Quote:
Originally Posted by willystyle
I think what 4444 is trying to suggest is that, it's nearly impossible to find a residential property in Vancouver that can generate a positive cash flow as an investment property. On the other hand, it's quite easy in the states.
To elaborate on what you posted earlier concerning renting investment properties, do all mortgage policies in the States restrict borrower's (non-resident) from renting out their properties?
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yes, I have only found 1 (through A LOT of work and meeting with many banks in Phoenix) that will allow me to have a mortgage on a property that I can rent out - but i must spend 1+ day per year in it, thus it has to be a weekly vacation style rental - returns are lower on these properties due to vacancies
other than that, you just won't get mortgages for investment properties - I'm fortunate that I have been offered them for my investments, but they are not at the kind of rates you'd see here - definitely still great investments, but would be amazing if i could get a 5 year at 2.99%!!!