Homeowners Are Real Estate Investors

A home equity loan in Toronto will get you started if you want to make money investing in real estate.

If you currently don’t own your home, that’s the best place to start. Many people never buy a home because they think they need a perfect credit or a big down payment. Talk to a mortgage agent in Toronto. You may be surprised that you can buy a home with low down payment.

In reality, a homeowner becomes a real estate investor. Whether they want to stay in their home for life or just a few years, their home should make them money. Many families have only one home, but they continue to get a second mortgage in Toronto. Some of these families made money from their homes by taking out the equity to pay bills. Other families purchased a more expensive home than their first one. For instance, a family bought a home for $105,000, sold it for $230,000 and then bought another home for $300,000. Next year, it gained more value than the first home. You can start to build your real estate wealth by just owning one home.

However, you don’t have to pay for all this equity on your own. If you split your mortgage payments with other people, your tenants will help you make the payments. This can actually buy the property for you over time!

How to Begin Real Estate Investing

Most investors begin with a home to live in and then set some money aside for a down payment for their first property investment. Contact Faizal Garasia, a top rated mortgage broker in Toronto, to know some ways on how to skip years of saving, which most people have a hard time achieving.

1. Refinance. If your home has increased its value, refinance it and use the equity for a down payment on an investment house. You must have enough monthly income to pay any negative between the rent income and the new mortgage payment. Some home owners have been able to acquire more than one investment house from one refinance transaction. We can help you get the best home mortgage refinance rates.

2. Move. Another way to get your first investment is to buy a new home and rent out your first home. If you have great credit, you don’t need to put a down payment into a new home.

3. Sell and Move. You can sell your home and buy two houses. Use your equity to put more down payment on the investment house.

4. Buy a vacation or second home. Our cabin's market price tripled in value in three years. We refinanced the cabin to purchase more houses and also kept funds to pay for the second mortgage in Canada, twice. We enjoy the cabin while we earn from it!

Make an action plan and start making money investing in real estate. Get in touch with one of the best mortgage agents in Toronto, Faizal Garasia, to help you start your investment.