Check out our agent’s and lawyer’s top ten RULES before you buy that investment property:

1. Don’t consider buying an investment property unless the monies needed for the down payment are considered to be illiquid, locked away, not available and invested for the long term… No matter how tempting that Givenchy bag looks.

2. The information provided by the vendor is like a Tinder profile. It’s info for information purposes and should not be relied upon without your independent verification.

3. Don’t even think about litigation after closing as the solution for shoddy due diligence prior to the purchase. Eyes wide open people.

4. Consider Chartered Banks firstly for mortgage financing followed only by the retaining of a Reputable Mortgage Broker if necessary. Not we repeat NOT the dude at the coffee bar with the Maserati.

5. Do not be seduced by attractive property represented by slick realtors. The first thing that matters is the bottom line. Looks fade but good character is forever.

6. Establish a rate of return required on the investment and don’t be led into temptation to compromise and go long.

7. Rely solely on your own numbers and establish a working financial statement prepared by an expert as the summary of all wisdom. See rule 5.

8. Be prepared to roll up your sleeves and put in some physical work. It’ll look good on you.

9. Consider requiring at least one unit vacant for personal use.

10. Retain legal counsel to review any offer to purchase prior to submission. Who gets hitched without a prenup? ReaLawState has you covered there.