Sound too good to be true? It’s not. We have dozens of clients making money while they’re sleeping by investing in rental properties. We’re here to coach you on how to become a profitable landlord.
It is not about being rich and having tons of money, but having enough to cover your living expenses so that you can spend your precious time doing what you like rather than doing things just to earn money. Thats why we encourage our clients to be open to the idea.
Most of our investor clients are normal people with regular jobs and income. Investing in rental properties doesn’t take an expert, but it does take knowledge and understanding. We are here to guide you on your journey to financial freedom!
Condo? Duplex? Multiplex? It depends on your goals and lifestyle. We are here to guide you through your purchase and evaluate the cash flow potential of properties.
Condo: Investing in a condo can yield significant returns if done right. First time investors like to start off with this type of property since they are beginner friendly and require little maintenance. Condos are typically cheaper than multiplexes, require less repairs and are always high in demand.
Duplex/Triplex: This is a popular choice for many first time buyers since you can use it as your primary residence while also generating some income by renting out the other units. Many homeowners and investors have used this option for decades to get their foot in the door. This is a great way to make your housing payments lower and also builds equity and gives you valuable experience to carry over to other real estate investments.
Multiplexes: The preferred investment strategy for those investors who want an additional source of monthly income along with slow but steady appreciation in the value of their portfolio. The cost to acquire an apartment building will be significantly higher than the cost to buy a family home or condo, however, the return on the investment is much higher along the appreciation value.
Once you have found your chosen property, we will go over important information before writing up an offer such as operating costs, expenses, revenues, ROI and vacancy rates!It is also important to understand your obligations as a landlord and the rights of your tenants regarding security deposits, lease requirements, eviction rules, fair housing, and more.
From placing ads, taking phone calls, showing the property, signing the lease and more! a landlord has a full list of responsibilities to handle such as credit and employment verifications to ensure the quality of their potential tenant.
Whether you’re managing a rental property yourself or if you’ve hired a property manager to handle things on your behalf, you’ll want a strategy that keeps your rental business running smoothly.
Whichever way works best for you, keep the following in mind:
Manage Tenants ( tenant turnover, yearly rent increases, complaints and more!)
Manage Property (Maintenance and repairs)
Manage Finances ( Collecting of the rent, keeping track of income and expenses etc.)
Keep your managing skills up to par to keep your investment profiting long-term.
Congratulations! After all this hard work, you can sit down, relax and enjoy the fruition of your work.