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Discussion Starter #1
We own our principal residence outright and are considering buying a condo or two as investment income generators.

Can I please get some suggestions on what would be some good mortgage options for us? I am confused if our best option is a heloc, or remortgage our house as an investment loan.
 

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It's your decision but the last thing I would do is invest in a condo.
The amount being built is unsustainable, but that's just my opinion
 

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It's your decision but the last thing I would do is invest in a condo.
The amount being built is unsustainable, but that's just my opinion
Agreed.

Property management takes work and time and costs lots of money.

Given that RE prices are at record highs pretty well across the country, I don't think this is a good time to buy for investment purposes.
 

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You are both assuming things which are simply not true. We are seasoned landlords, having owned rental condos for many years now and it has worked well for us so far.

Please, I would like to get information on mortgages.
 

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We own our principal residence outright and are considering buying a condo or two as investment income generators.

Can I please get some suggestions on what would be some good mortgage options for us? I am confused if our best option is a heloc, or remortgage our house as an investment loan.
A Heloc or a new first mortgage would be eligible for interest-rate deductions so I think the rates available would dictate which to use. Obviously a Heloc is more flexible and could be increased with each new purchase with a minimum of extra costs.
 
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