The Power of Owning One Investment Property!
I often get asked by people who are thinking about investing on why Invest in Real Estate. Specifically, what are the benefits of Investment Real Estate Canada.
Here is an example of buying just 1 Investment Property. Are you ready for the Math?
One more thing about investment real estate Canada
Remember that your Canadian real estate investment has tons of tax deductions associated with it!
You can write off most of your expenses related to insurance, legal fees, property taxes and maintenance costs to name a few.
This obviously helps to reduce your tax burden greatly on this income.
You should consult a good accountant – it boggles my mind why people think they can be the ‘jack of all trades’
Remember – ‘Jack of all – master of none’.
As I indicated in some of my other articles, the key to my growth and success has been surrounding myself with a team of experts.
Investment real estate Canada with a focus on cashflow?
This is the thing, everyone seems to get all caught up on cashflow.
I get it, we all want our investment to make a bit of profit that we can see. I look at it as a long term commitment, that slowly and steadily is continuing to grow.
But let me take your through an analogy about investment real estate Canada as a 3 course meal!
Appetizer: I like to think of my cashflow as the appetizer – sometimes we get it, sometimes we don’t!
Having a great appetizer is always a welcome addition to a meal, but I won’t starve without it.
The main course: This is my mortgage or principal pay down. Every month without fail my tenants pay for this.
Without it – well I starve. It is the most important part of my meal.
Desert: Of course this is always a treat. I look at any appreciation as the desert to my meal.
Fortunately for me – the Canadian real estate market has done well, and we continue to get spoiled with desert – or the icing on the cake as they call it!
At the end of the day, the lesson to be learnt is that mortgage pay down is the key to my portfolio.
Remember – investment real estate Canada is a long term strategy!