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Newmarket Ontario Landlords Talk About Investing and Becoming Successful With Newmarket Rental Property

January 7th, 2017 · No Comments · Newmarket landlords, Where to invest in Ontario Rental Property

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Newmarket Rental Property Advice – How You Can Become a Successful Newmarket Ontario Landlord

Every landlord wants to buy the right investment property. After all, if you buy in the right area with the right type of property you are well on your way for success.

Experienced and profitable landlords tell us that buying the right property in the right area is absolutely essential for both short term and especially long term success as a landlord. Even if you are the most fantastic landlord ever, if you are in the wrong place with the wrong rental property it will be tough to succeed. Find the right place and the right property and your odds of doing well multiply fast!

This is why Newmarket landlords have been experiencing ‘wild’ times over the past year (in a good way!) and why it’s a place you should look at when investing in residential rental properties.

Aren’t All Properties Appreciating?

The media keeps telling us Canadian property prices are going up, up and up. However, smart investors know that not all markets are created equal.

The reality is prices are not appreciating equally across Canada and some markets are even dropping.

Vancouver and the Greater Vancouver Area (GVA)

The Vancouver and Greater Vancouver areas have seen some terrific appreciation over the past five years. The problem for residential rental property investors is the cost of getting into the market.

With prices so high, it will cost you hundreds of thousands of dollars to buy a property. And with such high prices can you cover your mortgage? Can you cash-flow? Can tenants afford the higher rents you need to cover your costs?

Toronto and the Greater Toronto Area (GTA)

The Toronto and Greater Toronto Area is similar to the GVA. The market is hot, prices are rising and there is a large number of good tenants in the area. The problem is prices are very high and rental rates don’t make sense for many experienced investors.

Still, with the lower prices compared to the GVA and the larger number of good tenants it’s a very attractive area.

Where Should You Invest in the GTA?

As we mentioned above in many ways the entire area has a lot of potential. The key is to find a property that meets the needs successful landlords look for before investing our hard earned dollars.

One area that many landlords are investing is Newmarket rental property. Why? Because if you look at it the ‘needs’ we wrote about outmatch other areas in the GTA.

1. Can I Get In To The Market?

Yes.

Prices are still lower than Toronto and other popular urban areas such as Richmond Hill. And the good news is if you get in now Newmarket property prices are rising fast.

2. Are There “Winning” Properties Available To Buy?

Yes, but as we said prices are rising fast and the best rental properties are getting bought up.

3. Where Are the Winning Properties?

You have to avoid certain areas such as the “dog patch Newmarket” and invest in winning areas such as near the South Lake Regional hospital.

4. How Are the Rents?

Rents are high. This is good news for landlords who want monthly rents to cover their mortgage or even create some cash-flow.

5. How is the Tenant Pool? 

This is something experienced and successful landlords take extremely seriously. Of course you must always screen your tenants carefully with a credit check. Ontario Landlords Association Membership allows you to run premium credit checks at great rates! The good news is there are lots of qualified tenants in Newmarket, Ontario.

Investment Property Opportunities

Smart landlords are always looking for up and coming areas with great opportunities. Make sure you keep reading and networking and look into growing areas and consider becoming a Newmarket landlord. While looking there, Barrie landlords suggest you also look at their city as it’s also a great place to invest in 2016!

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