- Know the market
- Have a good team of experts (including a knowledgeable property management company)
- Plan your exit strategy
- Understand the financial implications of your decisions (like taxes)
I continually come across Canadians who are looking south to invest their money in Real Estate. Complaining that Toronto is too expensive, sick of bidding wars and afraid the bubble is going to burst. They are lured by foreclosures, reduced prices and friends who have said how amazing the opportunities are. Apparently, you can buy a 3 bedroom house in Florida for just over $100,000. Who wouldn’t be tempted to look south with these facts! In fact, over the last two years Canadians have purchased over $40 Billion in US Real Estate. So why not join the bandwagon? As a real estate investor myself, I believe there are a few rules you should live by when investing in Real Estate.