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Real estate transactions: What to look for in investment property

Investing in property can be a very wise move financially. But when getting involved in these kinds of real estate transactions in Canada, a potential investor would do well to do some research before diving in head first. For a first time foray into the world of real estate investing, going small at first might be prudent.

There are some things a fledgling investor should look for when trying to find that perfect investment property, and one of those is the chance for gainful employment. Renters don't want to move to an area where they can't find work. It's important to do the homework on this one.

Another very important factor is location. Some very pointed questions should be asked, such as whether the property is close to schools, stores, banks and other amenities? Is it in a good part of town? Will tenants be safe? Properties that are central to most things are more attractive to potential tenants.

Rent is where it's at in an investment property. A would-be purchaser should find out what the median rents are in the neighbourhood. Rents should cover the investor's mortgage payment and other expenses like taxes and insurance. 

Real estate transactions can be both exciting and complicated, especially when dealing with investments. A lawyer in Canada who specializes in real estate law would be able to guide his or her client wisely when it comes to these types of deals. A lawyer will always have the back of his or her client and will ensure any contractual agreement have his or her client's best interests in mind according to real estate law.

Source: edmontonjournal.com, "10 things to consider for any real estate investment property", Stephen Moranis, Accessed on Dec. 29, 2017

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