BECOMING A SUCCESS IN REAL ESTATE PARTs five and six

PARTS FIVE AND SIX OF A SIXTEEN PART SERIES AND THE INVESTMENT STRATEGIES TO MAKE IT HAPPEN

Welcome to Parts Five and Six of our SIXTEEN part series, "Becoming a Success in Real Estate". We are sharing the SIXTEEN proven strategies that you can use to build your business and become a real estate success.

In the last part of this series we discussed Short & Long Term Buys. If you missed it, or any other part of the series, click here to catch up: https://gocanadianmortgage.com/blog/

In parts Five and Six of our sixteen part series, Becoming a Success in Real Estate; we will have a look at House Hacking & Living in the Rent

That's one great way for beginners in real estate to get the wheels of their venture turning and also gain some entrepreneurial confidence.

All you'd need is a home with some extra rentable space that you can let out to prospective tenants. Needless to say, this line of real estate works best with a duplex, triplex, fourplex, or a property that has a livable basement or garage.

So, while you'll be living in your primary residence, the returns from its rented parts will cover your mortgage, and you can possibly even make profits on it.

This real estate plan is slightly different from the house hacking option in that you convert your primary residence into a rental but move out to settle in another home yourself.

This strategy works perfectly for those investors who find it difficult to put together the necessary capital to own a rental.

The process is simple. You buy a house, live in it for a few years, prepare it for a rental, let out. In this way, you can benefit from the appreciation in value and use refinancing to take out some equity and buy your primary home somewhere else.

Even though financing for a primary residences are easier than investment properties and both of these methods allow you to check on (and maintain) the property more easily, there is a slight warning!

Always be sure to familiarize yourself with the local laws before you move along with either of these strategies. The legal ability to rent out part, or all of your property, may come with conditions. 

Deciding if you want to house hack or live in the rent is a decision that needs to be made by each individual. Having said that, the track records on both of these methods of real estate investing are solid.

Millionaires have been made and many were able to fund their start with NONE of their own money! Want to find out how?

If you have any questions or would like to schedule a phone call, you can schedule one directly here: https://gocanadianmortgage.com/book-now/   

Find the rest of this 16 part series and our blogs here; https://gocanadianmortgage.com/blog/

Plus...

Don't forget to keep on eye out for our post, the seventh part of our series, and  One of the most lucrative ways to succeed in real estate; Becoming A Success in Real Estate - The Brrrr Method.

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