Choosing to invest your money in Real Estate is very exciting (for the record, you want investing in real estate to eventually be very BORING!). There are many components of the real estate process, in which we are here to help you understand and execute. This is a hub of everything you need to know when putting your money to work for you, with professionals to help you execute your goals, to make your dreams come true.
Where you want to end up is the first step in determining where to start.
Do you want a short term investment, and focus on positive cash flow?
or a long term plan, to grow your equity?
Your WHY is a huge factor in determining what choices to make NOW, to pave the path for your long term success.
This isn’t a one man show. As a Real Estate Investor, you rely on many trades & professionals to help you close the deal.
You want to build a healthy relationship with your ‘Power Team’, who are on board with your projects, who understand your goals, and who are looking out for your best interests.
Learn more about The Realty Deal here!
Who doesn’t love a couple extra bucks in their pocket each month? With a positive cash flowing property, you will have just that. Ideally, a couple hundred dollars (or more) each month to spend on vacations, savings, paying down your mortgage, or into the property’s ‘Reserve Fund’
Your tenants rental payment each month, goes towards building your equity. They pay down your mortgage, and you will ultimately own your home, mortgage free, with out any of your own dough. Nice! Any extra cash you ‘make’ every month, is considered Cash Flow, and if you pay your allotted 20% of the mortgage balance each year, you could have your home paid off in a few years! There after, every month your tenants pay, is cash in your pocket.
Having a Buy & Hold strategy, means you are in this for the long haul. Hopefully, you buy today and in 20 years, your home will be worth double the price you paid for it! In Hamilton, the real estate market has appreciated an average of 5% per year. In 2015, it grew 9%, and 13% in some areas! The more the market appreciates, the more your home will be worth.
This means you renovate your home, to make it worth more. There are a couple different strategies you can take with this, depending on if you want to renovate and sell, or renovate and refinance, or renovate and rent (to a higher tenant profile).
“You are so patient and helpful. Thank you tons for helping me find a great investment property!”
-Sharon
