Methods For Purchasing Rental Units-
Great example a 489rathgar.com
Investors and "astute" buyers look at homes as a way to make money. You first need to be realistic with what you can afford and how far your money can go in today's market. You need to be smart and look to future potential which is the best way to start.
1. You need to focus on the right area, one that is conducive to growth and income potential. It may be a little more money than you initially wanted to spend, but you will have greater chances on your return. If you buy a home in an area that is prone to negative stigma, it may be less money but may give you more head aches and cost you more money in the end. Remember...Location location location. It is preached for a reason.
2. Decide what type of investment property you are interested in. It may be a single home, a duplex or an apartment block. Each require different needs.
3. Are you looking to purchase something that requires work, in order to purchase for less or a place that is ready to rent as soon as you take ownership.
4.Your capitalization rate is the ratio between annual net income a property is producing and it's present value. Basically what money is left from paying all "bills" for the property and the amount you paid for the investment. Different rates apply to different types of properties.
With the volatility of today's economy and stock market many are finding that real estate is a great way to make their money work for them. With Winnipeg's very low vacancy rate many are struggling to find places to rent. Whether you are wanting to buy a place for your children to have for later on, a retirement home for yourselves or a "money maker" in later years as it appreciates, I would gladly sit down with you to discuss the best options for you and your families future goals.
ALISON AND THE CITY