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Five Considerations Before Buying a Rental Property

Buying a property for the purpose of renting it out can be a fantastic source of monthly income and a strong return on investment in the future. <br>https://www.circlapp.com/list-property-landlord<br>

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Five Considerations Before Buying a Rental Property

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  1. 5 Considerations Before Buying a Rental Property Buying a property for the purpose of renting it out can be a fantastic source of monthly income and a strong return on investment in the future. However, before you sign your financial life away, there are a few things you need to consider first https://www.circlapp.com/list-property-landlord

  2. Crunch the Numbers Before you start looking at houses it’s a good idea to sit down and calculate the amount you can afford to spend on a rental property. • Financing • Transaction Fees • Management Fees

  3. Choose a Desirable Location Once you have an idea of how much you are able to invest into a property, it’s time to choose the right area to invest in. • Attractive Neighborhood • Transportation and Local Amenities

  4. Choose your Target Tenant As mentioned above, it’s important to consider who you’re likely to rent to, as different types of tenants will have different needs • Students • Single Families

  5. Select the Property based on Return on Investment Once you’vechosen an area and considered the type of tenant you’d like to attract it’s time to find a house that meets your requirements. • Make the Best “Business” Decision • Use an Agent • Negotiate a Deal • Using all Cash • Using Financing

  6. Be Prepared for the Worst The property market can fluctuate greatly at times so it can be difficult to know when (or if) you’ll see a good return on your investment. • Vacancy • Late Rent Payments • Use a Debt Collection Agency

  7. Contact Us Address: 481 University Ave. Suite 703 Toronto ON. M5G 2E4 Canada Ph. 1-800-707-8154 Email: support@circlapp.com Join Us on Social @meetcirclapp www.facebook.com/meetcirclapp www.youtube.com/meetcirclapp www.circlapp.com

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