Investment Properties Archives - Page 2 of 2

Tax tips: How to claim your income property renovation costs

2 03, 2018

Tax tips: How to claim your income property renovation costs

By Vaughn at Flipside Homes|2018-03-15T17:19:12-07:00March 2nd, 2018|Investment Properties|

It is important to know the dos and don’ts of income property renovations. You cannot maximize the return on your investment property without considering taxes. That is why, in preparation for tax season, we are giving you our tips on how to claim the costs of your income property renovation. Our top tips on how to claim the costs of your income property renovation 1. Know what you can claim When it comes to taxes, it is important to know what you are able to claim. One of the main categories you can use to claim the costs of your income property renovations is capital expenses. What are capital expenses? According to the Canada Revenue Agency, they are “renovations and repairs that extend the useful life of your property or improve it beyond its original condition”. For example, if you

How staging your home can increase your investment property resale value

26 01, 2018

How staging your home can increase your investment property resale value

By Vaughn at Flipside Homes|2018-01-22T10:32:13-08:00January 26th, 2018|Investment Properties|

Having an investment property is all about profit. If you are looking to resell, one of the most effective ways to maximize your value is to have your investment property staged before putting it on the market. However, not all staging is created equal, so how do you get the most bang for your staging buck? Staging tips and tricks to help maximize your investment property’s resale value 1. Don’t forget about the outside First impressions are important, especially when it comes to homes. While many people stage the inside of their investment properties, few people remember to think about the outside. Staging the outside of a property is a big project, and it can suck up both time and money. So if you are on a budget or have little time to stage your property, we suggest that you

Income property renovations Vancouver: Appealing to your buyer

6 01, 2018

Income property renovations Vancouver: Appealing to your buyer

By Vaughn at Flipside Homes|2017-12-15T23:31:55-08:00January 6th, 2018|Investment Properties|

When you are looking to use a house as an income property, appealing to your renter or buyer is key. Renovations can help ensure your place is desirable… but only if you make choices with both high buyer appeal and return on investment. How do you make sure your Vancouver income property renovations meet these two criteria? You follow a simple set of do’s and don’t’s… The Do’s of Vancouver income property renovations Do focus on functionality. Functionality is a high priority for most buyers. Therefore, when you are planning your Vancouver income property renovations, take the time to walk through the house, considering what you would need in the space. Keep an eye on details, such as if there is enough storage space in the house. Trust us that, if a home is functional, it will be much more

Renovating an income property: How a project manager can help

2 12, 2017

Renovating an income property: How a project manager can help

By Vaughn at Flipside Homes|2018-03-15T18:00:59-07:00December 2nd, 2017|Investment Properties, Renovation Tips|

Budget is of utmost importance in an income property. That’s because an income property is a business – not a home – for the property owner. Whether you’ve purchased an income property recently, or a few years have passed and it’s time to renovate, renovating an income property should be executed differently than a home. In our experience, income property owners benefit greatly from the business-minded advice and experience of a renovation project manager during these times. Here is why. Your income property is a business You probably didn’t buy your income property just for fun – this is an investment that you expect to generate some healthy financial returns for your family. In Vancouver, investment property owners must run a tight ship – real estate prices are impossibly high, yet rents rarely cover your monthly costs. That’s why,

Flipping a house? Where to spend your renovation dollars

25 11, 2017

Flipping a house? Where to spend your renovation dollars

By Vaughn at Flipside Homes|2017-11-18T12:58:45-08:00November 25th, 2017|Investment Properties|

If you’re flipping an investment property, you will want to be smart about your renovation budget. For a flip, every dollar counts as we consider the resale value of the home. By thinking practically – rather than emotionally – about the best places to invest in your renovation, you can create a look that appears to have a high price tag, but was achieved for only a small investment. Flipside Homes specializes in helping property investors flip homes and condos with well-managed home renovations in Vancouver and area. Use the tips below to plan a profitable renovation on your investment property. Renovate the kitchen A renovation to the kitchen, even on a budget, almost always results in a higher resale value for the home. Although kitchen renovations can be expensive, they can also be done well on a tight