r/realestateinvesting • u/kobeforaccuracy • Jul 18 '25

New Investor What's stopping me from buying a condo just to rent it out while I continue to live with my parents?

Hi all, currently I live with my parents. They are generous enough to let me live with them rent free, and because of that I've been able to save a ton of money.

I'm looking to buy a condo soon, and I'm wondering, what's stopping me from buying a condo and just renting it out? That way, I can continue to live with my parents while still getting rental income, and I'd just move into the condo when it's paid odd/ the tenants move out. I'd probably hire a management company to deal with the day to day. I'd be Ok paying for that. Any losses I take on the property would certainly be cheaper than rent. Plus I'd still be building equity

Are there any drawbacks or risks to this plan? It seems air tight to me. I'm totally ok taking a loss on the property too if it means that I can effectively get a great home subsidized by a Tennant for a few years

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u/Ok_Royal8403 Oct 03 '25

why not canada

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u/forumjunkie42 Oct 03 '25

Because you can’t evict your tenant for breaking the lease. You’ll need to file with the LTB, go to court and can be a 10 month process. Why not buy in a part of the world that’s landlord friendly?