Use equity to buy another rental property
Hey all,
My wife and I are up for mortgage renewal in a few months and on our rental condo and are looking at using the equity to buy another townhouse to rent.
We have approximately 120k in equity and rental rates in Sherwood Park have always been pretty high. I think we'll be able to come out way ahead on both places in 5 years, even with the higher rates.
Anyways I can't say we're the most financially knowledgeable people so does anyone know the best way to do this?
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