As a licensed realtor, Peter Coppard is very familiar with the ins and outs of the real estate market. He holds the additional title of licensed property manager, a credential that requires that he maintain very specific knowledge about leasing.
He uses this acumen to help landlords vet their properties with the utmost efficiency and profit.
“I have extensive experience working with tenants and rental properties,” he says. “I’m very efficient in marketing rental properties, and I safeguard the owner’s asset by screening renters carefully.” The goal is to maximize potential revenue for the owner and to serve the renters well to increase the length of time that they remain in the rental properties.
Potential Landlord Pitfalls
Coppard guards his clients against potential pitfalls like fraud, missing information, and outright lies. He’s had people sublet rented properties to unscreened individuals, and others who simply refused to pay, forcing him to act as protector of the property.
“Even some high-end, educated prospects can be deceiving, and it only takes one bad person to create a property nightmare,” he says. “With that experience, your antenna is up to look for and avoid any of those situations.”
Coppard screens applicants carefully with tools like income verification, landlord references, and two personal references. His decade of experience allows his clients to take a hands-off approach when it comes to their rental properties.
Majority Priced Out of Market
Even with his vast knowledge of the market and how to make the rental game work smoothly, Coppard has been limited in his ability to invest in the real estate market.
“I’m looking to, but affordability is still my issue,” he says.
That’s the case for many potential investors in a city like Vancouver, where the housing market has continued to climb over recent years. The trend is a boon to property owners who see values rising, but it also means that many people have been priced out of the market entirely. The situation creates a line between those who can afford to purchase property, and those who can only dream of it.
Get a Foot in the Investing Door
Enter IMBY, a system that allows investors to get a foot in the investing door for as little as one dollar. Investors pool their resources to buy properties, sharing in both the benefits and the risk, allowing even those with small amounts of cash at their disposal to begin to build considerable wealth. It could be the key to turning the investing tide for many hopefuls.
“I think it’s a very interesting idea,” Coppard says.
He says he is familiar with a proposed development the principal officers of IMBY are working on now.
“It’s a great lot in a great location,” he says. “I think it’s a good investment and it permits people to invest with smaller amounts. Not everyone can go out and buy a $1.6 million home.”
Coppard says the IMBY system allows people to put in small amounts of money, see a return on their investment, and pick up valuable experience along the way.
“I think it’s an excellent training ground,” he says. “You can participate, and once you feel more comfortable, you can buy your own investment property.”