Hello,
I live in Nova Scotia, where you can buy a duplex for $80,000. I`m in a smaller town, but thanks to
people moving west, "Help Wanted" signs are everywhere, meaning anybody who wants to work can, meaning
more good tenants with steady jobs.
Anyway, I just don`t want property appreciation, I want a good income as well, and I want the property paid off in ten years. The only way I see this happening is with 50% down.
Any problems with this plan, aside from accumulating the 50% down?
I like to play it safe and I don`t want a repeat of the early 80s interest rates, should they ever happen again,
forcing me into highly negative cashflow and eventual bankruptcy. I simply can`t justify just 10 or 20% down.
I own a couple of profitable businesses and live very frugally, so my 50% downpayment is slowly accumulating.
Thanks.
I live in Nova Scotia, where you can buy a duplex for $80,000. I`m in a smaller town, but thanks to
people moving west, "Help Wanted" signs are everywhere, meaning anybody who wants to work can, meaning
more good tenants with steady jobs.
Anyway, I just don`t want property appreciation, I want a good income as well, and I want the property paid off in ten years. The only way I see this happening is with 50% down.
Any problems with this plan, aside from accumulating the 50% down?
I like to play it safe and I don`t want a repeat of the early 80s interest rates, should they ever happen again,
forcing me into highly negative cashflow and eventual bankruptcy. I simply can`t justify just 10 or 20% down.
I own a couple of profitable businesses and live very frugally, so my 50% downpayment is slowly accumulating.
Thanks.