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Investors seek real estate for income By CA NCI Many these days are looking to buy income properties in their bid to money good Idea but one that has its own special ceroid- The flrn the potential risk At though real estate does tend to ale over tune there have been sudden reversals in the market Because there a potential for such declines investors should avoid putting their entire wealth into income properties That s pccially important if you feel you may need to gel your money out in a hurry some day Housing is not liquid in vestment you cannot turn it into cash a short notice Many people who invest in income property for the first time take out high ratio mortgages Typical is the investor who takes out a first and second mod gage on the income property uses the equity in his own home as security and nances the balance through secured or unsecured bank loans This very risky way of getting into the market In stead save percent down and finance the rest with a con- Before you choose your income property carefully consider what it Is you want Will it be a residential commercial or a retail property As you choose residential do you want a condominium or a large rest such as a triplex where you can live In one pan and rent the others Determine your needs Then get a professional real estate person some one who is well versed in the income property market involved in your Here a checklist you should review when you vc found an income property that appeals to you Are the rents legal under any applicable rent Is the unit zoned for multiple occupancy Is the existing tenant acceptable to you Is it in good repair Have a professional house in performed If all of these items check out have your chartered accountant forecast the net income for tax purposes your rental income minus the cost of paying the mortgage insurance realty taxes utilities maintenance cost of short- term vacancies He will then draw tips cashflow projection so you li know what your carrying costs will be For CA advice on TV see Your Wealth available on broadcast chan nels in Ontario and on satellite across Canada or see Money in the Bank on your community cable channel Mooeytar moil ad THESIGN Buying or Selling Discuss Yawned Estate NMd MVEBUIU to COME IN FOR A CLOSER LOOK GEORGETOWN DETACHED Location Quiet sir Ml In Features totally upgraded I Chun oak and brass cathedral eel bedrooms and finished basement In eludes dishwasher calling lin carpeting Price liking Call Dave or William CRAZY ABOUT Then this acre hobby farm could be for you All brick home with 3 bedrooms 2 full baths main Hoc family room and fireplace and round pool Plus stall barn hydrp and water 3 fenced pad docks and pond alia Asking only CallOaveBralda SO TOO GOOD TO MISS Bring Huge main Moor family room alone llraplace and insert walkout from basement large deck and setting are a lew of homes features On acres asking only Call Data this gorgeous all horn with for mal living and dining areas main floor family and laundry room huge master with closet and cen tral vac ate ale etc Asking only CallDanBrilda C2147 vie by ante Nick with Touch Rom Chartered The current selection of homes is practically unlimited We cant remember a time when the selection of new and existing homes has been better Theres a wide range from which to choose in every category If youre in the market for a home youre in luck The choosing will be easy the HERALD Homo of Hilton Hills If any Real Estate Company or Agent is interested in participating in this weekly feature call Carl Advertising Manager at 8772201