There is a new government program coming out which is intended to help first time home buyers purchase places under $590,000 to individuals or couples who have a household income of less than $120,000.
It comes in the form of an equity partnership where the government will contribute 5% for a resale or 10% for a new build.
The details aren’t final and it isn’t guaranteed however in this episode I talk about how someone might be able to anticipate the trend in this segment of the market to invest in it.
One area would be to anticipate this influx of buyers and try to buy on the low end and ride the wave up and then sell in three years or even hold the property for the long term.
During this time frame one would rent out the property to create and income and hopefully be cash flow positive.
While this is a forward looking statement, disclosure must be written to say that this outcome is not guaranteed.
There are a number of factors to consider when looking at a rental property such as the market, rent and number of units within the property.
In this episode I talk about locations and considerations. Enjoy!
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