Real Estate Investing in Victoria, BC and around Vancouver Island
Real estate is one of the most profitable sectors for investment in the world today. Depending on the type of property in question, owning a piece of property provides numerous opportunities to make money.
Profiting from real estate investment generally involves buying a piece of property with the intent to either resell or rent it out. Profitable resale relies on some knowledge of the real estate market, ensuring that the property is bought for a good deal and can be sold for more. Short term reselling is called flipping, and it can be risky.
There is no assurance that a property can be resold within a specific time frame, so an investor operating on a limited budget may find themselves forced to sell the property at a loss to escape the accumulating costs of managing it. Many investors buy a piece of property with the intent to fix it up and sell it, which can be effective, but some of those investors fail to budget appropriately for the associated costs and end up in a similar hole.
Having been warned of the easy pitfalls of real estate investment, a smart investor can hold their properties as their primary source of income. One of the most common ways that investors profit from real estate investments is buying to rent. By holding a residential or commercial property, acting as a landlord, and admitting tenants, an investor can potentially charge enough in rent to cover the property’s expenses.
Once a property’s mortgage is paid off, profits grow exponentially. At the point the property is under full ownership of the investor (or as long as there is enough equity in the house), the profit from that property can be put towards another, further increasing the return on investment.
Philip Bisset-Covaneiro is a registered financial planner in Victoria - with Investors Group - and has been running his practice for over 10 years now. He passionately takes care of his clients and what they need help with around their financial planning: mortgages, insurance planning, risk management, estate planning, working with wills, long term retirement planning, side investments and help generating additional income streams. He is licensed in British Columbia, Alberta, Ontario and Quebec.
Philip Bisset-Covaneiro and his financial planning team – are totally centered on each person as every single client and his/her financial situation is unique!
VictoriaRealEstate.com is comprehensive real estate website that offers direct access to the latest
properties for sale in Greater Victoria. The full service Real Estate business provides its clients
with a superior level of service by providing assistance through the whole process of buying and
selling real estate.