What to Think About Before Buying an Investment Property

It’s a good idea to develop a relationship with a building inspector. They are very important members of your development team. If you can, find an inspector with some building and renovation experience.

All properties will require some improvement. If the properties have been priced appropriately, this can sometimes be an advantage: you can make the improvements you want, so you can attract the right kinds of tenants.

It is important to distinguish between your own desires and wants and those of your potential tenants. Make sure you focus on what renters in the current market are looking for. Remember: The goal is to increase and sustain rents with minimal vacancy.

Investment Property Tip for Renting Out Units:

The more utilities are paid directly by the tenant, the better—especially hydro.

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