The true test of an investment property, in my opinion is the following:
1. Deposit range 5%- 35%. This is your actual capital investment. Most real estate investments should be considered at 35% down. Smaller deposits require additional costs that would be considered acceptable expenses - in my formula.
2. The income potential estimated should cover Condo fees, Taxes, heat and hydro, water and sewage, cable and telephone and 50% to 65% of the entire capital purchase price thus paying the mortgage if a 35% deposit is used.
To learn more and find out all of your options call me today and we can analyze the potential and risk involved in your investment property.
Don't forget they can be enjoyed by you as well. This adds value and should be measured.
CENTURY 21 Millennium Inc., Brokerage*