I am in the process of getting my third investment property (both were done long time back with no understanding of market factors) .
Property 1 is paid off in Mississauga (GTA) and if nothing taken out will provide a positive cash flow of $1000 . Current property value exceeds 490,000 .My question is which scenario out the two is more favorable for in buying the third one, looking at the current market situation in Greater Toronto area .
Scenario 1 Refinance and get 20 % from the one in Mississauga and let the positive cash flow go towards the refinance payment.
Scenario 2 Use my own money from my other business corporation to pay for downpayment
Looking for different viewpoints and pros/cons on th
Property 1 is paid off in Mississauga (GTA) and if nothing taken out will provide a positive cash flow of $1000 . Current property value exceeds 490,000 .My question is which scenario out the two is more favorable for in buying the third one, looking at the current market situation in Greater Toronto area .
Scenario 1 Refinance and get 20 % from the one in Mississauga and let the positive cash flow go towards the refinance payment.
Scenario 2 Use my own money from my other business corporation to pay for downpayment
Looking for different viewpoints and pros/cons on th