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Is a rental property the best way to make extra income?

Q: Our questions is: We are both seniors. We have just bought a condo in Ambleside, West Vancouver for $460,000.00. We now have $275,000.00 in cash. We live on our Old Age and Canada Pensions. We have no other income. Our question is: We are thinking of buying a rental property perhaps in Maple Ridge or Chilliwack. The rental income would cover our maintenance fees, as well as provide us with some extra income. Would you say this is the best way to create extra income?

A: No need to rush. Markets likely will slow. Go to my website at Jurock.com for latest forecasts. Make sure you evaluate purchase thoroughly. Get a solid realtor.

About Ozzie Jurock

OZZIE JUROCK (FRI) is the author of Forget About Location, Location, Location. Ozzie Jurock is also president of Jurock Publishing Ltd. Peter C. Newman in his book Titans called him a Real Estate Guru. Vancouver Magazine called him one of the 45 brightest people in Vancouver. Ozzie Jurock appears every 2nd Wednesday on Global TV News Hour. He also authored the book: Forget About Location, Location, Location and has written hundreds of published real estate articles in the Vancouver Sun, Business in Vancouver, the Globe and Mail, the Western Investor and dozens of magazines. (List of published articles.) Several thousand people have subscribed to his monthly and weekly newsletters Jurock Real Estate Insider and Jurock's Facts by Email.

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