On the Eve of Greatness: How Real Estate Diversification Contributes to a Healthy Investment Portfolio
It’s that time of year again! A festive holiday season that finds many of us scurrying around looking for that perfect gift for our loved ones. Hanukkah, Winter Solstice, Kwanzaa, and Christmas are all celebrated this time of year. Let’s not forget Boxing day, for those who celebrate it. There’s one thread that ties all of these holidays together: gift giving! For Hanukkah, children are given gelt – these are chocolate coins which symbolize the ancient practice of giving money to children, teachers, and the poor during Hanukkah. Sometimes families choose to give small gifts as well, such as books, puzzles, etc. Those who celebrate the Winter Solstice may choose to exchange nature-related gifts, and on the seventh day of Kwanzaa, there is an exchange of Zawadi (gifts, sometimes handmade) to encourage growth, success, and achievement.
And of course, Christmas day is a celebration that involves giving gifts to friends and family. Boxing Day traditionally began with many people giving gifts or money to those in need.
Of course, if you are a seasoned real estate investor, you know that there are some surprises that are not as fun to wake up to on Christmas morning or any other day for that matter, and you can’t even wrap them in pretty paper. Think leaky faucets, roofs that have endured the brutality of many snowy winters. Some of these maintenance issues often first appear as innocuous nuances until they grow to become a much more costly problem.
This month, I want to highlight some maintenance concerns that you should never ignore. Not only will addressing them likely save you money in the long run. Your attentiveness will lead to happier tenants, and what gift is great than that?
Flush Away The Plumbing Issues
Pipes that don’t stop drip, drip, dripping well into the early hours of the morning are not just annoying. All that water can cause long-term damage to floors, ceilings, and walls. Not to mention, moisture promotes mold growth, which can cause life-altering allergies in many people.
Prevent disastrous water damage from the start by checking regularly for any leaks or faulty valves. If a tenant complains about that persistent dripping noise, don’t shrug that off either. These little costs are much less painful that the ones you are likely to incur if you let the water keep on flowing.
A Roof Over the Head
Healthy, clean pipes keep water running smoothly in and out of your properties, but how can you guard your prized investments from those ceaseless downpours and the impenetrable Canadian snow? A durable roof is certainly a great place to start. Just setting time aside to have broken shingles replaced can prevent nasty leaks later on down the road.
Be the Gift That’s Always Giving
December is a month marked by the giving of gifts. It’s also a wonderful time to prepare for an upcoming year. Why not give yourself and your tenants the gift of safe, comfortable, functional properties? Meticulous maintenance is the gift that keeps on giving, and you don’t even have to wait until Christmas to witness such a miracle!
QUOTE OF THE MONTH
A LAUGH OR TWO FOR GOOD MEASURE
HELPFUL LIFE HACK #1
HELPFUL LIFE HACK #2
WHY INVEST IN REAL ESTATE?
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We don’t think that’s a bad thing… And we think this is especially true when it comes
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much MORE control you have with real estate than virtually anything else out there.
About Dave Dubeau
Dave Dubeau is a real estate entrepreneur based in British Columbia. He has been actively involved in Canada-wide Columbia area real estate investing since 2003. Our mission is to provide quality housing for quality tenants, while at the same time providing an above-average return on investment (R.O.I) for our investor partners and ourselves. It is truly a win-win-win way of investing!
Dave offers his investor partners hands-free investment opportunities. If you are interested to learn how to earn an above-average return on your investment, backed by a solid asset, and without the hassle of being a landlord, please contact Dave.