TenantPrifle_small

There are so many amazing investors to learn from but one that I admire the most agreed to share her tips on why knowing your tenant profile, should be one of the most important things you keep in mind before buying that investment property.

 

For instance, when she goes property shopping into a specific market, she always has her tenant profile in mind before looking at investment properties.  Specifically, she likes having young families with children so she will look for properties near great schools and with 3 bedrooms and 1 ½ or 2 bathrooms; or she might like to attract a single mom and her children and thus will look for a home that either has two units (upper and lower unit) or a house that can be converted easily and legally to two units (upper and lower) or two side by side semi’s. Again, in this instance she would look for a property near the best schools and nearby shopping areas, as it will be highly attractive to families with children and for ease and convenience in their busy lives.

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US investing_small

We have all been keeping an eye on what has been happening with our neighbours to the south and wondering how the so called Trump effect will affect us in Canada.

Many of my Canadian clients who have been investing in many US markets continue to pursue investing in the US as they don’t feel that the Trump effect is something to worried about.

Furthermore, with low property prices, low vacancy rates, high cash flow and most importantly no bidding wars, there are many opportunities to get into the market without breaking the bank – even with the exchange rates as they are!

Many of my clients, myself included still plan to invest in the US but are wondering what options exist for financing, so I thought this would be a great primer on how to finance your properties as a Canadian investing in the US.

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New Years Pic - Small

January is a time of year that new resolutions get made and also broken! For instance usually try to start some kind of diet or exercise program, only to give up by February.

For those that are looking at their debts – especially after Christmas with higher spending than usual, they may endeavour to start a budget or stick to a budget or even get some help with credit counselling.

For investors, this may be a great time to reflect on the past year’s successes or misses. For instance at the start of the previous year, you may have set a goal to buy 1-4 properties during the year or you may have wished to start lending your money instead of becoming a landlord or you may have started off great only to be brought to a full stop due to the inability to qualify for a mortgage or lack of a down payment.

So what do you do when your credit has suffered, you have credit issues or debt issues and you cannot qualify?

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Property Shopping_Small

There is a clear distinction between shopping for a property as an investor and as a homeowner.

As an investment property, you may be looking at properties that need lots of work or may have smells that you would avoid as a potential homebuyer. Recently, an investor I met, said “the smell of poo is the smell of money”. While that is gross, it is also true! As an investor, the worst shape the property is in, the better the deal you will get. Remember the money is in the buy!

On the other hand as a homebuyer, in most cases you are looking for a turn-key property and one that you can call home for years to come.

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