If becoming a real estate investor is a goal of yours, now is definitely the time to start thinking about this and start your research.
There are a few factors that you should consider and of course seek the advice of your financial advisor and institution as well.
Here are my top five points for your to consider before you make a decision:
- What is your current financial situation?
- How much risk can you take on?
- What is your ultimate goal?
- Are you in a position to take on more debt?
- And lastly, will your future self thank you for doing this now?
The straight up truth about real estate is that it’s never too soon to get into it. With Covid 19, the economy has taken an unexpected turn — those who thought they would never be able to get into Toronto’s hot real estate market now have an opportunity. Not only have the prices shifted, money is cheap to borrow.
And those who have wanted to acquire their second, third or income properties but weren’t sure they would be able to have a renewed opportunity as well.
Again, its time to have a real and detailed look at your entire financial and real estate portfolio and assess the next beast steps.
I am here as always to guide you and to help you find solutions that you may not be aware of.