So, with the investment arrow pointing straight up in recent Montreal real estate market, what is the best course of action for turning that dream purchase into a reality?
KNOW YOUR COMPANY
This first step is undoubtedly easier said than done, but your intuition can be your best friend here. How cooperative and communicative is your realtor and his or her firm? Are they shaping their strategy to your individual wants and needs, or insisting that their one proven method is best, despite specific circumstances that vary from purchase to purchase? Getting a great feel on whom you are working with often is the strongest tell-tale sign in the early stages of buying investment property; are you a human being with an interest in ownership, or just another statistic?
We are in the information age. Sure, expertise is not null and void, but taking in data and analysis on your own time will reduce the chances of being taken advantage of by a broker far too obsessed with risky and speculative actions. The most fruitful investment purchase occurs when it is the product of collaboration, between an earnest and wise buyer and the experienced, well-connected realtor.
There is a famous line from the classic baseball movie “Field of Dreams”, that goes “if you build it they will come”. Sadly, even the greatest investment properties are not magical baseball fields, as there is ample work to be done after building/buying. Mastering everything from advertising, to fine-tuning the showing process to prospective tenants, to even igniting competition for one of your units, are key cogs in the investment wheel.
THE TIME IS NOW
Investment purchases are often landmark decisions, so getting it right is appropriately crucial. We at Vicole Real Estate pride ourselves on having our finger on the pulse of the Montreal, Quebec’s investment properties. We would love nothing more than to start a conversation with you that will ultimately yield a dream property from which you will reap benefits for years to come.