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Building Wealth Through Real Estate

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By : David Tsegai    99 or more times read
Investing in Calgary Real Estate market with the right attitude can be rewarding. The common knowledge an investor should have are ability to assess property values, coordinating financial sources, and maintaining a solid relationship with Tenants.

Property assessment can be done through a professional Realtor but an Investor should have a basic understanding of Real Estate Market evaluations. Comparing similar sold properties to assess the value of the subject property is one of the techniques.

It is advised to compare properties in the same Calgary community if the data is available. Active properties in the same area can be looked at as a reference but not as a direct comparable.

After studying few market evaluations, an investor should know the main components of a current property market analysis.

Finding properly valued Calgary investment properties is a start. How does an investor acquire those properties? An experienced Mortgage Broker, one that knows about investment properties can be a gate way to secure a great financing. With current tight mortgage rules, not every lender wants to get involved in investment properties. Even the mortgage insurers are shying away from these kinds of properties.

Building a long term relationship with a reputable lender is another way to line-up financing for potential properties. The same lender might use existing mortgaged properties as a collateral for new investment or the lender could finance existing and new property in a way of Blanket Mortgage.

Also having an experienced Mortgage Broker and/or reputable Lender on your side could mean a discounted mortgage rate.

You found a good deal and financing is in place. The next step is to produce income from that property so that you can afford to buy more properties and to pay down existing mortgages. To accomplish that, you need to find long term tenants and keep solid relationship with them.

Relationship between the Investor and Tenants determines the outcome of any property investment project. A professional property management could be used if affordability is there. Otherwise an investor should learn the methods of screening tenants, determining reasonable rent, and satisfying maintenance requests.

The first investment property might be a challenge for any investor but Calgary has a lot of helpful resources to rely on. A list of Realtors can be found at Calgary Real Estate Board Website. There is a Mortgage Brokers list on Alberta Mortgage Broker Association's website and useful Landlord/Tenant information on Calgary Apartment Association's website.

Whether you are a first time investor or you are acquiring more properties, if you have the right information to rely on and professionals to work with, you are on your way to create wealth using Real Estate.
Calgary Real Estate
Specialist in a Sale and Purchase of Investment properties and residential homes and condos listed on MLS Calgary.

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