The most obvious advantage of buying any income property is having other people payoff the debt on your investment property. And with interest rates low, there's no time like the present to jump in.
There are a number of decisions to be made with regard to owning a multiple residence property. From property management to occupancy rates, being an owner carries a lot of responsibility. It's a good idea to discuss your options with a financial advisor, a lawyer and an accountant before you start the process.
Mortgages for multiple residential properties are subject to governmental regulations Lenders may also have specific requirements for funding a mortgage of this type.
At The Mortgage Centre, we're experienced in working with multiple residential property mortgages. We'll provide advice on financing and shop the market to ensure you get the best mortgage to meet your specific needs.