Quote:
Originally Posted by gladaki
Not sure but if we do calculation on assumption that you paid 5 % downpayment. How much of the rent till now went to pay off principal amount ?
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We paid 20% down to avoid paying CMHC. I think we paid off about $45k of the mortgage so far. However, the property is definitely under the water by about $20k-$30k. Add in realtor's commission if we were to sell, we just did this whole deal for no much gain, if at all. But thanks for the robust rental market, we didn't lose our shirts either and gained the insight that we didn't want to be a landlord.