Sure it can be inconvenient to be a landlord, but you'll always find me smiling on the 1st of the month! The only real regret I have is that I didn't become a property investor in my twenties. I've been looking at a lot of Centretown Ottawa investment properties lately and it struck me that there are more and more smart, young investors... and the tenants appear to be older than their landlord!
Is it a hands-on business degree of sorts... you betcha'! Marketing, purchasing, negotiating, project management, labour relations, law, finance, economics... it's starting to look like my old curriculum. Many of the popular television shows make it appear easier than it is by leaving out key elements. On the other hand, many people are afraid of the proven wealth-building strategy that property investment is... the perception is that it's hard. It is at times. And... it's easy and rewarding at times.
What other investment vehicle offers the potential of an income stream from the rents and steady asset apprecation? And my favourite part... you can force appreciation by improving the property. I don't remember the last time I was able to make a difference myself in the value of a stock or fund I owned. I'm just sayin'... it's something to consider!
For a great example of what's possible, come see me at an Ottawa investment property open house. Forget brunch, jewellery, flowers... why not give the gift that keeps on giving?! "Happy Valentine's Day, honey... I bought you an income stream!"