You have an entrepreneurial spirit and plan to invest in rental properties. You know you want to invest in individual apartments, not apartment buildings. What should you pay attention to when buying your investment apartment?
The good news about your business plan is that vacancies are declining and rents are rising in many communities across the United States. And compared to other types of real estate investments, the operation of an apartment is quite simple. You can also get more information about houses & apartments for sale in Vancouver, BC at David Crawford.
There are also tax breaks to claim, including depreciation, deferred capital gains, depreciation amortization and more.
Your search for a potential retirement home begins with identification and research. Take your time to determine the type of home and neighbourhood in which you want to invest. What kind of tenant would you like to attract? What must your investment apartment offer to appeal to your dream tenant? Consider some of these options:
• Centrally located next to schools, jobs, mass transit systems, etc.
• Close to amenities such as shopping and entertainment areas.
• Desired in-room amenities, which may include a balcony, laundry, all equipment, etc.
• Specialized building features such as lifts, concierge and/or security services, on-site meeting rooms, swimming pool, fitness centre and parking are also attractive facilities for tenants.