By Grainne Burns
Rocky Mountain House. Brossard South. Doon. These place-names may mean little to investors now, but they have just been listed in the coveted Top 100 Neighbourhoods to invest. They — and the rest of the list — could help brokers steer their investor clients in the right direction and deepen their roles as advisors in a confusing market.
“Investors should seek local expertise to navigate the mortgage funding process. Familiarity with the real estate and mortgage financing markets is the key to a sound investment strategy in these markets,” says John Kelly, COO of Verico Financial Group.
“This is particularly true in towns with a smaller and less diverse economy, employment base, and rental market. A mortgage specialist with access to both national and local lenders as well as traditional and private financing sources is often essential to make the investment proceed, and make the investment perform,” Kelly adds.
Kelly was speaking at the launch of the Top 100 Neighbourhoods to Invest, a comprehensive guide that analyzes the top micro markets that are set to lead the country in growth.
Such exclusive data as evaluation data as media price, cash flow projections, local economic barometers, cap rate and vacancy rate are included in neighbourhood evaluation.
The guide was produced by Canadian Real Estate Wealth Magazine, with the support of RE/MAX andVerico Financial Services. “It is a massive undertaking and this year is no exception,” says Canadian Real Estate Wealth Editor Nila Sweeney. “But with so much change in the market, we felt that it was absolutely imperative we arm CREW readers with up-to-date neighbourhood-specific information.”
Details of the special guide, which is on newsstands today, will be presented live at the upcoming Canadian Real Estate Wealth Investor Forum Vancouver this weekend, October 5 and 6, at the Vancouver Convention Centre.