Although this isn’t specific to London (or even Canada for that matter) the lesson is generic for almost all income properties.
Many factors make this a great time to invest. Mortgage rates are at a 40-year low, and homes in many areas are ultra-cheap. Meanwhile, demand for rentals has risen in more than 500 cities, according to recent Census data. That, in turn, has enabled landlords to charge more.
This from a CNN money story titled Cashing in on Rental Property. One of the greatest benefits of owning income property is that like a fine wine it gets better over time. Your property appreciates and rents increase (although not usually 10%+ year over year). All this while you haven’t put a single penny of your own money into the property since you bought it. The cashflow from tenants has increased your equity by paying off the mortgage, covered repairs and maintenance, and in most cases left you with extra cash in your pocket.
All from putting your money in the right place.
If you are considering investing I encourage you to get in touch with me as there are a handful of investment properties in London market right now that will be wealth generators for someone in the near future. Why not you?
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