Many individuals in the city are considering all their investment options. But what would be the best for you if you had to decide? Questions you should consider when deciding what investment best suits your needs are the following:
- Long term or short term investments
- Amount of return you are looking [whether it be big amounts quickly, or a big amount over a period of time]
- Something physical, you can call your own
- You can call your own shots investing in real estate, such as a rental property. You decide who your tenants are, how much to charge in rent, how you will maintain/manage the property, and when you want to sell.
Here are some of the benefits of purchasing an investment property:
- Extra cash flow every month in your pocket
- An extra property value to add to your net worth
- Tax deductions (Write-offs on rental properties)
- Increase in value of property over time [gaining not just a cash flow monthly, but equity as well]
In short, with this investment, you are in control of it at all times. If you purchase an investment property in the city of Toronto, there is always a demand for rental properties. Therefore, you will always have a renter, ready to pay a premium price for your location. If you decide to purchase in another area or City be sure to do your due diligence on rental markets in the area.