Whether you’re an experienced Vancouver investor or someone who has been thinking about buying an income property in the area, we can help you locate just the right opportunity. Today, we are sharing a few tips on buying a Vancouver investment property.
You want to be able to start strong, and buying a property that doesn’t perform is a huge mistake that you don’t want to make as a Vancouver landlord.
You also need to have a good understanding of the location where you’re buying. A professional property manager who knows the local market well can help you. You want to understand what types of rents to expect and what tenants in that area are looking for in a property. Make sure you know where you’re buying and what kind of trends you can expect.
Successful Vancouver investors know better than to buy a property based on emotion. You will not be living in the home, so you don’t have to be emotionally attached to it. Think of this as a business, and make your decisions accordingly.
Conduct a thorough check on all expenses paid by the owner before you buy. When you’re buying a home that’s occupied by a tenant already, you need to know what’s paid by the owner and what’s paid by the tenant. Do a thorough check on all the lease documents so you can ascertain what expenses you’ll need to be prepared to pay.
For this and more information on investing in Vancouver, please contact us at SunWorld Group. We are a full-service Vancouver property management company covering all of southern Washington, and we’d be happy to tell you more.