First time Investor in Ottawa - Need Advice

Hello,

First of all I must say this is an amazing site. I have been looking for such a site for long time. I don't know how come I didn't come across it. Anyways, thank you !!!

My 1st question is:
I am in a process of buying a town home as an investment property in Ottawa. The deal will finalize in 2 weeks' time. What I would like to know it, what should I do next to rent it out? Should I go through a broker/property management company?

I would appreciate your advice in this matter.

My second question is, is there any great mentor in Ottawa that can help me to become a good real estate investor.

Thank you once again!!

Merry Christmas and Happy Holidays!

SK

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Jan 03, 2013
RE: First Time Investor In Ottawa...
by: Tom Karadza

Hi SK!

Thanks for the feedback about the site, appreciate it!

We know it's not the prettiest thing but it get the job done :-)

Without knowing more about the property it's difficult to give specific advice but, as you suggest, you can definitely go through a property management company. Just try to find one that focuses on the type of property you're buying. For example, a company that focuses on multi-unit buildings **may** not be very good at managing single family homes or student rentals. So just go and meet with them and talk with them before signing anything to get comfortable with them.

You can always manage it yourself as well but it may not be practical with your work or weekly schedule. We could offer some tips around that with more detail about the property type.

We know of a great guy in the Ottawa area. Just email Kayla@RockStarBrokerage.com mentioning the Ottawa contact and she'll pass along his contact info.

Hope that helps and Happy New Year!!

Tom.

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