5 Steps to Real Estate Investing
Back to the Basics: the first step is making the decision to start on your path to financial freedom
Calgary’s real estate market is extremely dynamic and always evolving, as such, there are many different investment opportunities for first time and savvy real estate investors alike. These opportunities depend on down payment amount, overall budget, and risk tolerance.
Qualification/Consultation
You must ask yourself these questions:
Is real estate investing right for me?
What is the amount of down payment available? (minimums: Canadian resident 20% / 35% non-resident)
Type of Property - some investors are all about numbers and cash flow, others have specific desires such as 50ft frontage, R2 zoning, potential as primary residence in future, etc.
Regardless what your goal is, we are here to find the best property based on YOUR needs!
2. Custom Search and Preview
Personalized online portal and custom property search based on client’s needs, wants, down payment, and overall budget
Our professional Realtors® on staff personally preview properties to ensure the viability as a rental and ultimately estimate rent potential, evaluate if repairs are needed for 100% rental readiness.
3. Crunch the numbers
Will the property generate positive cash flow?
Is the cash flow within acceptable ranges for client comfort level?
What is the amount of down payment required to achieve this?
4. Negotiation/Conditional Sale
Research comparable sales and prepare a comparative market analysis (CMA) to establish market value and ensure the property is priced fairly, inline with current market conditions.
Ensure a valid, enforceable contract is written with terms, conditions, and pricing in line with client needs and expectations.
Aid in obtaining a qualified mortgage broker and/or lawyer if needed.
5. Closing
Ensure property condition is in line with original viewing.
Collect keys and perform walk-through inspection.
Coordinate any repairs, painting, etc. in order for the property to be 100% rental ready!
Full Service Management from Power Properties Ltd.
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Create new owner package/account with property details
Professional photos for marketing campaign
Secure a suitable tenant in a timely fashion (typically 6 weeks)
Tenant Screening: perform landlord, employment, and credit checks
Execute lease with tenant
Perform move-in inspection and prepare digital video documenting current state of repair.
Continuous communication and support with owner clients
Completely hands off for owners but kept fully informed
Personal online portal available 24 hours a day, 7 days/week, with access anywhere in the world.
Non-resident specialists (CRA tax administration)
Peace of Mind.
