Tips for Investing in Real Estate in a Small Town

TIPS FOR INVESTING IN REAL  ESTATE IN A SMALL TOWN

real estate

More and more potential entrepreneurs are interested in investing in real estate in a small town. In part, this may have to do with the amount of talk about real estate investing in today’s economy. It seems that wherever you look, there are people willing to share their own story of how they got rich with real estate. While investing in real estate can generate a good passive income, you must enter into these types of investments with your eyes wide open and at the perfect price point. To be successful, you must make sure that you:

1) Start small and low risk.

In reality, real estate in a small town is going to be harder than in a big city like Edmonton. This is why you need to start out small. In fact, most successful real estate investors have started out small. They buy low-cost properties that sell below market value. They then sold these properties for a healthy profit after having renovated and lived in the properties for a while. Another good option is to buy a house that already has tenants and continue renting to the same tenants. Low-risk investments at first do not look very glamorous, but they are the path to real wealth and good passive income. As a bonus, low risk and small investments will allow you to get your feet wet without having to pay millions of dollars in mortgages. They are perfect for investors who are just starting out.

2) Study, study, study.

When investing in real estate in a small town, it is imperative that you carefully study each property before buying it. You should study the condition of the home, the price of housing in the area, the neighborhood and much more. Reviewing everything twice ensures that you do not get stuck. You should also investigate real estate investments in your area. You should familiarize yourself with contracts and tax laws. The more you know, the more likely you are to find large real estate investments.

3) Get a mentor.

No successful real estate mogul has done it by themselves. Either try courses or books created by a successful investor or take the time to look for favorable investors who can advise them. The creation of networks is an essential part of real estate investment since it allows you to learn about the experiences of experts who know how it is done.

4) Make it a business, complete with a business plan.

Real estate investors are professionals. They execute their investments like a business. They have a separate telephone line for their businesses, they dress the part, and they design a business plan that tells them where they are going. Real estate investors also set goals for their businesses, instead of just hoping to make “some money” from the properties.

5) Always do the calculations on paper.

You may think real estate in a small town is a slam dunk, but is it really? The only way to know with certainty is to calculate everything on paper. What is the total cost of buying, renewing and managing the property? Also, how much can you expect to receive for the property? Until you do all the mathematical calculations on paper and calculate them reasonably, you cannot determine which real estate offers are good and which are not.

These basic tips are those that real estate investors use to turn properties into real investment opportunities. Use these tips, and you will also be on your way to a successful career as a property flipper.

Tips to help make friends with your neighbor’s in a small town

Tips to help make friends with your neighbor’s in a small town

 

Needless to say, it is important, even fundamental, to get along well with your neighbors if you want to avoid midnight demons every Saturday night or the clipper at dawn on Sunday. Good relations with neighbors, which will lead to a climate of trust and friendship worthy of Desperate Housewives, are easily obtained with a few tips. It’s up to you to take the first step.

1-Celebrate Neighbors Day

Since 1999, Neighbors’ Day has been enjoying growing success every year. This is also the case for neighborhood meals. This kind of event may be organized on your street. And if this is not the case and you have a large yard, why not invite your neighbors? Everyone will bring something to nibble on and you can all have a good time.

2-Share a glass of friendship

When newcomers settle in the neighborhood, you can offer them to sit down and have a drink to get to know each other better. It’s a relaxed way to get to know them that will make them feel welcome.

3-Offer a homemade pastry

The favorite technique for most Canadians to get to know their neighbors is to arrive at the door with a basket of homemade pastries. Is making an impression on someone by tempting them with culinary delights not an excellent start? And besides, if you do not know how to bake, a basket of vegetables from the garden or a specialty wine will do the job.

4-Organize a ‘clean street’ initiative

To finally meet your neighbors, you can organize a very popular event in the Anglo-Saxon countries: the “clean street” operation. Ecology is a unifying theme, especially when it touches the environment and your small town. Your neighbors will surely be open to the idea of spending a morning together to rid the street of its polluting and unattractive waste.

5-Offer small services to your neighbors

Have you noticed that your neighbor is coming home late and cannot take out their trash some nights of the week? Take it out for them that day. Did he complain about his broken mower? Lend him yours.

6-United by a common cause

One day, you may learn that a family in your building or neighborhood is in trouble. This is a perfect opportunity to get closer to your neighbors. Start a donation box, or maybe just a card with everyones thoughts and condolences. This will definitely grow your relationship.

7-Fence Friends

You never meet your neighbor, which can be a fault of this accursed modern lifestyle being generally crazy. Yet you already have one thing in common: your fence. While everyone enjoys their yard, this is the perfect time to start a conversation over the fence. Don’t know where to start? Ask them if it bothers them that you cut the common hedges.

8-Some pets in common

One of the best times to initiate conversation is dog walking dog owners would tell you. Often solitary, these relaxed moments allow for starting a discussion with the neighbor who also walks his animal. The best part? You already have one thing in common: your dog. Keep an eye on the schedule of the neighbor you wish to approach, but not in a creepy way.

9-My building on Facebook

If you have a digital soul, you can create an online page for your building or neighborhood on social media. Each neighbor will be able to come and chat there to get to know each other better or to simply share ideas or events from the neighborhood.

10-Leave a note on their door

When all else fails (or when the past few of tips have not gotten you beyond the small talk) it is possible to leave your neighbors a note. This works particularly well if you’re throwing a party anytime soon: Leave them a note letting them know you are having people over and want them to pass by. They may come, or else they may just knock on your door to say hello if they will not be able to attend. A post-it note can be really powerful.

11- Or just…

Ring the doorbell! Present yourself with a smile. Whoever said that the simplest things work best is a very wise man!

My First Post!

Hello, and I would like to welcome you all to the first post on my brand new website. I started this blog to share my experiences with my first “small town”. A native of Ontario Canada, I moved to Edmonton a few years ago and decided I just didn’t want to live in the big city anymore! I spent the better part of 6 months searching for a small town in Alberta that I could really settle in with. Well, here I am, in beautiful St Paul Alberta!

I hope to highlight some of the best events and experiences I have seen here so I can really bring out the spirit of the town itself! That being said, I hope to blog about my own personal experiences in town as well, because to those who know me, they know I am a talker! I really hope you become a long time reader of this blog, and I am going to do my best to post as often as I can, whether it be about what happened in town last weekend, to talking to someone looking to invest in a property in town! I work in the financial sector, so feel free to message me where it be about a rrsp contribution or how to bake the best vanilla cookies you’ve ever had!

My name is Tiffany, and if you have any questions feel free to head over to my contact page or the contact widget in the sidebar and I will do my best to respond as quick as possible!