Thinking about Buying an Investment Property in Etobicoke?
You love your home and have no intention of selling anytime soon! But, you’ve paid down the mortgage or even paid it off and have some money to invest. This is the best time to buy another property. You can pull out the equity from your current home and build up your portfolio. You can start to make passive income each month. Let me show you how!
Have you been thinking about buying another property as an investment but, not really sure how to go about it? You know real estate is a sure thing and great long term investment. You might even be thinking about your retirement so, perhaps real estate is the answer? Buying real estate has been good to you, it’s time to get another investment vehicle working for you!
Here’s what you need to know when buying an investment property in Etobicoke
Buying an investment property is not quite the same as buying a home to live in. There are a few factors you need to know up front to be prepared to be an investor. You need to understand the differences and have a plan in place before you do anything else.
3 Things to do first
- Decide what type of property you want to buy. Know the different scenarios and which one makes the most sense for you.
- Have your financing in place. Buying an investment property vs. second property requires different lending rules and even downpayment. Find out your options.
- If you are going to pull out equity from your current home, find out what your current home is worth.
Need help with this? Download my checklist Buying an Investment Property? What you need to know. This checklist will help you narrow down what scenario makes the most sense for you. It discusses what to look for in a property and how to narrow down your choices. It will go into detail about cash flow and how to determine if a property is a good investment.
Once you know the answers to these questions you are ready to take the next step. You can start looking at properties and analyze their potential. This is where it gets exciting because now you can see yourself building up your portfolio, increasing your wealth and even geting some cash flow every month!
Download the checklist here and if you are ready for the next step Schedule a Time to Speak with Milana Here