Hey everyoneI was hoping to get some advice on a Las Vegas investment home I am considering on purchasing.The house costs 100,000 and I need to spend about 6,000 in upgrades. The house is 1500 sqf.I live in Canada so I would hire a property Management company to handle tenants. They charge 10 percent of the monthly rent and I can rent the home for approx 1000 a month.Other expenses include:Insurance: 480/yearTaxes: 950/yearMaintenance fee: 100/monthTenants pay hydro, gas, electricityI'm 26 years old, with no dependents and live with my parents. I do not want to spend my savings on a large down payment because I'm still saving to move out on my own in 2-3 years. I can take a line of credit for 106,000 for 2.69 percent.Do you think it's worth borrowing this money to do this? I figure I can put about 750/ month towards my Line of credit and pay about 400-500 from my own pocket a month. I make 4000/ month net but I purchase a lot of stocks per month and figure I can let the tenant build most my equity and if I need to sell the house in 3 years that I can sell the house for a little more than I bought it. Sorry for the rant, any advice is appreciated!Phmerc
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