Can't Make A Decision To Buy Real Estate in London Ontario?

We all have been there and later say we should have or could have or have heard the stories.

 Here is a Buyer's lament that I feel covers it all:



I hesitate to make a list
Of all the countless deals I've missed;
Bonanzas that were in my grip -
I watched them through my fingers slip;
The windfalls which I Should have bought
were lost because I over-thought;
I thought of this, I thought of that,
I could have sworn I smelled a rat,
And while I thought things over twice,
Another grabbed them at the price,
It seemed I always hesitate,
Then make my mind up much too late,
A very cautious man am I
And that is why I never buy.



When tracts rose high on Sixth and Third,
The prices asked I felt absurd;
Whole block-fronts bleak and black with soot-
Were priced at thirty bucks a foot!
I wouldn't even make a bid,
But others did -- yes, others did!
When Tucson was cheap desert land,
I could have had a hip of sand;
When Phoenix was the place to buy,
I thought the climate much too dry!
"Invest in Dallas-That's the spot!"
My sixth sense warned me I should not,
A very prudent man am I
And that is why I never buy.

A corner here, then acres there,
Compounding values year by year,
I chose to think and as I thought,
They bought the deals I should have bought.
The Golden chances I had then
Are lost and will not come again,
Today I can not be enticed
For everything's so overpriced.
The deals of yesteryear are dead;
The market's soft -- so's my head!

Last night I had a fearful dream,
I know I wakened with a scream;
Some Indians approached my bed --
For trinkets on the barrelhead,
(In dollar bills worth twenty-four,
And nothing less and nothing more),
They'd sell Manhattan Isle to me,
The most I'd go was twenty-three.
The redman scowled: "Not on a bet!"
And sold to Peter Minuit.
At times a teardrop drowns my eye
For deals I had, but did not buy;
And now life's saddest words
I pen"If only I'd invested then!"

As you can see, you are not alone. I can help you through the decision process with facts and research, you are in charge of your emotions. If that works for you, let's get together.
Ty

Becoming A Profitable Landlord In London Ontario

Becoming a Profitable Landlord

When you are buying your first rental property and becoming a landlord, there is much to learn. How do you find tenants? What should I charge for rent? Should I update the places to get more rent? How do I tell the tenants they are late on rent?

 

There has been a lot written about how you have to rule with an iron fist to keep your tenants in line. That may or may not be true; however, I have found that every property is different, as is the tenant.

Most first real estate investment property owners buy something that they would move into themselves as their main factor in the decision process aspect .There's many decisions along the way, and being a potential tenant yourself makes those decisions much clearer.

First off, when it comes time to market your place, you are part of the target audience, so it is easy to find the right place to advertise. Just ask yourself... how would we go about looking for a place? Most mistakenly put costly ads in the real estate section of the newspaper initially, bringing in the completely wrong renters who are completely not interested. If you switch to advertising in places where you would look, 90% of the people who come will be actually interested, the place will rent faster, and the tenants will be happy to be in your place.

That leads to the next reason why buying something you would live in as your first rental property makes the landlord learning process so much easier. The tenants! These will be people that you basically get along with because they like what you like and if you meet them, they will most likely like you, or they would not be renting it. You will make sense to them, and they will make sense to you. When you are at odds with your tenants, the whole interaction and experience can be painful, so getting along helps tremendously.




Why, you say, should I care if my tenants are happy? Everything is easier. They will more likely pay rent on time, respect & keep your place in shape, and stay longer. Believe me, there is nothing like a completely wrecked apartment by a short-term tenant. Sure, you can charge money for damages, but it will still take time and be a hassle to get it back up to a rent-able state. In addition, dealing the whole time with a bitter, angry tenant is no fun either.

How do you make your tenants happy? There are a couple things you can do. One is to allow tenants some flexibility with painting and decorating. 95% of the time, tenants actually do wonders with apartments and leave them with a better style than you could have done yourself.

Many times, you can even get good ideas to carry over to the other apartments to make them more marketable, like some basic drapes & mounted wine racks. You could even have a tenant call us to ask if they could plant some flowers by the porch. Welcome it. It is an indication that they feel invested in the place and feel at home. Of course, you do not let someone remodel your kitchens... It is small things that are easily undone, but make the tenant feel invested and at home.

Another thing to do to have happy tenants is to give them a sizable re-signing bonus when their leases end. And unless it is painfully needed, do not raise the rent, especially if the tenant is someone who pays on time and is easy to deal with. You can offer a $500 re-signing bonus each year with rents at $800. It is almost a free month but the cost of a tenant turnover between lost rent and the make ready is usually around $1200, so it is good for them and you.




Most landlords try to rent out places at the maximum. When you make them a somewhat good deal so that many people will inquire, you will have a better chance of a good fit and that they will be happy and stay long. Do not overcharge because feeling ripped off is one main reason a tenant will leave.

Try to treat your tenants with a lot of respect. Obviously, unless it is an emergency, give them 24 hours notice before you enter their units, and if repairs take an extensive amount of time or hassle on their behalf, give them some rent back. Always answer their issues within a day, at least with a phone call.

Becoming a landlord is definitely a learning experience. Everyone has their own style, and even different properties may prescribe a different style. Just be open to handling your rental property business (which is basically your tenants) with respect rather than the stereotypical overbearing attitude.

I have clients who have very few vacancies if at all, this stuff works!

Houses & Condos For Sale Hunt Club London Ontario

The neighbourhood of Hunt Club and Hunt Club Green in London Ontario  is a mixture of old and new, yet upscale and vibrant.
 

Easy access to downtown London either off of Oxford Street West or Hyde Park Road.This neighbourhood has some great shopping and services for fresh fruit and vegetables, bakery and gourmet foods,  Remark is a chef's delight, Starbucks, Shoppers Drug Mart, Gordon Jewellers and less than 10 minutes to all the big box stores.

Within 10 km there are 9 golf courses, both private and public. There is the Sifton Bog, Springbank Park, Thames River and other great natural spaces nearby.

There are other nice neighbourhoods in London Ontario

Summerside, a Newer London Ontario Neighbourhood

     Summerside is one of London Ontario's newer communities and is located in  the South East of London, East of Highbury, north of the 401, West of Veterans Memorial Parkway (Airport Road) and south on Commissioners Road East.

    

      Summerside  has been growing at London's southeast edge of the city for about 14 years or so. Summerside holds a lot of appeal for those who wish to live in London, but whose work carries them to neighbouring communities such as St. Thomas, Ingersoll or Woodstock or quick access to Highway 401. 

   It is a popular area for younger families as house prices are attractive.  This community offers single family houses, condo townhouses, attached and detached condo bungalows and a gated condo corporation. There are houses being built all the time and the resale market is vibrant!

  

   Plenty of shopping, schools and churches  nearby.

    

Oakridge Park, Oakridge Meadows, Oakridge Acres, Great London Neighbourhood

Mention the word Oakridge to residents of London and you'll hear great words about these family neighbourhoods of Oakridge Park, Oakridge Acres and Oakridge Meadows.

Quick access to all that London has to offer yet private enough with large lots, greenery and privacy to enjoy your home, family and friends.

Oakridge is bordered by Springbank Drive to the south, has Hyde Park Road, Sanitorium Road and Oxford Street West running through it and is west of Wonderland Road.

Great shopping, schools, parks and service providers in this safe comfortable neighbourhood of London. Easy access to UWO (Western), it's hospital, research park and sports venues like the JLC, Grand Theatre, events in the park and more. Enjoy the walkways and fauna in the Sifton Bog.

For market statistics, pricing trends and an up to date list of all the houses for sale in Oakridge, every few months I update our Oakridge page.

 Get the latest condo and house prices for Oakridge in London Ontario