I get it. I understand you may have doubts and concerns about the viability of investing in real estate. It seems so risky, maybe even out of reach. For those of us who live in Victoria, we have seen property prices skyrocket in the last few years. The number of homes available to buy are limited, and of those, many need a LOT of work – maybe more work than you feel comfortable putting in or spending more on. New provincial and municipal tax regulations are in the works regarding short-term rentals and vacant properties. And these are just your concerns about investing locally.
If you are considering investing in communities in another market, whether across the country or across the border, suddenly the prospects of dealing with out-of-province or foreign tax laws and property ownership regulations become an even bigger mystery. Everything about investing in real estate seems to leave us with more questions than answers.
So why invest in real estate?
I believe investing in real estate - with the right guidance - is always a smart move, especially over the long term. Real estate properties are a tangible asset that tend to be more stable and less risky than other types of investments. If you choose to rent your property – whether to tenants or tourists - someone else is taking care of your mortgage payments, and you see a return on your investment immediately. Investing in real estate, even with a modest investment, gives you the potential to secure your family’s financial future.
Investing in real estate not only helps you to secure your own nest egg; it helps to boost the local economy in which you purchase. Property investment creates much needed housing for renters, which is essential in tight rental markets like ours. It helps to secure employment for tradespeople. It generates business for local companies who supply labour and materials to refurbish the properties. If you can afford to invest, you can contribute to a ripple effect of abundance throughout the community.
What do you need to consider before investing?
To make wise financial decisions about investing in real estate, we must answer the important questions that you have already been considering:
- What are your goals and expectations?
- How much risk are you willing to take?
- How much should you (and must you) invest up front?
- What timeline are you dealing with?
- What are the best ways to ensure a solid return on your investment?
- What happens if the market experiences a downturn?
- What happens if interest rates suddenly jump up?
- Does it make more sense to rent your property to long-term tenants or short-term visitors?
- Or is it more lucrative to buy a property to flip?
- How do you find trustworthy tenants or guests who will take care of your property as if it were their own?
- What about purchasing investment property in other markets – in another city, province, or country? What crucial legal and financial details do you need to know before investing?
- Which areas – locally, nationally and internationally - are the most sought after, and which ones are up-and-coming areas worth investing in?
- What is the best way to manage a property, whether locally or remotely?
How can I help you to invest?
If you have been curious about investing in real estate, but you question if this is financially feasible for you, I believe even a modest investment can reap great rewards. Whether you have thousands or millions to invest in real estate, I am keen to guide new investors like you to identify the right opportunities, to match your financial capacity with your financial goals, and to optimize your return on investment.
If you feel daunted by the time and effort it would take to identify the right opportunities for you or to manage your properties, this is where our expertise and experience are your best asset. We can help you manage every step of the process, including the property itself should you need. I am eager to help you maximize your own financial security so that you can contribute to the ripple effect that benefits the community in which you choose to invest.
I do this because I want to live in a community where we share the wealth that it available to us. I have spent nearly 30 years as both a Realtor and investor because I want to see all of us thrive in every aspect of our lives, especially our financial lives, so that we can all continue to pay it forward.
Are you interested in learning more about real estate investment options and opportunities?
Please take 3-4 minutes to answer 12 short questions to help me understand your vision for investing real estate.
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The Neal Estate Team is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 4,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Team have the industry experience and market knowledge to help you make smart and informed buying or selling decisions.