income property Archives - Flipside Homes

The pros and cons of buying an income property in Vancouver in 2019

18 10, 2019

The pros and cons of buying an income property in Vancouver in 2019

By Vaughn at Flipside Homes|2019-10-02T16:59:23-07:00October 18th, 2019|Investment Properties|

With Vancouver's real estate market returning to "more typical levels", now may be the time to consider investing in an income property. Not sure if buying an income property in Vancouver is right for you? We have put together some pros and cons to help you decide. The pros of buying an income property in Vancouver 1. Predictable monthly income An income property in Vancouver can be a reliable source of revenue as long as you have tenants in the home. Who would not want to make additional money every month? The best part is that when you are done with your income property, you can always put it back on the market. 2. Increasing property values Property values are generally trending up. That means if you can buy the right property at the right price, you are going to

The 5 types of Vancouver income properties you should invest in

31 08, 2018

The 5 types of Vancouver income properties you should invest in

By Vaughn at Flipside Homes|2018-08-07T10:37:01-07:00August 31st, 2018|Investment Properties|

Having a Vancouver income property can already be lucrative. And with housing becoming increasingly scarce, the cash flow generated by a Vancouver income property is only going to grow. In order to get the best return, however, it is important to select the right property for you, your neighbourhood, and the types of tenants you are hoping to draw in. 5 types of Vancouver income properties In order to select the right Vancouver income property for your situation, it is important to know what options are available to you. That is why we have not only laid out five key types of Vancouver income properties, but have created a list of the pros and cons for each one. 1. Secondary suites Secondary suites are booming in Vancouver. Why are they so popular? First, they allow you to enter the Vancouver

5 red flags to watch out for when purchasing an investment property in Vancouver

20 07, 2018

5 red flags to watch out for when purchasing an investment property in Vancouver

By Vaughn at Flipside Homes|2018-06-20T13:11:15-07:00July 20th, 2018|Investment Properties|

It’s a good time to be looking at buying an Investment property in Vancouver right now. But how do you ensure you don’t end up with a lemon? There are a few warnings signs to watch out for when you are on the hunt for an investment property in Vancouver. The 5 warning signs that an investment property in Vancouver could be a lemon 1. It is in a bad neighbourhood If the neighbourhood is bad, you are generally going to have a more difficult time reselling your investment property in Vancouver. How do you know the calibre of the neighbourhood though? First, take a look around. Are there lots of empty storefronts? Are the streets dirty? Do the buildings seem rundown? If so, you are likely looking at an area on the decline. While your eyes can help

Buying an income property in Vancouver? What you need to know first

18 05, 2018

Buying an income property in Vancouver? What you need to know first

By Vaughn at Flipside Homes|2018-04-24T13:11:46-07:00May 18th, 2018|Investment Properties|

With rental prices skyrocketing, it is the perfect time to have an income property in Vancouver. Having an income property in Vancouver, however, is not as simple as just buying a home or condo and renting it out. So what do you need to know before purchasing an income property? What you need to know before purchasing an income property in Vancouver 1. Rental laws It is important that you review the rental laws that govern your income property in Vancouver. These include laws related to the property, as well as those governing your rights and responsibilities as a landlord. To best protect yourself, consult with a real estate lawyer to review all relevant laws before you purchase an income property. 2. Regulations around short-term rentals This is especially important now as there are a number of new regulations governing

Should you renovate your Vancouver income property?

6 04, 2018

Should you renovate your Vancouver income property?

By Vaughn at Flipside Homes|2018-03-23T08:52:17-07:00April 6th, 2018|Investment Properties|

It is not hard to see the benefits of a Vancouver income property. It's common knowledge around the Lower Mainland that there is always plenty of money to be made in income properties. Yet, it can be hard to know when to put cash into your income property, and when to renovate it. The benefits of renovating your Vancouver income property Renovating your Vancouver income property has an immediate, noticeable financial impact. Renovations will increase the perceived value of the property, allowing you to charge a higher rent to reflect the upgrades you have made. A renovation also helps keep long-term tenants happy, especially if the upgrades are ones they have been asking for. For those between tenants, a renovation can make the space appear fresh, drawing new people in. Remember that renovations are not all or nothing, so

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,