Why Canadians jump into bad real estate investments and how to avoid them

Why Canadians jump into bad real estate investments and how to avoid them

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Toronto – Renting to Own Investment expert and author Mark Loeffler says that while it’s great that the real estate industry is reporting growth, it’s critical to drill down deeper into the markets that you might be currently investing in, or are considering investing in before jumping into what could be a potential mess.

“There are a lot of urgent and scary reports out there that sometimes put the pressure on investors, and all too often they react too quickly and invest in something they shouldn’t. The economy and housing markets can be very different even within the same province, let alone from one end of the country to the other. It comes down to the types of housing you are looking for- and you need to do your due diligence before investing,” says Loeffler, who is the author of Investing in Rent-to-Own Property- A Complete Guide for Canadian Real Estate Investors and well respected in the field of Real Estate in Canada.

“Even with reports of good market upswing, there’s no guarantee that it will continue. Investors need to be looking at targeted reports as part of their research before they decide with markets and housing types to invest in,” says Loeffler.

Mark recommends doing research into all investment aspects before laying down any money on the table and not letting headlines create urgency when investing.

What you should do before making a deal:

1. Don’t just read a generalized Real Estate and Market Survey report. Get specific, find out what the stats are on the specific type of housing you are looking for. There can be a big difference between two and three bedrooms just down the block from each other.

2. Condominiums and single family homes, depending on where you are looking to invest can be like apples and oranges. Narrow down the type of investment you are looking for and make sure you get up to date information. Make sure it’s exactly what you want.

3. Educate yourself if you aren’t sure about what you are doing. There are plenty of seminars and courses that can give an investor all the information they need about every option. Stay informed. Subscribe to business blogs and keep up to date with the industry.

4. Don’t be afraid to ask questions. There is nothing worse than jumping into a deal without knowing all the facts. Sometimes Canadians are too polite and don’t want to make waves when dealing in business.

 

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About Tariq Sultan
Dear Readers, I am a dedicated Toronto, Ontario based real estate professional who has been successfully meeting and exceeding the needs of his clients for past several years. I am actively involved in the insurance, financing, and mortgage industry. Real estate is not only my career – it is my passion. I strive to continuously provide my clients with exceptional service to ensure they are fully satisfied when it comes to their real estate needs. For any real estate related inquires contact me today, I will be happy to assist you. Best wishes, Tariq Sultan

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