{"id":2227,"date":"2017-08-16T07:22:00","date_gmt":"2017-08-16T15:22:00","guid":{"rendered":"https:\/\/www.yaorealestate.com\/?page_id=2227"},"modified":"2022-01-28T17:56:48","modified_gmt":"2022-01-29T01:56:48","slug":"top-10-real-estate-investment-tips","status":"publish","type":"page","link":"https:\/\/www.yaorealestate.com\/services\/vancouver-investment-property\/top-10-real-estate-investment-tips\/","title":{"rendered":"Top 10 Real Estate Investment Tips"},"content":{"rendered":"<p>Here is the shortlist of the <em><strong>top 10 Real Estate Investment Tips.\u00a0 W<\/strong><\/em>hat you need to know.<\/p>\n<ol>\n<li>Get A Mortgage Pre-approved before investing in a property<\/li>\n<li>Current Value Assessment<\/li>\n<li>Have you discussed your goals with your realtor?<\/li>\n<li>How much risk are you willing to take with this investment?<\/li>\n<li>How long are you looking to invest in this property?<\/li>\n<li>What are the reasons for choosing a specific area of Vancouver?<\/li>\n<li>IF the market corrects and drops, will you be ok financially?<\/li>\n<li>How old is the property that you are looking to purchase?<\/li>\n<li>What is the current rental market doing in the area you are looking at?<\/li>\n<li>What is your BUDGET including all costs?<\/li>\n<\/ol>\n<h2>Real Estate Investment &#8211; First Get all your ducks in a row!<\/h2>\n<h3>#1 Get A Mortgage Pre-approval:<\/h3>\n<p><strong>Are you ready before your Real Estate Investment?<\/strong> \u00a0The best investments do not stay on the market for long. \u00a0Many times they go into multiple offers as they are highly sought after. \u00a0Read about the <a href=\"https:\/\/www.yaorealestate.com\/vancouver-investment-property\/\">types of Real Estate Investments<\/a>.<\/p>\n<p style=\"padding-left: 30px;\"><strong>It is imperative that you have these in place: \u00a0<\/strong><\/p>\n<ul>\n<li>A mortgage pre-approval<\/li>\n<li>Home Inspection prior to making the offer (if there is a specific offer acceptance date\/time) if needed,<\/li>\n<li>Gone through the Strata documents \/ Title Search \/ PDS (Property Disclosure Statement) to better understand exactly what you are buying.<\/li>\n<li>Making your offer as clean as possible raises the chance of success.<\/li>\n<\/ul>\n<h3>#2. Current Value Assessment:<\/h3>\n<p>Has your Realtor assessed the ballpark<strong> CURRENT value for the unit?<\/strong>\u00a0 Every licensed Realtor would have access to statistics that can calculate where the market value would be at. \u00a0Most of the time the accepted offer would be very close to the calculated number.\u00a0 This would set out as a guideline when making your offer.<\/p>\n<h3>#3. Have you discussed with your Realtor what your goals are?<\/h3>\n<p>Realtors live and breathe Real Estate.\u00a0 Realtors who monitor the market on a daily basis is crucial to your success. \u00a0This experience allows them to advise on sub-segments of each market to align with your goals.\u00a0 You may find a property which is of great value, but how is the growth of that property going to look in the foreseeable future?\u00a0 How is the rental market around that unit?\u00a0 All these things are to be considered.<\/p>\n<h3>#4 How much risk are you willing to take on?<\/h3>\n<p>Just like most things in life &#8211; the bigger the risk, the bigger the reward.\u00a0 How much down payment are you putting down?\u00a0 What would be your mortgage payments?\u00a0 What would you place more emphasis on \u2013 capital gains, cash flow, or cap rate?<\/p>\n<h3>#5 How long are you looking to invest in this property?<\/h3>\n<p>Have you spoken to your mortgage broker or bank about the structure of the mortgage to best benefit your timeline?<\/p>\n<h3>#6 What are the reasons for choosing a specific area?<\/h3>\n<p>You need to know the pros and cons of the area you are looking in to be better prepared for the ups and downs that will come.<\/p>\n<h3>#7 IF the market corrects and drops, will you be ok financially?<\/h3>\n<p>Nothing is 100% guaranteed when it comes to investments.\u00a0 You need to be prepared for both the ups and downs of the market flow.\u00a0 Perhaps you were looking at a 2-year investment.\u00a0 What if in 2 years, the market turns south?\u00a0 Are you prepared to hold on to it longer to continue paying the mortgage, property taxes, strata fees, insurance, etc.?<\/p>\n<h3>#8 How old is the property that you are looking to purchase?<\/h3>\n<p>This would usually indicate the work that may be coming due, whether in special assessments in strata properties or out of pocket for non-strata properties like single-family houses.\u00a0 Do you know the complications and potential costs and have you budgeted for it?<\/p>\n<h3>#9 What is the current rental market doing in the area you are looking at?<\/h3>\n<p>What are similar units renting for?\u00a0 This is something you can find out by spending a few minutes a day on Craigslist to get a better idea of the average so you know what to expect.<\/p>\n<h3># 10 What is your BUDGET?<\/h3>\n<p>This is arguably one of the key factors to consider before proceeding.\u00a0 You need to really figure out what your budget is, and look for an area that your budget would fall within the average of ideal investments.\u00a0 If your budget is too low for the area, you would be looking at older imperfect units that require a lot of upkeep and maintenance.\u00a0 If your budget is too high you may be risking your exit strategy when the time comes.\u00a0 Knowing your market is of extreme importance when entering into the investment world.<\/p>\n<p>If you have any questions or would like someone to guide you through the process, please give us a call.\u00a0 At Yao Real Estate, we truly desire to fully understand your needs and goals and would be privileged to assist.<\/p>\n<p>See what not to do <a href=\"https:\/\/www.yaorealestate.com\/vancouver-investment-property\/top-5-real-estate-investment-mistakes\/\">Top 5 Real Estate Investment Mistakes.<\/a><\/p>\n<p><a href=\"https:\/\/www.yaorealestate.com\/contact\">Contact us<\/a> for help before you start investing in real estate!<\/p>\n<p><script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [{\n    \"@type\": \"Question\",\n    \"name\": \"Do you have your Ducks in a Row to invest in Vancouver Real Estate?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"Make sure you get all the following done before moving forward.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"Have you got a Mortgage Pre-approved before investing in a 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How long are you looking to invest&#8230;<\/p>\n","protected":false},"author":9,"featured_media":0,"parent":2144,"menu_order":5,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[],"tags":[],"taxonomy_info":[],"featured_image_src_large":false,"author_info":{"display_name":"System Administrator","author_link":"https:\/\/www.yaorealestate.com\/author\/admin\/"},"comment_info":0,"_links":{"self":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/pages\/2227"}],"collection":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/comments?post=2227"}],"version-history":[{"count":5,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/pages\/2227\/revisions"}],"predecessor-version":[{"id":3579,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/pages\/2227\/revisions\/3579"}],"up":[{"embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/pages\/2144"}],"wp:attachment":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/media?parent=2227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/categories?post=2227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/tags?post=2227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}