Thursday, 2 March 2017

Tips on Buying an Investment Property

tips on buying an investment property


With the stock market being as volatile as it is and banks paying next to no interest on your money more investors are turning to Real Estate to invest their hard earned money. Many of the World's wealthy got their start with investing in real estate, you may not become the Donald Trump overnight but becoming financially stable is attainable. Follow these useful tips to start your journey to financial freedom.

Financing your investment

financing your investment


Financing your investment will be the first step in the process. Speak to your a mortgage broker and get pre-qualified. Depending on your financial situation liquidating of assets may be necessary to first get your feet wet in the investment game.

Work with an expert

work with an expert



When it comes to working with a REALTOR® the one size fits all doesn't apply especially when shopping for investment properties. Make sure to choose a Realtor® with extensive knowledge of the area regarding commercial and investment properties. Interview several agents and also ask for references from past client's. Some agents specialize in just this type of property.

Choosing the right investment property

choosing the right investment property

Once you are qualified and have good a idea on what you can afford, deciding on the type of property will be your next step. Investment properties include a wide range of choices including:

Single home- Start with with something affordable in a location that yields excellent rental rates. Research growth and market appreciation for the last 5 years. Try to predict future trends.

Multiplex homes- These often include duplex, triplex etc.These offer tremendous income potential and an excellent ROI. Make sure to check local zoning by-laws before purchasing to confirm they are in fact of legal use.

Motel- This type of property is much more involved. You would need to decide if "you" will run the motel yourself of hire a property manager. Location is also very important.Will the motel be located in a high traffic area or near a highway? Will it be in a seasonal resort town or city? 

Commercial plaza's or malls- you probably wouldn't jump into owning one of these properties until you've had some investment property experience. Commercial rentals offer more risk such as business's closing and possible high vacancy levels.

These are some of the more popular investment options but the list also includes laundromats,  car wash stations,gas stations, warehousing an so on.

Location is everything

location is everything

We've heard it a thousand times location,location, location! Well with choosing the right investment property location will be the key to your success.What are the current vacancy rates? unemployment rates?  Investing out of town, State or Province to find the right property may be necessary.

Don't just stop at one

The goal with any investor is to own as many investment properties as possible. With the success of your first investment use this as leverage to buy a second one and keep going. With perseverance and using the right tools you'll be on your way to success as an real estate investor.

To check out local real estate listings in Wasaga Beach and surrounding areas please visit my website at andrewweaver.ca.

Andrew Weaver
Sales Representative
Coldwell Banker Ronan Realty
705-331-2374












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Coldwell Banker Ronan Realty

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