Do you dream of owning an investment property? Maybe even several? The idea of a steady monthly income is appealing, and today’s low interest rates make the idea even more attractive. Investing in a rental property can be very profitable and satisfying.
Advantages of being a landlord:
Building Equity
Not all real estate appreciates but by and large properties will appreciate (at least incrementally) year after year. On most investment properties, you’re going to have some underlying mortgage debt. However, your rents will cover this monthly while hopefully leaving a little extra in your bank account. If you’ve invested smartly, your tenants are now building your equity by paying down the mortgage on your investment. No matter what the market is doing, the amount you owe on your asset is decreasing every single time tenants make a payment.
Long Term Security
Probably your first motivation for buying a rental property – money! As your tenants pay down your mortgage, renting a property can provide an income which can be used to support hobbies and travel, invest in more properties, or save for a rainy day. As a long term strategy the sale of any investment properties can provide a comfortable nest on which to retire.
Plus, if your living situation changes then you could always live in the property yourself.
Business Savvy
Being a landlord is like managing your own business, which can be very rewarding. You get to make the decisions on costs, contracts and terms. You can also decide whether or not you want to sell the asset, and when.
There are many compelling reasons to become a landlord, and anyone who employs the correct strategies can easily reap the benefits. Many people find it an ideal way to generate an income, and it’s easy to see why. If you’re debating whether or not you want to make the leap into real estate let us help you navigate the process. Visit www.cedarglenliving.com for more information.
Calgary is a vibrant modern city with small town charm, a lively arts, culture, recreation, dining, and shopping scene and a strong sense of community. These are just a few of the reasons it often tops the list of the best cities in which to live, work and play.
Cedarglen Living offers condos and townhouses in some of Calgary’s best up and coming neighbourhoods – a short drive from top-notch medical care, first rate higher learning institutions, the Calgary International Airport, the historic downtown core, the majestic Rocky Mountains and the tranquil Bow River valley.
