- Joined
- Jul 19, 2015
- Messages
- 9
Hi,
I'm a 28 years old hearing impaired guy living in Oakville with my mother and I have decided to get into real estate investment. I'm making 30k/year as a head pastry chef at a 400+ seats restaurant in Oakville for almost 2 years and I saved up almost 70k.
Initially I thought of buying a condo, live in it and increase in value over time and sell it for profit. But when I read articles regarding to condo that they don't always increase in value comparing to a house which made me think.
The bank allow me to have a mortgage up to 300k but since Oakville is expensive and I can't afford it with the money I make at my job. So I thought I would buy a new townhouse somewhere like kitchener, barrie, cambridge, milton, waterdown or other upcoming cities and rent it out and let it increase in value and sell it for profit or use the extra cash flow to build up a down payment for my own place.
What do you guys think?
Thank for any advices you can give me
I'm a 28 years old hearing impaired guy living in Oakville with my mother and I have decided to get into real estate investment. I'm making 30k/year as a head pastry chef at a 400+ seats restaurant in Oakville for almost 2 years and I saved up almost 70k.
Initially I thought of buying a condo, live in it and increase in value over time and sell it for profit. But when I read articles regarding to condo that they don't always increase in value comparing to a house which made me think.
The bank allow me to have a mortgage up to 300k but since Oakville is expensive and I can't afford it with the money I make at my job. So I thought I would buy a new townhouse somewhere like kitchener, barrie, cambridge, milton, waterdown or other upcoming cities and rent it out and let it increase in value and sell it for profit or use the extra cash flow to build up a down payment for my own place.
What do you guys think?
Thank for any advices you can give me