À qui la chance?

Here at mar-vo, we like to keep up to date with what’s printed in the local papers. And when the papers publish a great series of well-researched articles that are real-estate-related, we let the world know that they should read it. This past spring, the Montreal Gazette ran a fantastic series on the ins and outs of becoming a landlord. You can access this series of articles here.

It covers some of the basics you ought to consider prior to sinking a sizable chunk of change into remodeling and renting out that triplex you had your eye on. If you still find that landlord-ship is up your alley, get down to business and seek professional help. No, we don’t mean a psychiatrist- we mean an investment dream team.

Mar-vo recommends the inexperienced investor put together a team of professionals that can provide guidance throughout the investment process , starting with the purchase of a suitable property. Start with choosing a real estate lawyer or notary, a well-informed real estate agent, a certified building inspector, and a financial advisor. Each brings you specialized knowledge of owning apartment units, such as tenant-landlord law, especially what legal implications are involved for the landlord, as well as those involving project financing and renovations. It will seem like more expense to an already expensive business proposition, but to ensure a feasible business plan, one needs to cover all their bases to ensure success. Do not skimp on your dream team- your future Trump-esque empire depends on it.