News From Suzanne Reid

 

Hello and happy July! Summer is finally here! Kingston patios are now opened and our downtown is looking alive. We are still keeping up precautions, and doing our best to stay safe. Work is being done to provide more housing in this beautiful, fast-growing city, so there are many investing opportunities!

                                 

 

I’ve heard that there have been so many who have lost in the stock market because of a nasty thing called coronavirus. I know a few who have done poorly in stocks, but those same people are doing incredibly well investing in real estate, as people will always need a place to live. It’s a basic need and essential service after all. Real estate is booming!!!

                                 

 

In June I got to know a few of the awesome contractors who are a part of the Penguin Basements family on many recommendations. I have added them to my ever-growing team. They are fast, efficient, organized, compatible, and have an incredible show room of finishes to make your future tenants a beautiful home to live in. Guy, Rodrigo, and Matt have all been really easy to work with and make the entire process pain free!

                                    

 

 

 

 

 

 

 

 

Passive Income Real Estate

Passive income real estate is a strategy through which an investor can create earnings without having to be actively involved. The term “passive income” is used loosely, as the level of required activity and involvement varies based on the investment type. Some common examples include rental properties, or earnings made from investment portfolios.

One of the keys to building a successful passive income real estate investment involves planning and creating a sound business strategy. This includes versing yourself in your target market, whether it be the same neighborhood as your primary residence or even out-of-state, so that you are aware of local real estate trends and values. The information you glean from the real estate market will help you pick out the best possible market to hold a passive income property, as well as identify property listings that promise good cash flow. After the research phase transitions into the execution phase, you will also need to have a strategy in place on how you will manage tenants, finances and paperwork, as well as the property itself. As you can see, passive income real estate is quite a complex process, and perhaps the term “passive” is a little deceiving. However, with plenty of planning, research, as well as knowing the right questions to ask or common mistakes to avoid, you will be well on your way to a sound strategy that can make your life much easier in the long-run.