Hi guys,
I just wrapped up purchasing a condo in Toronto and have found a renter to commit to a long term lease which would cover all the monthly expenses with a bit to spare.
I had a positive experience so far with the investment and I know not everyone will, but all the subs I visit make it seem like they wouldn't touch a rental property with a 10 foot pole. Yes you risk things breaking and vacancy or horrible renters, but you are allowed to get a credit check and request renters insurance. Also, some people make it seem like investing in an REIT would bring you the same profits as owning your own rental property, which sounds absurd to me.
Am I missing something? In my eyes, you're making money on the appreciation of the property on top of someone else effectively paying off your mortgage for you. Long term, I see huge profits for anyone with the means to get in. Yes there are risks, but there are risks in any investment and this one's pros really outweigh the cons/risk. Let me know your opinion.
Submitted March 04, 2017 at 06:02PM by tmfv http://ift.tt/2mojK33
