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Investing in Real Estate
Hands-on Approach Required

Many investors who lost money in the stock market are looking into property investments - mainly because they are tangible, tend to increase in value, serve as shelter, and do not lose value overnight. Unlike stocks, however, experts say property is an active investment that requires a hands-on approach.
Timing, they say, is the most important factor to consider before entering the rental market. Prospective landlords are urged to closely monitor existing-home sales, building permits, mortgage defaults, foreclosure sales, and interest rates to determine the health of the local housing market and economy. In addition, investors must set the monthly rent based on the mortgage principal payment, interest, taxes, and insurance (PITI) as well as the cost of property management services and a contingency fund to make repairs and keep them afloat when the property is vacant.

To determine if the monthly rent is reasonable, they should look at the Canada Mortgage and Housing Corps. statistics and the for-rent page in the newspaper and ask about yearly appreciation rates and rent-control laws.

Finally, landlords must be familiar with such legislation as their individual Province's Tenant Protection Act; and any Federal Housing Acts.

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