Rental Property Purchases

In the last couple of years, CHMC and other insurers have stopped insuring rental properties meaning that to buy an investment property you will need 20% - 25% down payment. When considering the purchase of a rental property there is one key factor that must be in line. Cash flow! If you are out of pocket every month on a property, it is not a good investment. You need to ensure you are bringing in enough rent to cover the mortgage, taxes, strata fees and insurance. For more information about buying or refinancing a mortgage, call me today!