Real Estate

Buying property advise

  • Last Updated:
  • Feb 5th, 2018 9:27 pm
[OP]
Jr. Member
Jun 30, 2008
121 posts
12 upvotes
Toronto

Buying property advise

I am planning to buy detached house in London, ON in range 350K-550K. I have plan to buy and then rent it out. I want to know where should i buy so that it could go easily on rent. How much rent is approx. for 3+1 bedroom OR 4 bedroom.
5 replies
Deal Guru
Feb 9, 2009
11257 posts
9748 upvotes
If your buying, why not get a RE agent? You dont pay for a buyer agent anyways.
Sr. Member
Aug 15, 2013
825 posts
410 upvotes
Guelph
Sanyo wrote: If your buying, why not get a RE agent? You dont pay for a buyer agent anyways.
Thats a classic dumb argument for the realtors. Beyond me how ppl still fall for that.
Deal Fanatic
Mar 27, 2004
5559 posts
3432 upvotes
Toronto
dundeal wrote: Thats a classic dumb argument for the realtors. Beyond me how ppl still fall for that.
You need someone to do the research and negotiate for you. You may not like the system that is in place but that is how it is.
This person can always ask for a cash back if they don't think the agents efforts are worth 2.5%
Full-time Realtor
Sr. Member
Aug 15, 2013
825 posts
410 upvotes
Guelph
oasis100 wrote: You need someone to do the research and negotiate for you. You may not like the system that is in place but that is how it is.
This person can always ask for a cash back if they don't think the agents efforts are worth 2.5%
Well the system almost makes you hire an agent, and knowing that the probability of finding a good realtor is close to hitting a single number in roulette, sure most rational consumers dont like it. And the research, negotiate etc you point out.. am sure you know agents who do no research, badly negotiate and provide wrong advice, at times intentionally.

Anyways, that was not the point i wanted to make. Sure, there are reasons to hire a realtor especially a good one, but to say that buyer is not paying so hire one coz its free.. well that's just mockery of common sense.
Newbie
Feb 5, 2018
2 posts
If you're out of town and have no clue about the local market then a RE agent might be helpful. That being said, don't go for anyone. You want to look for that agent that knows and understand investments. So in other words you have to qualify one to work for you and earn that commission.
Ideally the agent has his own rental properties (more than 2-3) and know where to recommend you to buy one as well. Based on the fact that he has and possibly maintains rentals he should know what to look for when viewing a property. Just my $0.02.

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