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photon · 08-11-2007, 10:24 AM

We just bought a detached house for $308k.. with a bit of work we can suite the downstairs and will be able to rent the upstairs for at least $1200 and the downstairs for at least $800, which would cover the mortgage, taxes, etc.. get a bit more for the rent and it'll cash flow fairly nicely. It'd be a non-conforming suite though, which always runs the risks of the city taking it out.

But that way you could move into the upstairs and keep renting the downstairs to supplement your mortgage. Though not everyone wants to have neighbours downstairs.

You could also get a duplex, live in one side and rent the other, though that might be hard to get under $400k without going to the far edges of the city or even out.

So the places are out there to buy right now that make sense.

08-11-2007, 10:24 AM	#3
photon The new goggles also do nothing. Join Date: Oct 2001 Location: Calgary Exp:	We just bought a detached house for $308k.. with a bit of work we can suite the downstairs and will be able to rent the upstairs for at least $1200 and the downstairs for at least $800, which would cover the mortgage, taxes, etc.. get a bit more for the rent and it'll cash flow fairly nicely. It'd be a non-conforming suite though, which always runs the risks of the city taking it out. But that way you could move into the upstairs and keep renting the downstairs to supplement your mortgage. Though not everyone wants to have neighbours downstairs. You could also get a duplex, live in one side and rent the other, though that might be hard to get under $400k without going to the far edges of the city or even out. So the places are out there to buy right now that make sense. __________________ Uncertainty is an uncomfortable position. But certainty is an absurd one.