How To Make Money In Real Estate In 2014 – Abbotsford & Mission
Given the volatilities and uncertainties of the equities market, many Canadians wonder if they can fit real estate into their overall strategy. Here is our best tips to find out if you should invest in Real Estate in Abbotsford and Mission.
Many financial advertisers recommend having a portion of your portfolio in housing as hard assets. A good piece of real estate is like a blue chip stock. It won’t make you rich overnight, but it will perform well in the long run.
Experts say the secret to successful real estate investing in Canada is research. Get good advice and look for clues in sources such as the new Canadian census data. The pay-off is two-fold: ongoing cash flow and capital appreciation.
Here are a few tips you need to consider when searching for investment property in Canada.
1. Don’t be tempted to over stretch yourself, financially speaking. Think carefully about whether any potential perceived benefits from investing in property in general outweigh the risks associated with buying an expensive, slow to liquidate investment asset. And only if you are sure they do should you begin to research the Canadian property market for a profitable entry point.
2. Determine whether you are looking to work your investment quickly and turn it into a capital gain by buying low and selling high or whether you’re interested in realizing a regular income from the rental of a property for the long term. Your investment approach should guide your buying decisions. Simply identify what you really want from the property. Do you want to make a quick $30,000 in a very short period of time or would you be happy with earning $800 to $1,000 a month for the rest of your life?
3. Determine a geographic location to invest in Canadian property based on what you want to buy. Use a nationally-based Realtor in Canada with experience in your specific area. Ignore national statistics, and focus on the numbers and trends that directly affect your market. Check if population growth, average income and job creation are faster than the provincial average. Never base your long term investment decisions on something as risky as the fact that a town is currently popular because a new company has recently opened there or a significant change has come about to positively affect the economy of the location.
4. Is the area’s affordability index in the hot zone? You don’t want the property to be too expensive or too cheap because if it is too cheap, renters will become buyers and if it is too expensive, the property values may stall.
5. Is the location forward looking? Is it up and coming or is it dying? Is money being invested into things such as transport links, communication, and general infrastructure or is the population dwindling? Look carefully at the location and see if you think it has long term and sustainable appeal.
300 – 3303 Immel St. Abbotsford BC V2X 5Y1
1 – 32540 Logan Ave Mission BC V2V 6G3
O 604 859 3141 or 604 826 2699
F 604 859 5226 or 604 826 2621
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Mission real estate for sale, Mission REALTORS®, and Mission MLS® Listings. Access Mission real estate listings, Mission REALTORS®, new homes and Mission foreclosures. We also have information on Mission home selling, home buying and mortgages, movers and other realty services in Mission and area.
Advantages for the Experienced Agent with HomeLife Glenayre Realty Co. Ltd.:
- Experienced Management
- Household name in local market
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