ILNRE: Lisa Punch Gets You Investing in Multi-Family Properties in the Niagara Region

July 4, 2016 | Posted by: The Mortgage Guy Niagara

 

Steve Dainard speaks with Lisa Punch about multi-family investment properties. Lisa specializes in multi-family real estate in the Niagara region.

Lisa started her real estate career in June 2010 Royal LePage Niagara. She focuses on both residential and multi-family properties and has insight into general contracting. She gives back to her community - she's a proud supporter of Bethlehem Housing and raised $2200 for Education Foundation of Niagara. Providing DSBN students all over Niagara with funds and resources where government funding is not available.

Starting out as a realtor?

  • have a financial cushion; you don't know when the next commission is coming
  • advice from her mentor: if you can go to bed at night knowing that you protected your client, you'll do well as a realtor

Investing in multi-family

  • any investment is good
  • single-family residential vs. multi-family: it's about the numbers, and not emotion
  • get into the realtor circles to get the inside scoop
  • multi-family properties usually don't hit MLS, unless it's been passed over in the realtor circles for one reason or another
  • St. Catharines north end
  • Niagara Falls - central north area
  • Fort Erie - not a lot of apartment buildings
  • Toronto investors aren't currently into the multi-family market because they're focused on single-family properties

Are you thinking of investing in a multi-family property?

  • start small - a duplex or triplex
  • consider how much a property management service costs - usually new investors manage the property themselves
  • investing isn't for everyone: headaches, tenants, bad location, repairs eating up your equity
  • environmental clauses and building inspections

Armchair Quarterback: how to get into in multi-family investments?

  • consider location
  • do a drive-by of the property: check the state of the neighbourhood, check the shopping cart to car ratio

Contact Lisa Punch

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