Steps to Buying Your First Investment Property in Nanaimo
Around the world we’re seeing more and more first-time real estate investors looking to buy houses to rent, so today I wanted to cover a few tips on how to buy your first investment property in Nanaimo.
For a first time investor, it makes sense to buy a house to rent near where you live. Since you’ll be a new investor, if you buy your first investment property in Nanaimo, you’ll be able to keep an eye on the property even if you choose to have a professional property management company deal with the renting and management of your rental.
The second tip in buying a 
is to not get emotional about your rental house. Buying an income property is a lot different from buying a house that you’re going to live in yourself. With your own home you can afford to be a bit subjective or emotional, but not so when buying your first investment property. For this, you’ll want to stay focused on the bottom line.
Know your numbers. When buying your first investment property in Nanaimo, you’ll want to have a good grasp of several factors that will affect the financial performance of your rental property, including the cost of any needed repairs, the length of time to find a qualified tenant, the realistic market rent, and an accurate forecast of any reoccurring expenses such as routine maintenance, management fees and property tax.
For your first investment property in Nanaimo please give me a call. I would be happy to send you current Nanaimo listings.
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