Realstate investment

[bashir26]

I have about $10,000 in cash and I wanted to know if now is a good time to buy a real-estate investment property? Are tenants hard to find? Is my down-payment enough?

[bobby_lu]

I think you should talk to ZorroAMG

[tm88]

I wont speak on behalf of tennants....

however i can let you know $10000 is more than enough for a downpayment.
If you really wanted you could go 0 down (pending credit) until oct 15 08. After this CMHC has changed the rules and there will be no 40 yr mtg or 0 down.

Real Estate is one of the best investments in the world.

[ExtraSlow]

There are a lot of ways to invest in real estate without buying the property yourself. ZorroAMG has a good one, and there are also Real Estate mutual funds, REIT's etc.

If it was me, and I had only $10k, I would be checking these options out instead of looking at buying property.

If it's not going to be your residence, don't you need 25% down?

[Canmorite]

Originally posted by ExtraSlow

If it's not going to be your residence, don't you need 25% down?

No.

[ZorroAMG]

Hey Bobby_Lu, thanks for the recommendation :)

Bashir, I have a 10K min investment that will return 137%...PM me if you want the details.

[Civ2NR]

Originally posted by ZorroAMG
Hey Bobby_Lu, thanks for the recommendation :)

Bashir, I have a 10K min investment that will return 137%...PM me if you want the details.

Ummm did you mean to say 13.7% on $10k? If not, where do I send a cheque and who do I have to kill?

[canuckcarguy]

Originally posted by tm88
I wont speak on behalf of tennants....

however i can let you know $10000 is more than enough for a downpayment.
If you really wanted you could go 0 down (pending credit) until oct 15 08. After this CMHC has changed the rules and there will be no 40 yr mtg or 0 down.

Real Estate is one of the best investments in the world.

0% down on a rental property you're not going to live in, through CMHC? I don't think so...

As far as real estate being one of the best investments in the world?
Well, sure. And one of the worst. People have made fortunes and lost fortunes. the OP is asking if this is a good time to buy... and I would say, if you're only playing with $10K, you can lose all of that awfully fast in this market...

[barmanjay]

Originally posted by bobby_lu
I think you should talk to ZorroAMG

+1

I read up a little bit,.. his development plan :thumbsup:

Good investment for future returns

[ws_on99]

Originally posted by Civ2NR


Ummm did you mean to say 13.7% on $10k? If not, where do I send a cheque and who do I have to kill?

LOL.... he doesn't say that 137% in how many yrs.... I won't be surprised if it's a 5-10 yrs dev. plan

[The Cosworth]

maybe the 100% means you get your 10,000 dollars back :rofl:

[broken_legs]

link posted says annualized return of 27% so looks like about 5 years

[barmanjay]

Originally posted by broken_legs
link posted says annualized return of 27% so looks like about 5 years

not bad

2700/year return

so 100k would yield a 27k return every year

200k and you can live off the interest for 5 years ok

I don't know if you can just pull out the interest yearly in this project tho

[max_boost]

Originally posted by bashir26
I have about $10,000 in cash and I wanted to know if now is a good time to buy a real-estate investment property? Are tenants hard to find? Is my down-payment enough?



Originally posted by ZorroAMG
Hey Bobby_Lu, thanks for the recommendation :)

Bashir, I have a 10K min investment that will return 137%...PM me if you want the details.


Bingo!

It's a solid plan. Nothing to worry about. Worry free investing FTW!!

[whodiman]

Originally posted by ExtraSlow


If it's not going to be your residence, don't you need 25% down?

Techinically yes but there are lots of people who commit find ways to put much less down and/or commit mortgage fraud. Lots of people move in for 1 mth and then move out and rent it out. That is one shady way to do it.

As for the 0% until Oct, isn't that only available if you have already been pre-approved? I thought if you haven't already been pre-approved it's too late for new approvals.

[ZorroAMG]

Hey all, sorry I didn't reply here sooner.....a flood of PM's for some reason! :)



Originally posted by Civ2NR


Ummm did you mean to say 13.7% on $10k? If not, where do I send a cheque and who do I have to kill?

No, 137% ROI for the 5yr bond maturity term.


Originally posted by barmanjay


+1

I read up a little bit,.. his development plan :thumbsup:

Good investment for future returns

Thank you Sir! Where's your cheque? :D



Originally posted by ws_on99


LOL.... he doesn't say that 137% in how many yrs.... I won't be surprised if it's a 5-10 yrs dev. plan

5yr maturity term but more likely a 2-3yr project, as we are already way ahead in the development stages.



Originally posted by The Cosworth
maybe the 100% means you get your 10,000 dollars back :rofl:

You DO get the 10K back, followed by another 13K ;)



Originally posted by broken_legs
link posted says annualized return of 27% so looks like about 5 years

Bingo!



Originally posted by barmanjay


not bad

2700/year return

so 100k would yield a 27k return every year

200k and you can live off the interest for 5 years ok

I don't know if you can just pull out the interest yearly in this project tho

The interest is paid at the term for this phase. We are having a flex-bond offering investment for the second phase that will have different interest payment schedules.



Originally posted by max_boost


Bingo!

It's a solid plan. Nothing to worry about. Worry free investing FTW!!

The truth, you speak, Sir! Stay tuned for a newsletter/update!

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[Subwoofah]

Is the 137% assured? :)

[D. Dub]

^^^^

Assured?

Did you want a blowjob with that too :rolleyes:

[Subwoofah]

;) Had to ask...

[max_boost]

hahaha

Nothing is assured and there will always be risk but this is an excellent project. Good opportunity to diversify your investments away from the stock market.

[Subwoofah]

Real estate stocks in the US anyone? Any thoughts on Fannie Mae and Freddie Mac?

[E-MARK]

Originally posted by tm88
I wont speak on behalf of tennants....

however i can let you know $10000 is more than enough for a downpayment.
If you really wanted you could go 0 down (pending credit) until oct 15 08. After this CMHC has changed the rules and there will be no 40 yr mtg or 0 down.


10K is not enough. Remember, he has to pay the hidden fees; lawyer, CMHC, house inspection, ...
Then for sure he will need to do a few clean ups and repairs.

Besides, nobody has asked him the two BIG questions.

1. Do you have decent credit?
2. Do you earn enough money?

Use a mortgage calculator like this one.
http://www.ingdirect.ca/en/tools/calcs/Borrowing.html

BTW, late September thru to the end of October is the BEST time to buy. I have followed the Calgary market for 6 years now and every year is the same. A flood of houses, and lower prices.

October might be a good time for you. I think you need to save a few thousand more dollars and get preapproved.