Quite a few times, people looking for income properties in London Ontario miss the boat because by the time they have confirmed all the facts, or, ‘run their numbers’ (usually erroneously), or, gathered solid information, the opportunity is gone because of other buyers or the property has been sold!
I see this daily, the fence-sitters, the ‘time is not right’ folks or in 75% of the cases, their analysis of the property and income is faulty, that their illusion or perception of cash flow, appreciation and risk tolerance is inconsistent with what wise investors do!
The average real estate professional relies on what he or she hears & perceives, a great real estate professional assimilates all the available facts, sifts out the chaff, and makes the go/no-go decision on his/her ability to adhere to what I call the brutal truth.
Great investors never buy because of what the market is doing, they don’t care. It can be up, it can be down, they understand cash flow, they look at the big picture and they think long term. They buy on expectations and sell on results! Period.
As J.P. Getty said, “Investors bank on climate, while speculators bet on the weather.” In other words, the real estate market works more like a barometer than a thermometer.
Getting good and accurate information and then being able to act decisively on that information is what really separates the wannabees and the wealthy.
Your boat will never come in if it never goes out.
Ty Lacroix Broker of Record & Owner
Not All Realtors Are The Same, This Is What We Do When We Work With An Investor Client
- First Time Client Meeting: We understand that each & every client has different needs, goals and financial and risk tolerance. We spend an immense amount of time discussing, understanding and designing a systematic approach to match or even surpass your criteria. It can be an apartment condo or townhouse to rent, to multifamily to small commercial properties.
- The Process: We then prepare a list of properties that will match your criteria and goals. We perform our due diligence on each property, verifying expenses, leases, licencing, permits, zoning, public transportation, schools, area rents, vacancies and perform our 44 point checklist to ensure we are thorough. If we have a successful acceptance of your purchase agreement, (which has conditions and wording to protect you) we work closely with your lawyer to ensure he/she has all the information required to ensure the closing takes place. We even perform a final walkthrough before closing to ensure that what you purchased is in the same shape or better than when you decided on the property and that all chattels are included and in good working condition.
- Leases and Screening Tenants: If you wish us to be involved in attracting tenants, doing credit checks and verifying employment and references and preparing a lease, we are very good at that. If, however, you wish to do your own tenant attraction, screening and leasing, that is fine with us, we do tenant leases only as an add-on to our services. We are not Property Managers.
- Optimizing Cash Flow & Capital Improvements: We will prepare a spreadsheet outlining what you can do to maximize your investment and cash flow in the years going forward.
- Selling: 99% of our clients are of the buy and hold mentality but weekly we are contacted by other owners asking us to sell their investment property or properties. Our selling process is even more meticulous than our buying process, the reason being, having all documentation and pro formas in place, we eliminate 90% plus of the stress in the closing period, proving that our properties sell for more and in less time!
When we work together, you’ll receive the following services that no other Realtor in the country provides, which includes:
- Access to my monthly wealth-building newsletter where I share different real estate investment strategies you can use to increase your income and build wealth.
- My special 6 part quality tenant training, I call it “The 80/20 System for Hassle-Free Management”, where you’ll learn how to screen tenants for your rental properties.
- Our 5 Point PropertySearch where we’ll help you identify undervalued properties.
- For properties that match your criteria, we will walk through them together and analyze the condition and profit potential.
- We will help you with legal contracts and amendments and we will negotiate your purchase for the lowest price and best terms.
- We will manage the closing process with all involved parties (lenders, home inspectors and appraisers)
- We will help you advertise, market, show and screen prospective tenants for your property.
- We will teach you How to Show & Prepare Your Property to Prospective Tenants
P.S. Investing is not risk-free. You can lose money depending on your skills as an investor. Your risk of loss is reduced dramatically because you’ll be buying a property that you can always resell. You could overpay for a property by not using a skilled Realtor, you could choose bad tenants by not using a skilled Realtor and not adhering to the steps a skilled Realtor will lay out for you.
P.P.S. Yes, I hear this all the time, what about a new roof, or new windows, appliances etc. So what? Your tenant is paying down your mortgage every month.
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