- Joined
- Apr 27, 2008
- Messages
- 4
Hi everyone!! When I registered on this site I thought it would just be another site trying to get me to buy something. I was truly amazed of
the wealth of information, advise and professionalism on this site. I am excited to join REIN and will be shortly.
I wanted to run through a scenario though that I was just on planning to do very soon and thought I better send it out to see if I should slam on the brakes
and wait till I join REIN.
I bought a condo in Calgary last year (37% down) from a previous house I sold with a buddy. I `m planning on renting it out and living at my girlfriend`s condo for a year and selling my girlfriend`s condo and buying something bigger for both us. The rent would cover all costs on my condo
and I could use that money i`m saving to either pay down the principal on my condo or a down payment for my next property that I will be living in.
I would be renting my condo for 1600/month x 12/months = $19200.00 cash I could use. I still would keep my condo as a rental property as its
in a good area, well managed condo and completley renovated two years ago.
As a very novice investor I`m probably missing many points I should be reviewing and wanted to get some insight before taking action..
the wealth of information, advise and professionalism on this site. I am excited to join REIN and will be shortly.
I wanted to run through a scenario though that I was just on planning to do very soon and thought I better send it out to see if I should slam on the brakes
and wait till I join REIN.
I bought a condo in Calgary last year (37% down) from a previous house I sold with a buddy. I `m planning on renting it out and living at my girlfriend`s condo for a year and selling my girlfriend`s condo and buying something bigger for both us. The rent would cover all costs on my condo
and I could use that money i`m saving to either pay down the principal on my condo or a down payment for my next property that I will be living in.
I would be renting my condo for 1600/month x 12/months = $19200.00 cash I could use. I still would keep my condo as a rental property as its
in a good area, well managed condo and completley renovated two years ago.
As a very novice investor I`m probably missing many points I should be reviewing and wanted to get some insight before taking action..
