Has there ever been this much real estate talk?
Even for Vancouverites, we have hit a new high. Foreign ownership & unaffordability aside, the other big topic is a severe shortage of rentals. Potential tenants are now outbidding each other to secure a good rental property - rents have also escalated over the past year. If you have given up on your RRSPs and are wondering how to finance a future retirement keeping you in the manner to which you have become accustomed, become a landlord! Let someone else pay your mortgage and help fill the rental gap. With such a low to almost non existent vacancy rate and amazingly still low interest rates, now is the moment to seriously consider a real estate investment. This need not necessarily be around the corner where prices are high - could be further east in the Valley, Campbell River or another province - as long as the location has a need for rental properties and the rents are competitive. Detached, townhomes or condos provide a good return on investment especially over the longer haul.
When did you last rent out your stocks and bonds?! Let us help you start your real estate investment portfolio - we believe in it. And...if the thought of dealing with tenants is standing in your way, don't let it. This is what property managers do best - hire a professional. It is a small price to pay for peace of mind. The Feds, provinces and municipalities have not been building rental buildings since the '70s - they are presently leaving it to the entrepreneurs. All this chatter is opportunity knocking!
We are happy to discuss all of this and more with you - just call us - we'll get the coffee! Meantime, the Francis & Hawthorne Team has you covered - even in the summer rain.
Happy holidays from your partners in real estate - Sheila and Michelle.