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1st time investor starting from scratch in Canada, HELP

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norrad2005 | 18 Dec 2015, 09:31 PM Agree 0
Hey all

I am brand new at this, I have recently gained some capitol and am looking to invest in rental properties. I have never done this before and am not up to speed on all of the language and terms used. The opportunity I have right now is to purchase a house for $190,000ish with %20 down. The house is in great shape and is a beauty. This place has 6 rooms to rent to students at the local university for $500 / mth. Some of my initial questions:

- is this a good deal?
- Will I clear much after tax / insurance / utilities (supposing all 6 rooms are rented) I believe the mortgage with 20% down would be $700.
- Do I need to incorporate??
- I have been off work for over a year due to an injury, will I be able to mortgage just based on the fact I have capitol, or will I need a co-signer or are there other options.
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