jul 17 2010, 12:34 PM) Hi Howard,
Go with Kevin and Thomas suggestion. Meet with people who already invested in these areas and get the input. Join mastermind group of these cities. One more suggestion meet with Kevin Boughen or any other mortgage broker who is investor also...
QUOTE (ontariolandlord @ Jul 13 2010, 07:23 PM) It`s a great start. You have taken the time to research real estate investing and that`s a good sign.
Toronto is an `interesting` market that has lots of ups and downs. Question: How far away from Toronto are you willing to invest?
2 hours drive...
I have studied all books of Don R. Campbell and Rich Dad. want to invest in toronto where I live. this is what I did:
1. set up funding. enough downpayment for 2 under 500k properties
2. looking for proberty
3. talk with 2 real estate agents. they are not REIN memeber. treat me just like house...