I am a carpenter working full time in Toronto I have set my goals high to become a successful real estate investor and am willing to put in all the work it takes to get there.

I have spent the last few years learning and planning it out and I would like to take action this year and buy my first property. My plan is to buy a duplex or triplex that I can cashflow through rentals and add value then ultimately refinance and buy more (brrrr method).

As of right now I am working through the process of deciding on which market I want to invest in. I've gone to a few meetups and it has swayed my decision around a bit. My price range is 300k so my hometown Toronto is out of the question. What I am looking at is.

1) Small town Ontario. Hamilton, Brantford, Sudbury, Welland or similar towns. I like the idea of investing in these parts best because while it is a commute I will still be able to visit the property when necessary. My biggest concern is how many people have told me the struggles investing in Ontario because of tenant-friendly laws. I've been warned that tenants can go months without paying rent and a situation like that would make it hard for me to keep up with payments.

2) New Brunswick. After going to afew REI meetups with a group I am in I have noticed a common trend that many investors love New Brunswick. Mostly because landlords have more power and freedom to raise rents and get rid of bad tenants much unlike Ontario. Some of these investors have bought these properties without even visiting them and claim it is going very well for them. I have been strongly encouraged to invest in here. The idea sounds great and I am considering it. I have never been and I don't know much else about NB but I am currently doing my research. Any investors in that market please reach out!

3) Alberta. Once again I have only heard good things about this market yet I don't know much about it myself. I will be doing my research but any advice will be greatly appreciated!

I am still new and learning and there is more research to be done on my part but any insight will be greatly impactful!

Toronto, Ontario

2 Votes