I recently read the book “Income for Life for Canadians” and it is a great read for anyone interested in buying real estate for investment purposes! It is specifically directed at Canadians and has some honest tips that most other investment “gurus” will not tell you. Be aware that most of these investment “gurus” are based in the United States and some of them have not even invested in real estate at all! The majority are making most of their income from sales of courses and seminars. The following is the main key points to this enlightening book:
– The nicer the home and area = the better the tenants! This is very important if you want passive income from your investments instead of dealing with problem tenants in bad neighbourhoods frequently. With a great tenant, you will have a stress free investment that goes up in value much more quickly.
– The best “deal” and the cheapest house is not really the best deal. Usually the worst house on the street will need work before we can find a tenant and that costs money as well as loss in rental income with the home is vacant. With a home in move-in condition, you can immediately advertise and place a tenant to receive rental income right away and avoid costly repairs. Many times the repairs will run into problems that can cost much more than the initial quotes. If the home needs minor repairs like paint and carpeting this can be okay as long as the work can be completed in a week or two after taking possession of the home.
– A rent to own program can be much more profitable than a straight rental property. One of the key benefits of this program is that the tenant-buyers act like owners and they want to rent and keep a nice home they can eventually own. These are some of the best tenants you will ever have! (I can help you set up this program as well as find any tenants.)
– Rent to own is buying into demand. Most tenants are only renting so they can save up to buy a home. Make this process easier for them with the RTO program.
– Some of the most successful investors, myself included, do not do a single thing before renting out the home. They are investors, not contractors. Good homes always rent out faster and for more money, to better tenants!
Please contact me today for a free real estate investment consultation (we do not charge fees like the seminars and courses charge! Plus we will find you real properties to look at!) I can be reached by phone at 647-287-8744 or by email at firstname.lastname@example.org