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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 • Financing • Transaction Fees • Management Fees 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.

  3. Choose a Desirable Location • Attractive Neighborhood • Transportation and Local Amenities 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.

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

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

  6. Be Prepared for the Worst • Vacancy • Late Rent Payments • Use a Debt Collection Agency 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.

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

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