David Blain, CFA and CEO of BlueSky Wealth Advisors has been involved with real estate investments for over 25 years.
Traditionally late springtime signals the start of one of the busiest times of the year for buying and selling homes. This phenomenon traces its roots to many factors including the school year calendar and simply the difficulty of trudging through the cold and snow to look at homes in the winter. In Quebec, Moving Day is a tradition that originally mandated all leases begin and end on the same day.
Since 1973 that date has been July 1. Whatever the reason, BlueSky clients are no exception and the spring and summer months are very busy with real estate transactions. In fact, in the month of May, our advisors helped clients purchase and sell real estate valued at about $20 million dollars. Year in and year out, we actively take part in assisting clients who are buying or selling real estate. And it's not just primary residences that we assist clients with obtaining.
I started investing in residential rental properties 25 years ago and later added commercial and development properties. I’ve shared this practical experience with the advisory team to pass onto our clients. Today there are many ways to get involved in real estate that don't require driving all over town (or flying across the country) looking at properties. You don’t even have to sign your name on a second mortgage to reap the benefits of professional management and property selection.
There are a vast number of ways to get exposure; everything from private REITs to smaller limited partnerships. These types of investments offer the opportunity for higher returns (albeit not without some risk) than the traditional public stock and bond markets. As part of an overall diversified investment strategy, we find that including some real estate, beyond one’s home, can be a great addition to a portfolio.
In addition to advice on your primary home, which should be a part of every basic financial plan, BlueSky can provide plenty of advice on expanding your real estate holdings. If you’re not currently invested in real estate, you could be missing out on a great opportunity.