Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Buying a second property

GoinAllTheWay · 03-11-2015, 12:32 PM

I'd love some info on this too. Like Caramon and Jimmy, I'd love to have some investment properties. I bought a book called "Real Estate Investing for Dummies, Canadian Addition" and it has some good info in it.

I'm also an owner of a condo that I bought for $120k in 2000 (currently valued at $340k) and the mortgage is now getting pretty small. We'd like to hold onto the condo but use the equity to buy a house at some point.

Now if I'm understanding things, if I were to pull equity out of my condo, my mortgage would go up, yes?

03-11-2015, 12:32 PM	#7
GoinAllTheWay Franchise Player Join Date: Apr 2003 Location: Not sure Exp:	I'd love some info on this too. Like Caramon and Jimmy, I'd love to have some investment properties. I bought a book called "Real Estate Investing for Dummies, Canadian Addition" and it has some good info in it. I'm also an owner of a condo that I bought for $120k in 2000 (currently valued at $340k) and the mortgage is now getting pretty small. We'd like to hold onto the condo but use the equity to buy a house at some point. Now if I'm understanding things, if I were to pull equity out of my condo, my mortgage would go up, yes?