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How to Retire for the Price of a Condo? Here's how!

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Thinking of selling your home? Do you want to retire and make your money work for you? The decision is about how you utilize your money, what decisions you make, and how you can maximize its potential.

Now you are thinking that you might want to downsize and you have looked through various websites and have seen the prices. Buying a condo in Vancouver does not look as financially attractive as it once was. Prices are now much higher. Imagine being able to retire for the price of a condo.

Have you considered investing in the right type of real estate that can deliver an income - it's a way to reinvest your money to boost your income. Real estate investing is a path for building your personal wealth - a way in which to create sustainable long-term value.

But keep in mind that investments are all about your objectives. For example, investing a portion of the money from the sale of your house can be a serious consideration.

Real estate investing is a path for building your personal wealth - a way in which to create sustainable long-term value.

1. Create a Sustainable Investment Strategy

Short term rental, long term rental, commercial real estate - which one is right for me? Knowing and not knowing what type of real estate to invest in, is not easy. Better yet, seeing the flaws in different strategies is hard, but finding the right real estate, means that you can begin to look at what you are comfortable investing in and what works for you.

The best case scenario is to consider the location, what will provide optimal returns. However, those looking for long-term, consistent income, may be best served by looking at properties that provide a regular, stable income.

2. Find the Right Avenue to Create Value

Do you want to be financially free? Using real estate means that you can begin to think about which investing avenue is right for you. Investing in real estate can be very rewarding - it's about building a solid, stable business that will enable you to be free. It just means that you have to find the investment that works for you.

Start by researching the different industries of real estate - these are retail lease investment, multifamily properties (apartments), and mobile home parks. Each of these are unique niches, and you will want to work closely with specialists who have a strong understanding of these markets. Remember, it's about researching and finding a niche investment that suits you best. Once you decide which one, you can begin to think about building an investment portfolio that will help you to have a great retirement.

3.  Mobile Home Parks?

Mobile Home Parks? Many people don't consider mobile home parks to be the next thing in real estate - yet, they are a great way to create value. Imagine this, over the past year there has been an 83% increase in the number of mobile home parks sold that surpassed the one million dollar price point. Add in that 19% more buyers are residing in the Pacific Northwest and you can see how this market is becoming something of a special commodity.

They Have a Superior ROI

Between attractive rental spreads and value-added opportunities, mobile home parks provide some of the most predictable returns out there. For 12 months ending in March 2015, the gross returns for three major home parks operators hit 44% according to the Wall Street Journal.  At the same time, most people lived 400 km away from their investment.

Lower Cost and Ease of Ownership

One of the most common excuses most people lean on to justify not purchasing direct real estate investments in their portfolios - upkeep. We have all heard tales about high maintenance tenants that want help unclogging toilets, changing a light bulb, unlocking the door when they forget their key. It seems too good to be true, but mobile home park investing eliminates that dynamic.

In mobile home parks, residents own their own units. You collect the pad rent. So if they lock themselves out, break something, or want new appliances - that's all up to them and comes out of their pocket. You would be the park owner, and you are only responsible for the landscaping and any other community features you choose to include.

 

4. Multifamily?

People often think multifamily can be a risky investment, or that it might be too big a step for them. Sometimes though, you need to consider different opportunities and investing in Vancouver multifamily properties is one of the most powerful investment strategies you can use to create astonishing cash flow month after month.

There’s no doubt that finding the right property is key. However, there are some important elements to consider when making the right property investment. Often there is an investment dream to buy real estate or realize cash flow without thinking through implementing the right strategic plan for a multifamily property.

Your strategies can affect:

  • Real estate investment portfolio, returns.
  • Operations, policies, and procedures, which can create further returns.
  • Ability to be proactive and anticipate rental trends.
  • Exit strategies that maximize after-tax cash flow.
  • Investing in real estate has a lot to do with capital growth, so choosing a property that is likely to increase in value is the most important decision you will make.

5. Cultivate Enduring Value by Retiring Your Wealth The Right Way

You poured yourself into your business and your assets - giving of your time, energy, and your finances. At this point, you've considered that it is about the life you poured into your property and your wealth. First you need to start figuring out how you will plan out your goals and your portfolio.

A thoughtfully created plan can be an aid to everyone involved - not only in terms of creating wealth, but also in terms of promoting harmony, personal fulfillment and giving you the confidence to make investments that will retire your wealth the right way.

A hot real estate market can create a retirement windfall and invest that money into a stable investment return can be a fruitful way to secure a fulfilling retirement, you just have to strategize on how to build the right portfolio for you.  At Klein Group, we have the in-house specialists to help you acquire your investments, optimize it for the best possible returns and set you up for a bright and stable retirement.

Register for an Custom Investment Report and Retire Your Wealth the Right Way

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