Buying Your First Rental Property? 10 Expert Tips Every New Investor Should Know
Posted by Adam Chahl on
Buying your first rental property can be a smart way to build income and long-term financial security. In Canada, with rising housing demand and more people choosing to rent, investing in a rental property has become a popular move among professionals, retirees, and couples. Whether you're thinking about a small apartment or a detached house, the key to success is doing your homework. This guide will walk you through 10 essential tips to help you make informed decisions and avoid costly mistakes.
1. Know Your Finances First
Start by understanding your financial situation. Do you have enough income to support a mortgage, plus extra for maintenance and vacancies? Most lenders in Canada require at least a 20% down payment for rental properties.…
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