Look for Marc LaCouvée's monthly article in every edition of The Beacon Magazine (www.eyesonbc.com)!
REAL ESTATE: MAKING IT WORK FOR YOU
Stocks, bonds, gold and oil. As any good advisor will tell you, these can all be part of a balanced investment portfolio. But they are generally intangible and not physically in your possession. That’s just one way real-estate investments are different. Rental property ownership can provide some great tangible benefits in an economic market where hedging your bets is more important that it has ever been.
You can see it and touch it. Your property will probably be an investment within your geographic area. It doesn’t exist simply as a printed statement that comes monthly to your mailbox.
So you made the decision to buy a rental property. You researched the market and talked to your favourite REALTOR®. You decided on a rate of return you were comfortable with and discussed this decision with your banker. You found a property you liked and presented an offer. That offer was accepted. You have now joined the ranks of thousands of investors and some of the wealthiest people in the world. You are now a LANDLORD. Congratulations!
You have chosen to be your own manager. This can be an exciting time and with some due diligence, you can be firmly in control of your own financial destiny. There are some key areas that you will have to pay particular attention to so here’s a simple list to start you on your way with a successful real estate venture.
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