Quote:
Originally Posted by lorenavedon
will impact Calgary more than others because in Calgary the only people working on staff are government workers and about 5 other random people. Everyone is on contract and pay themselves in the lowest tax bracket or just dividends. This will impact contractors that need a legit salary to put a down payment. Also every second person in this city is horny for real-estate (investment properties) so they leverage properties against eachother with the lowest downpayment they can get. Very rarely do these people put down %20. This city is filled with "real-estate moguls" making $60k to $80k/year and leveraged to the hilt. We'll see where that lands.
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Wow, so much wrong in this statement. I'm guessing all your knowledge on investing in rental properties is "so and so said so" and not based on any actual first hand knowledge. As mentioned by WP, you can't put less than 20% down for an investment property.