Advertising Sites for Ottawa Rentals

Advertising for Ottawa Real Estate Rentals can be done through several sites:

FREE

Kijiji - www.kijiji.ca
Craigslist - www.craigslist.org
Ottawa Rentals - www.ottawa-rentals.com
Home Trader - www.homeTRADER.ca

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The Hill Times - www.thehilltimes.ca (Thanks for the suggestion Christiane!)
The Ottawa Citizen - www.ottawacitizen.com

Ottawa Meeting Reminder for Passive Real Estate Income

Join our discussion on making passive real estate income tomorrow, Sunday, October 18, 2009 from 3-4pm! If you are new to this group or wish to join, please email me and I'll give you the coordinates of the meeting. Asokan Thurairajah, Realtor with Keller Williams Ottawa Realty will be our special speaker. See you there!

Real Estate Residual Income

Real estate residual income was the first kind of residual income that I wanted to really focus on personally. I've looked into it in the past very seriously, and honestly, I had been stuck at the stage of analysis - AKA "analysis paralysis". Asokan and I decided once and for all, to simply start putting in more offers. After several weeks of putting in offers and learning a whole lot in the process, we finally bought our first duplex. By first analyzing the numbers, we discovered that the property generated residual income or "positive cash flow" if rented at current market rents. We then put in an offer, which was negotiated and eventually accepted. After the offer was accepted, we inspected the property and got the official go ahead from our mortgage broker.

When I'm talking about creating residual income through real estate, I'm talking about buying real estate that has a positive cash flow. The rent that is paid to you by your tenants will pay you in two ways: 1) The reduction of principal on your mortgage, 2) Cash flow (the money that's left over after paying all of your expenses). You also can make money through the appreciation of your real estate. The main thing though is to ensure that the property generates positive cash flow...

To find out how to figure out if real estate will provide you with residual income or not, check out Don Campbell's book "Real Estate Investing in Canada" and his website which are devoted to creating real estate residual income.