The Toronto real estate market, along with the surrounding communities, offers a wide variety of possibilities for those looking to invest in real estate.
While many people feel that investing in real estate is not possible or suitable for them, it can be an essential part of building a strong financial future. Even if the subject seems intimidating initially, invest a little time to learn the basics, and you may find that investing in real estate can be a profitable venture for just about anyone.
Whether or not you have down payment money; whether you think there are deals to be had in your area; whether or not you are good with renovations or wish to be a landlord…there are real estate ventures that may work for you. Just consider some of the possibilities:
- Flipping homes ie. buying cheap or rundown homes, renovating them and re-selling them for profit
- Rental income eg. from apartments, duplexes and houses, legal basement apartments
- Income from land leases, space or storage rentals, cash crops, etc.
- Commercial real estate eg. store and office leases, gas stations, laundromats
- Tax liens and foreclosures
- Refinancing and second mortgage investing
There are so many options available in the area of real estate investing that you would need a lifetime to study them. If you’re new to this, begin by just delving into what interests you and learning more. As you learn, you’ll gravitate towards something that suits your needs, personality and budget, and from there you can branch out if you choose to.