Why Now Is a Great Time to Purchase a Rental Property in Winnipeg

The COVID-19 pandemic has affected every industry across the world, and real estate is no exception. Believe it or not, now may be the best possible time to take the plunge and purchase a rental property in Winnipeg. Whether you’re just starting out in real estate investment or you’re fully experienced, this is the right time to capitalize on the stable prices and better mortgage rates. With the current pandemic, there is less competition when making offers on real estate, and prices are not inflated due to the fear and emotion caused by the coronavirus—it’s the perfect situation for a real estate investor.

Although improving, global stocks saw a 30 percent crash in March 2020—in contrast, Winnipeg real estate values have remained steady throughout the pandemic. When a property can retain its value even in the face of a global pandemic, that’s a good sign that it’s a smart investment.

Financing your rental property

If you don’t have money in the bank for a purchase just yet, that doesn’t rule out being a rental property owner. In fact, you can use the equity in your home to purchase a rental property—homeowners can use up to 80 percent of their home’s value (also known as equity) for the down payment on a rental property.

If that weren’t enough, interest rates continue to be at historic lows. When leveraging the equity in a home, many lenders offer a 30-year amortization on refinances which, when correctly utilized, can create vast real estate wealth—all using collateral you already own. Although most rental property purchases require a 20 percent down payment, if you have an immediate family member occupying the property along with a tenant, there is a 5 percent down payment option. For example, Genworth’s Family Plan with a 5 percent down payment (for the first $500,000) even allows you to purchase a rental duplex as long as an immediate family member occupies one of the units. This is ideal for families who want to get started investing in real estate, but who don’t want to have to put down a princely sum right away. Call me at 204-290-1473 to discuss more.

How to get started

If you’ve been dreaming about starting a real estate empire—or just learning the ropes with a rental property—this is the best time in decades for investing. By using the services of an experienced Realtor® and mortgage broker, you can grow your wealth in a smart and tangible way. Consult with your mortgage broker about your options and business plan, and learn more about what it takes to be a successful rental property owner.

Being a landlord isn’t for everyone, but many people find it rewarding and lucrative, especially when working with a property manager—they reduce potential owner stress by professionally managing the property, which can cost as little as $100 per month.

These interest rates and low competition won’t last forever—as we get closer to a vaccine for COVID-19, public confidence will rise and more people will be ready to purchase Winnipeg properties again. If you’re interested in investing in Winnipeg real estate, call me @ 204-290-1473 or Adrian Schulz, a mortgage broker @ 204-272-3763 right away.

If you would like a Free Home Value Appraisal in River Heights, Tuxedo, Fort Garry, Linden Ridge, St. Norbert, Bridgewater Forest, St. Boniface, St. Vital, River Park South, Windsor Park, Southdale, Island Lakes, Royalwood, Sage Creek, East Kildonan, North Kildonan, Eaglemere, Sun Valley, Kildonan Meadows, Transcona, Richmond West, South point, Waverly west, Whyte Ridge, West Kildonan, Riverbend, Garden City, St. James. please contact me by phone or text or email @ 204-290-1473 / 2901473@gmail.com. www.SharanTappia.ca

Just Listed - A Former Show Home - 54 Rowntree Ave

54 Rowntree Ave

$369,900

Showing starts now and offers as received. Former show home of GS Homes in Bridgewater Trails, over $50k upgrades, spacious and bright with 9 foot ceilings, built on piles for structural integrity & long term value, engineered floor system, triple pane windows, 11x21 attached single garage. Main floor offers 3 bedrooms including spacious master bedroom suite with large walk in closet, 3 piece ensuite with glass door shower, LED pot lights, quartz counter tops, premium laminated flooring through out and tiles in both washrooms. Maple kitchen, designer back splash, s/s farmer's sink, glass cabinets, comes with home automation system, designer window coverings, front landscaping, glass railing with s/s hand rail, alarm system, garage door opener, high efficiency furnace, 60 gallon hot water tank, central air. Builder offers 10 year warranty.

It really pays to know the average price of homes for sale in your neighbourhood,as well as that of homes that have sold, including both over-list and under-list sales. I track all Winnipeg neighbourhoods daily, which allows me to more accurately set list prices on the homes we sell, while also making intelligent offers. 

If you would like a Free Home Value Appraisal in River Heights, Tuxedo, Fort Garry, Linden Ridge, St. Norbert, Bridgewater Forest, St. Boniface, St. Vital, River Park South, Windsor Park, Southdale, Island Lakes, Royalwood, Sage Creek, East Kildonan, North Kildonan, Eaglemere, Sun Valley, Kildonan Meadows, Transcona, Richmond West, South point, Waverly west, Whyte Ridge, West Kildonan, Riverbend, Garden City, St. James. please contact me by phone or text or email @ 204-290-1473 / 2901473@gmail.com.

Free Automated Email Service - it allows you to track the MLS market in real time. Follow the values in any neighbourhood in Winnipeg. Find out what your neighbours house down the street sold for. Follow Winnipeg MLS listings in real time. Visit: Winnipeg Market.

Just Listed in South St. Vital - 1141 Two Mile Rd

1141 Two Mile Rd

$1,250,000

Impressive house, excellent fit for a big family or two families who likes to live together but do want their own space! Around 6000 square foot home on 14 acres just outside the perimeter! With a total of 8 bedrooms and 6.5 bathrooms. Unique property is like features a custom honey oak kitchen with granite counter tops, geothermal heating system, 2 sided brick fireplace shared between dining room and den style sunken living room, a full basement including a wet bar, a multipurpose rec room and access to the homes triple car garage! A gorgeous A frame sun room with relaxing loft retreat plus amazing cedar entertainment room with a custom 40 feet in-ground pool, sauna, hot tub, wet bar, two bedrooms and lounging area with kitchenette! The 5000 Square foot heated shop with two piece washroom & loads of room for your tools and toys! Huge concrete patio sitting area. A rare opportunity to find! No basement under new extension. Sq ft as per city assessment. Below replacement cost, call for private viewing.

  

It really pays to know the average price of homes for sale in your neighbourhood,as well as that of homes that have sold, including both over-list and under-list sales. I track all Winnipeg neighbourhoods daily, which allows me to more accurately set list prices on the homes we sell, while also making intelligent offers. 

If you would like a Free Home Value Appraisal in River Heights, Tuxedo, Fort Garry, Linden Ridge, St. Norbert, Bridgewater Forest, St. Boniface, St. Vital, River Park South, Windsor Park, Southdale, Island Lakes, Royalwood, Sage Creek, East Kildonan, North Kildonan, Eaglemere, Sun Valley, Kildonan Meadows, Transcona, Richmond West, South point, Waverly west, Whyte Ridge, West Kildonan, Riverbend, Garden City, St. James. please contact me by phone or text or email @ 204-290-1473 / 2901473@gmail.com.

Free Automated Email Service - it allows you to track the MLS market in real time. Follow the values in any neighbourhood in Winnipeg. Find out what your neighbours house down the street sold for. Follow Winnipeg MLS listings in real time. Visit: Winnipeg Market.

4 Bedrooms - Family Home - River Park South - 67 Kingsclear Drive

Beautifully decorated, two story, built by Ventura, "Highview 17" in River Park South. Main floor bedroom and full washroom is great for elderly parents or guests. Open concept living and dining room featuring 18 foot ceiling & abundance of natural light. Stunning great room with gas fireplace, dinette & gorgeous granite kitchen featuring stainless steel appliances & garden door access to the huge 21x19 foot deck overlooking the landscaped backyard. Second floor comes with spacious master bedroom, large walk-in closet & 3 piece ensuite, two more bedrooms and loft for the kids. Many extras and impressive features in this home. Built on piles for structural integrity, energy efficient features throughout, custom blinds. Untouched basement awaiting your personal touches, has 9 foot ceiling. Garage is insulated. More than $60,000 in extras since purchased. Call me today for more information or viewing. It really pays to know the average price of homes for sale in your neighbourhood, as well as that of homes that have sold, including both over-list and under-list sales. I track all Winnipeg neighbourhoods daily, which allows me to more accurately set list prices on the homes we sell, while also making intelligent offers. If you would like a Free Home Value Appraisal in River Heights, Tuxedo, Fort Garry, Linden Ridge, St. Norbert, Bridgewater Forest, St. Boniface, St. Vital, River Park South, Windsor Park, Southdale, Island Lakes, Royalwood, Sage Creek, East Kildonan, North Kildonan, Eaglemere, Sun Valley, Kildonan Meadows, Transcona, Richmond West, South point, Waverly west, Whyte Ridge, West Kildonan, Riverbend, Garden City, St. James. please contact me by phone or text or email @ 204-290-1473 / 2901473@gmail.com. Free Automated Email Service - it allows you to track the MLS market in real time. Follow the values in any neighbourhood in Winnipeg. Find out what your neighbours house down the street sold for. Follow Winnipeg MLS listings in real time. Visit: Winnipeg Market.