Pardon my math - Correction on my previous question
by Adam
(Barrie, ON)
My apologies on the back of the napkin math I provided on my earlier question titled 'Rent-to-Own Strategy Still Viable given Canada's Strict Down Payment Requirements for Investors?'.
I downloaded the free ebook, read it one night, got excited, then deterred when I though the strategy was useless given a 20% downpayment requirement in Canada. I basically did not factor in that one receives the downpayment back. Please see the attached for a more detailed run of the numbers.
At the end of the day, I do not see a way to for a new investor to be able to take the bottom line profits from one house to be able to reinvest into two or more properties going forward. It's definitely an amazing ROI. But I can't see a way to leverage it on other properties going forward without having to dip into my own pocket for another downpayment such that I can buy two properties (one from the profits and one from own pocket). The cost of doing business. Please enlighten me.
Thanks in advance for your time.
Cheers,
Adam
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