In a strong real estate market, many people turn their attention to investment properties as a secure and profitable way to grow their money. Unlike other means of investing, buying real estate allows you to secure your money in a profitable, tangible and desirable asset. If you have considered investing in real estate as part of your overall financial plan, asking the right questions is a good place to start.
What is your long term plan? Buying an investment property is not a one or two year strategy. It requires patience for your investment to reach its full potential, but allowing the property to appreciate can be highly rewarding. Whether you are considering purchasing a condo, house or multi-family dwelling, you need to evaluate your short term and long term expectations to choose the ideal property.
Are you looking for a property that will provide cash flow on a monthly basis? The right property will bring in a few hundred dollars extra each month after the mortgage payment, property tax and any other fees. If generating extra cash is your priority, you need to find a relatively inexpensive property that will bring in a higher monthly rent.
Are you looking for a property that will offer maximum appreciation over time? Even if a rental property doesn’t provide a monthly cash flow, it can still be an incredibly lucrative investment. Not only is someone else paying down most of your mortgage, but they are occupying the property as it goes up in value. Once you decide to sell or refinance, you will have access to the return on your investment.
So why is Calgary a great place to buy a rental property? Over 43,000 people have moved into Alberta in the last twelve months. This is the largest number in 23 years. Most newcomers are looking to rent for the first few years that they are here, and this is putting a high demand on the Calgary rental market. Worried about being a landlord? There are many property management companies that will handle the responsibilities on your behalf. Determine your expectations, find a great property, and let your money work for you.
Are you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.
About Bryon Howard
Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.