Beginner looking to BRRRR in Canada

[Ethan Gallant]

Hello everyone, I am a Canadian from the East coast and am looking for everyone's thoughts. I am a 24 year old who's employed in the CAF and looking to getting into real estate, more specifically BRRRR.

After looking online for quite some time I've noticed how high Canadian real estate is and I wonder if it is even worth getting into. Are there any Canadians who have started out recently despite these crazy prices? Is it lucrative enough in Canada or are we doomed?

It feels very difficult to raise enough capital to get into the market. I currently have around 100k tied up in sticks right now which I would prefer to leave in and just continue to save with the plan of getting a place in the next few years, I would get a second job to raise the funds. I've looked into mobile/manufactured homes as an option but with lot rent it seems like it may not be worth it. Not to mention how these properties don't appreciate the same as a regular home. 

what are your thoughts? 

[Ryan Napman]

Hi @Ethan Gallant, I am new to real estate investing and purchased a SFH in Ontario last year for $400K. I was able to rent the property by room and it cash flows about $200/month so far. It's definitely challenging but there are lots of people doing it in Canada. I think it's just a matter of being a bit creative and finding opportunities to add value to a property. I think it's tough to find a good BRRRR deal on market. You may be better off trying to connect with some agents or other investors/wholesalers in your area and try and get off-market leads sent to you. Once you find a good property and all the numbers make sense - pull the trigger. Good luck to you!