7 Things You Should Know Before Buying An Investment Property

Cindy Cody Team - Second Property, Investment Property, Kitchener-Waterloo

We get calls from clients all the time who are interested in buying a second property as an investment. If the thought of buying an investment property has crossed your mind, it’s a great time to connect with us. We can discuss your real estate goals and get some ideas rolling. Here are some tips and things to start thinking about.

1. Work With A REALTOR Who Understands Investing

Working with a professional who understands investing is a great first step. The right agent should be personally connected with a reputable mortgage agent who primarily works with investors.

Bonus tip: Hire a REALTOR who is an investor themself! Numbers matter, and someone who has guided people through the process of securing an investment property, plus has the personal experience of purchasing and operating an investment property is the best way to go! You can learn from their personal experience plus get amazing professional advice to help you make your next smart investment move!

2. Think Long Term

Property investments are one of the most secure investments long term. If you have any questions about getting started with an investment property, we can definitely help you out. We want to make sure you have the right details to make your first investment a wise one.

3. Compare Different Types of Properties

There are many different types of investment properties, so you need to review each one and see what’s best for you; duplexing a home and renting it, flipping a home, pre-construction condo, or getting a tenant for a residential property, etc. So together we can review all the options to decide which is the best option for you.

4. Understand Down Payment Requirements

When you purchase an investment property, you will likely need a larger down payment than for your first property. We can connect and explain all the costs.

5. Organize Your Finances

We can guide you through all your financing options. Bonus Tip: Open a separate account for all your investment property finances

6. What’s Your Return on Investment… and When?

Working with professionals who specialize in investment properties is the best way to help you map out your investment. Some times there’s more to think about than just ROI. Let’s sit down and talk about what’s important to you.

7. We can Connect You with Other Top Professionals

Right now you’re thinking about acquiring an investment property. But part of what makes a smart investment is understanding the whole picture.

Don’t let tax implications stop you from making a wise real estate investment. The financing and tax implications can be confusing, so if you have any questions at all or would like some clarification, we can answer many of your questions and connect you with top professionals with lots of experience in mortgage financing and taxation such as lawyers, accountants, etc.

 

Contact Us About Your Investment Goals

If you’re considering purchasing an investment property, we can HELP guide you through the process and CONNECT YOU with the right mortgage and financing professionals for investments. Having purchased investment properties ourselves, we know a thing or two about it! Give us a call!

 

 

519-746-5136
sold@cindycody.ca