Archive for March, 2020

Buy, Rent, or Invest – Multifamily Syndication

Friday, March 27th, 2020

It is no secret that real estate is one of the best investments one can make for their future. Real estate is considered a safe venture; however, not everyone can buy real estate and expect a return. Multifamily Syndication is a real estate phenomenon that is slowly become a major real estate trend. This is a real estate trend that is showing real estate agents that working smarter is better.

What is Multifamily Syndication? 

Multifamily Syndication is when a group of investors of individuals pool their money together to invest in a multi-unit building. Once the investors have saved enough money for a down payment, they can then look into purchasing a multifamily apartment or property.

Why invest in multifamily properties? 

When it comes to determining if a multifamily property is the one for you and your investors, consider the following: families huddled with arms around each other

  • Multifamily properties offer a high return in capital – investors can watch profits happen faster than those who have single family homes.
  • Tax saving benefits through tax deductions and depreciation – when you invest in a multifamily property, regardless of your city, you are actually contributing to the community. It is for this reason many governments, regardless of level, will provide tax breaks and deductions.
  • Multifamily provides high ROI with equity and/or a lender

Multifamily investment properties provide long term financial gain and security. Sometimes it can be hard to know if buying single family homes is better than purchasing one unit with multiple renters. Multifamily syndication is a real estate phenomenon that is bringing together people’s passion in investing and real estate.

Many cities across Canada and the US are turning over properties and seeing the endless possibilities of investing in multifamily properties. Though capital is needed to get started, investors can see the benefits in no time.

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Condo Living – Is it Home? 

Friday, March 20th, 2020

In the market for a home? Are you looking to go from renting to owning? Maybe you are considering a condominium rather than a stand-alone home – we share insights on whether or not a condo is a right call for you.

Condo living room with tall windows

For those who choose and prefer a condominium, there is little or no external maintenance required. Not only is there no grass to cut, but for those who like to travel, the only thing you have to

worry about is making sure your door is locked.

When determining if the condominium you are looking to invest in is for you, consider the building entrance. Check the outside and see if the grounds are well kept and the exterior is clean and well maintained. Another sign to look for is if there are advertisements for community gatherings for those living in the condominium – this can be a sign of an active and friendly building.

It is best that before settling on a condominium, you embark on multiple walkthroughs. This can help check for any smells or abnormalities. Sometimes property managers will try to clean the building just for tours and such, but in actuality, there are many flaws. It is always good to see the building and the unit as-is.

blueprints rolled up and strewn aboutAnother factor to consider is the orientation of the unit. What direction does the balcony face?. What floor is the unit on? Typically higher levels are quieter, while lower floors because they are closer to the ground, tend to be noisier. The difference in sound is sometimes reflective in the cost – the quieter the unit, the more expensive it is. Always check the age of the condo; if it is older, the fees may be higher.

What is the floor plan of the condo, how many bathrooms are there, and how is the kitchen organized? Are the appliances included, and how old are they? The exact size/square footage of your condo unit is significant. This will help you and your real estate agent calculate possible prices. Check to see if there have been upgrades such as premium countertops and porcelain tiles, crown molding, and upgraded kitchen cabinets.

Are you looking for add-ons? Ask to see is there is storage available or parking. Is it big enough for your skis, bikes and camping gear? Take a tour of the building to check out all the shared amenities such as a gym, party room, and pool. Is there any guest parking, and at what is the cost? Building security is also an important consideration.

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Beyond the Sign – Price it Right

Friday, March 13th, 2020

From buying to selling, the price can sometimes be very daunting. houses on coins, the larger the house the larger the stack of coins

When it comes to listing a home, the price can be everything. Pricing a home too low may mean that the sellers may not get top dollar, and pricing a home too high may deter buyers. It’s so important to have a home priced right, the moment it hits the market.

What Goes into Pricing a Home?

As a homeowner, you want to ensure you have a real estate agent on your side who can help ensure your home is listed for the best price. Factors that real estate agents may use in pricing a home may include a variety of factors to help guide them to the perfect listing price for your home.

These factors include:

  • Recent sold data, houses that are currently on the market, and even those listings that were canceled or expired in your neighborhood. And remember, just because two homes may look the same on the outside, doesn’t mean that they are worth the same; there are many factors including upgrades and maintenance that go into pricing a home.
  • Market trends for your area and the entire city. It is essential to compare the data to market trends. The real estate market is continuously changing, and pricing can vary from year to year. A significant trend right now is multiple offers, and this can affect the listing price as the price must allow room for offers.
  • The condition of your home. It can be hard to look at our own home to determine the value objectively. Where you may see beautiful memories, someone else may see something that needs to be replaced. Your agent will be able to give an unbiased opinion when it comes to the value of your home.
  • Knowledge and Experience. A real estate agent works in this market every day, and their practical experience in your neighborhood can outweigh any stats or trends.

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Real Estate 101 – Why Property Managers Matter

Friday, March 6th, 2020

As a property owner, you may find yourself attempting to determine whether you should hire a property management firm or not. It can be hard to decide on whether one needs help until it becomes too late. Finding the right property management firm is one thing the other is for a client to determine if they are making enough profit to pay for the services of a property manager.

What does a Property Manager Do?

Property managers manage the properties of their clients on their properties. These properties can be everything from residential to commercial. Their duties also range from maintaining the properties to ensuring and collecting rent. Some property management firms will offer certain services; therefore, it is important to research and consult. Buy, sell, or rent, it is important to not skimp out on a property manager – find someone that can provide award-winning services and guidance in the real estate market.

Why Hire a Property Management Company?

Depending on the company and the services, you want to ensure you have found someone who has knowledgeable and well informed staff. From trends in the area and the market overall – knowledge is power. Property management companies typically will have a team of individuals who have years of experience and can ensure the proper handling of their client’s properties.

Clients who go with a property management firm know that they have little to no worries because they have a property management company to look after their properties. At the same time, property managers know that if they do well with managing their properties, they benefit from a percentage of the profits gained.

How to Tell if a Property Management Company is for You?

Not sure if a property management company is still the right route for you?

businessmen meeting and going over items on a tablet

Consider the following scenarios and see if you and your properties would fall under any of these situations or circumstances.

  • You have multiple properties with multiple units to manage.
  • You do not live relatively close to your properties or unable to get to the properties right away in an emergency quickly.
  • You have time constraints due to your other properties and businesses.
  • Your properties generate enough income that you can afford the costs of having someone else manage your properties.

With property management, clients want to ensure their properties are taken care of to the same level that they would, if not better.

 How can you tell a good property management company from others?

A good property management firm has an array of professionals on hand from real estate agents to inspectors and builders and maintenance specialists. A property management firm understands that to ensure their clients are happy, they have to provide not just a single service but a multitude of services. Clients who choose to go with a property management company can expect such a service and then some.

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