Real Estate Investment Advice From Twitter
Tips from a Toronto Mortgage Broker: Whether you're a prospective real estate investor, or someone who's simply in the market to buy a primary residence, we can all benefit from the nuggets that were shared via Twitter during the Real Estate Investment Network (REIN) BC Workshop last Friday (@REINCanada).
Below are a few highlights that attendees wanted to share:
1. Before purchasing a property, always get a survey. That two-dimensional drawing might bring to light information that you may have missed otherwise – such as the actual property line of a residence.
2. Take your tape measure to every viewing. You never know when certain measurements will come in handy – especially when you're trying to visualize the property later.
3. When obtaining a mortgage, don't be afraid to go for the going 4-year rate instead of the traditional 5-year. The rates are often lower, and many times a 4-year rate is all you need.
4. Don't believe the stats – always think regionally. While Canada's real estate market may be heating up, the regional pocket you are interested in may be a buyer's market – and, resultantly, may offer some great deals.
Marcy