How to Make Income from Rental Property | CIRCL (1)

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How to Make Income From Rental Property

• Here is some advice from experts to keep your
  rental money smooth in the right direction.

2
Keep Your Goals in Mind

• Investors need to know why they are in the rental
  market and what they want to realize financially.
• If the goal is to live reflexively off the rental
  income, then investors should know how much
  income they'll need.
• The tax rate changes as income becomes reflexive
  and "your tax rate can be zero percent" because
  you can deduct the decrease from your taxable
  income.

3
Put Your Financial House in Order

• Knowing your income and expenses will help you
  get loans and, successively, buy more property.
• Don't forget to include taxes, insurance,
  maintenance, management, utilities and the
  reserves for major repairs, like a new roof.
• It also pays to learn financing and talk with
  mortgage brokers to find programs to buy the
  property with as little money down as possible.

4
Learn Your Market's Opening Rates and Property
Ratings

• There are areas rated A through F, and they all
  sell and rent for different rates.
• Keep your opening rate to 5 percent or less, so
  you won't be stuck with an unrented property for
  months at a time.

5
Look for Real Estate with Great Prospective

• Properties that tend to do well are near schools,
  expanding retail or fashionable points of
  interest, local transportation and surrounding
  malls.
• Once it's yours, maintain the exterior and keep
  your costs down with desert landscaping, low-flow
  toilets and tank-less water heaters.

6
Keep Your Options Open

• Consider smaller markets within secondary
  markets, how well the house was built and how
  much people are paying rent in the neighborhood.
• Before buying, he checks how well the house was
  framed, who the tenants would be and what he can
  add to the property to reasonably increase the
  rent.
• The question is whether the existing tenants can
  pay a little more for a better product.

7
Don't be Trapped by Low Interest Rates

• If a property is already 30 years old and would
  cost the same to build it, then don't buy it.
• Make sure your home has enough value to get the
  returns you want when you eventually sell the
  property.

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Contact Us

• Suite 703, 481 university avenue
• Toronto, ON,
• M5G 2E9
• Phone no. 18775524725
• Email id we_at_circlapp.ca

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