Investment Property
Acquiring an Investment Property
Buying a property and renting it out can be a good way to steadily build wealth. Whether you're looking to acquire a condo, house, multi-unit property to add to your investments, planning a successful venture starts with understanding your mortgage financing options.
There are unique aspects to financing rental properties: mortgage lenders typically expect a down payment of at least 20% for a conventional mortgage. Another option is to draw on the equity from your principle residence or another rental property. What many prospective buyers don't know is that there are lenders that will allow up to 80 per cent of monthly rental revenue as "other income" when approving a buyer for financing. Lenders have various rules when using rental income to help you qualify. Allow us to help you find the “right” lender.
At Invis-Feisal & Associates we can introduce you to your mortgage financing choices and can offer guidance on the ins and outs of financing investment properties. In addition, your accountant can advise on the tax implications and risks involved in your investment, and your realtor can help with collecting sound information about local rental and real estate markets.
and start building your wealth.
Shimona was friendly, efficient, helpful and responded quickly to any concerns that may have risen. THANK YOU SO MUCH!! Shimona Rocks! Elizabeth T.
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News Update
Highlights of B.C.'s 2012/2013 Budget
HST to PST Information Bulletin - February 21, 2012
The province will transition back to the Provincial Sales Tax (PST), which will replace the Harmonized Sales Tax (HST), on April 1, 2013. Until then, the province has announced transitional rules for new homes which take effect April 1, 2012.
Kevin Falcon announces HST transition rules for new homes.
British Columbia will return to the PST on April 1, 2013.