The mortgage question - Variable or Fixed?
If I had a nickel for every time this question has come up in discussion ….
First, let’s discuss some mortgage mechanics and terminology (this will come in handy later). In essence, a mortgage is a loan secured by the property it finances. For illustration purposes*, we will use a loan amount of $101,000 with monthly payments of $1,000 and an annual interest rate of 6%. The following illustration provides a high-level overview of the mathematical relationship between the interest rate, the loan amount and the monthly payments:
10 Steps to Finding the Right Investment Property for a Furnished Rental
You've made the decision to purchase an investment property and after some preliminary number crunching, you’re considering marketing it as a fully furnished luxury rental. If you have done your research and your analysis is in the right ball park, you will have realized that on average, you can earn anywhere from 25% to 50% more rent using a furnished rental business model. Furthermore, depending you how you shop for furniture, this 25%-50% margin should be enough to offset the initial cost of the furniture within the first 2 years.
Entertainment in Toronto
Toronto today has become an alluring urban center catering to anyone looking for their preferred form of entertainment. Here are some must see neighbourhoods during your stay in Toronto.
Toronto Places To Visit
Toronto is one of the most diverse cities you will ever visit. Different ethnic neighbourhoods offer a variety of culinary samples from "back home":
Little Italy
This neighbourhood boasts Italian cafés and plenty of restaurants for those who enjoy traditional Italian cuisine. The locals in this neighbourhood are quite patriotic, which becomes highly apparent during international soccer events where flags adorn the streets, along with multitudes of fans. It is worthwhile spending an evening in this neighbourhood to enjoy a gourmet Italian dinner, a café latte at "Café Dimplimatico" and some gelato at "Sicilian Ice Cream"
Finding the Right Property Manager in Toronto
So, you've made the decision to purchase an investment property, or to turn your existing condo or loft into an investment property. A decision needs to be made soon and you're beginning to think about renting it out as a luxury furnished apartment. The first decision you will be faced with is whether to manage it yourself or hire a professional property manager. Here are two important things to consider when making this decision:
The Furnished Apartment Market in Toronto
