In a previous blog post, we outlined the benefits of investing in rental properties. Once you decide to take the plunge, there are many great opportunities to explore within the residential real estate market. So many, in fact, that we’ve asked Realtor® Keven Braet to tell us a bit more about the kinds of investments available.

 

Crescents-street2Many different options

Investing in residential rental properties can mean anything from renting out a space in your own home to purchasing multi-unit apartment buildings, buying a second single family dwelling for tenants or even renting out pads for people to put their trailers on. With so many ways to invest, Keven says, “there is likely an opportunity to realize extra income in the residential rental market that suits your personal situation and comfort level.”

 

Properties with the biggest returns

There are a lot of considerations to take into account when assessing the potential return on any investment, but Keven says,

“In general you will be able to realize a larger rental return on your investment if you are willing to take on an investment property in less desirable areas of the city. As with all investments, the higher reward will be directly related to the risk you are comfortable with.”

 

AlleywayRenovating rental investment properties

Many people have thought about buying an investment property with the intention of fixing it up before renting it out. They hope to get a bigger return on their investment by doing so.

“This is often the case but is not a rule of thumb to be relied upon. Properties are cheap for a reason. Most investors are not familiar with renovating and grossly underestimate the cost of a renovation while grossly overestimating their ability to do the work,” Keven explains.

Keven recommends being realistic about taking on a “project property.” If you have the skills and the time, doing some renovations can be a great way to add value to your rental property. If not, think about the potential cost of an unfinished project.

“If a project stalls and does not get finished, the dollars saved buying cheap will quickly evaporate.”

 

Investments with the least hassle

All rental investments involve some degree of work, and some properties are certainly more work than others, but there are options available for those who are looking for less involvement. As Keven explains, less hassle may suit a lot of investors, but it usually also means smaller returns.

“Turnkey investments in managed buildings with existing tenants are the least troublesome but often do not fully carry the cost of the investment. In these low risk investments you will be receiving a much lower reward. In most cases you will be relying on the property’s increase in market value over time to give you a return on your investment. This is because the rents received do not cover or barely cover the cost of carrying this type of property.”

 

Keven Braet

Keven Braet

For more information on investing in residential rental properties, give Keven Braet a call, or contact our other expert Realtors® at Team Powerhouse Realty.

Can McLeod

Pursuing a successful real estate career in beautiful Prince George has been an amazing opportunity for me. I pride myself on high standards, professionally and ethically, and I work hard to get my clients the results they are looking for. Home renovation projects are a passion of mine, and I enjoy discussing how buyers can adapt properties to suit their needs.

I like to tackle projects that are both creative and technical, and I’m often tinkering with Hot Rods and motorbikes. I also host a local radio show, which has been a great way to express myself. I look forward to the future and to working with you to achieve your real estate goals.

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Office: 250.563.1000
Mobile: 250.981.6774
Fax: 250.563.1005

Chris Lodge

Hi, my name is Chris Lodge and I am in my sixth year of selling Real Estate in Prince George and Fort St. James. I have always loved houses, whether it be fluffing, decorating, renovating, preparing them for sale or selling them I am in my element.

I am professional, knowledgeable and personable and I would love to help you sell your home or help you find one that suit’s you needs. I try very hard to offer my clients a stress-less, drama free Real Estate experience. I will do my best to meet and hopefully exceed your expectations of a Real Estate Professional.

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Crystal Brown

My name is Crystal Brown, REALTOR® at Team Powerhouse Realty. My career as a professional agent began in May 2015. Since then I have enjoyed many successes in helping people buy and sell homes.

I have lived in Prince George for nearly 20 years. During that time I have been actively involved in the community through my business and personal life, and have also taken on a variety of volunteer positions. I have built valuable networks and a deep understanding of the city and its people. I use that knowledge every day when advising residents and newcomers on their next move. Great relationships are the foundation of true success.

I continue to look ahead to the future of real estate with excitement and determination as I see many opportunities for growth in my business, as well as in my community.

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Office: 250.563.1000
Mobile: 250.981.4620
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Mark McVey

I am a long-term resident of Prince George and have been selling real estate here since 1997. I am CEO at Team Powerhouse Realty, a company I co-founded in 2007. I have a passion for helping people, and get great fulfillment out of negotiating the best terms for my loyal clientele.

I love sharing my real estate skills and knowledge with others, and am a Buffini & Company Certified Mentor. In addition to my busy work schedule, I am also actively involved in men's soccer, the Cinema CNC Film Festival and PG Roadrunners. I am also a RYT200 Certified Yoga Instructor.

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Brad Messum

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Brian Steinhauser

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Keven Braet

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Ashley Quickfall

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Kristine Newell

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Lindsey Kuemper

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Lori Cruddas

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Matt Steinbach

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Melanie Lupul

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Rick Kerbrat

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Rick Mayhew

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Robin Choi

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Tim Higham

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Don Kehler

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Harry Backlin

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Matt Vigue

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Steve Andersen

Like most realtors I began my real estate career doing residential sales, and since I live on a rural property I really enjoy doing the more complicated country property sales.

While I still enjoy helping buyers and sellers with their housing needs I have transitioned over to doing more commercial sales and leasing. I find this both interesting and challenging and feel my skills are well suited to dealing with complicated commercial/industrial/business real estate transactions.

I endeavour to provide exceptional professional service to my clients putting their needs first so they trust me, enjoy dealing with me and recommend me to their friends and acquaintances.

On a personal level I am married with two children, have lived in Prince George since childhood and have always been a real outdoorsman. Prince George has so much to offer, is a great place to raise children and I really enjoy taking the family on camping and fishing trips throughout the Prince George area and our beautiful province.

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Rolf Van Driesum

Rolf was born and raised in Prince George, BC. A previous career in construction and current involvement in the mining industry provide him with an unparalleled insight into market trends and commercial opportunities throughout the region.

Rolf is driven by a desire to provide leadership in a number of capacities, both locally and internationally. He is engaged in development opportunities in Thailand, Myanmar, and the Dominican Republic as well as in British Columbia. Rolf joined Team Powerhouse Realty in 2011, and has since become part of the management team.

Rolf is also a husband, father to four and grandfather to four. He is a member of the Westwood Church.

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Ashley Woods

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Sarah White

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Rebecca Worthington

I work by referral helping buyers, sellers and investors stay focused on their big picture goals while I focus on the details. Exceptional client care, current market expertise and strong negotiating tactics are paramount to my business. I specialize in family homes and investment properties.

My husband and I were both born and raised in Prince George and are now raising our beautiful four daughters here. This is a wonderful community to be a part of as it has so much to offer.

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