Cleo and others from Florida...

[cd34]

Originally Posted by artwilliams

Investors in Canada next at least 30% down to financing from a bank for rental properties.

Yes, but, will they finance a property that doesn't have an 80% occupancy rate? Down here we have condo's built during the real estate boom that are 20% occupied - and while the condos are a fraction of their original price, banks won't finance them at all.

[ArtWilliams]

That I don't know. The 30% down is for your typical condo that you lease out on a yearly basis. Generally speaking, Canadian financial institutions are much more conservative than in the U.S.

Originally Posted by cd34

Yes, but, will they finance a property that doesn't have an 80% occupancy rate? Down here we have condo's built during the real estate boom that are 20% occupied - and while the condos are a fraction of their original price, banks won't finance them at all.