When it comes to finding that perfect real estate investment venture, patience and hard work are essential skills when carving out the path towards success.
With the help of his skills and experience in Canada’s real estate market, Semion Kronenfeld, Canadian real estate investor, is someone who appreciates working within the real estate industry in order to maximize his investments.
In order to enter the residential, rental, or commercial real estate industry, you must first understand its financial market. This means learning relevant terminology, and developing a clear-cut impression of the local market and prominent players.
The rental market is red hot across Canada – whether you are looking for multiple properties or a multi-dwelling unit, modern Canadian rentals offer a unique and profitable opportunity. Not only do rental properties generate positive cash flow through rentals, but they also provide tax benefits. Plus, rental units will gain property value over time, making them an ideal avenue for those looking to get into the market for the first time, as well as for savvy investors.
When investing in the real estate industry, take the time first to fully understand the processes involved. Finding a team to support your work is a critical step if ever jumping in feet first, and a good option is finding a real estate agent, mortgage broker, and real estate lawyer that will all work together to form your team. Whether you are investing in the residential or commercial market, these experts can help you through the process and ensure you avoid major issues down the road.
Forced appreciation is a great way to increase your rental value faster than traditional appreciation. There are a few ways in which you can cause appreciation, including:
Although there is no one way to implement forced appreciation, this tool is quite lucrative when done right. Strategies such as turning a 1 bedroom, 1 bath into a 1.5 bath, or even taking the time to clean up your home’s exterior, will do wonders in the long run for your rental value if you ever decide to sell.
The real estate investment space is ripe for gains, and Simon Kronenfeld is someone who is uniquely set up to help those looking to diversify or add to their existing portfolio. His expertise provides him with an in-depth understanding of Canada’s competitive market.
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