Toronto , Ontario · Member since 2016 · 19 posts · 8 votes
Hi everyone,
I just wanted to make a post and attempt to reach out to real estate investors in the Toronto, Canada area (or surrounding). My girlfriend and I are just starting out looking for our first investment and would love to connect and network with others to hear their experience(s). In addition we are also looking for a mentor in the buy and hold/fix and flip realm to gain real world education about our current strategy. We come from a background with a whole host of skill sets and would like to build a relationship with other investors.
Investor · Stouffville, Ontario · Member since 2011 · 213 posts · 65 votes
10y
Hi @Angelo Vella Welcome to BP. I live in Newmarket and own a number of Investment properties around the GTA.
Although for the past few months I have been lying low on BP I host a monthly Meetup group that is all about networking with other Real Estate Investors. The next one is Jan 21st. You can me PM for the details. One of the topics will be about "Buying Properties in a Corporation".
I just wanted to make a post and attempt to reach out to real estate investors in the Toronto, Canada area (or surrounding). My girlfriend and I are just starting out looking for our first investment and would love to connect and network with others to hear their experience(s). In addition we are also looking for a mentor in the buy and hold/fix and flip realm to gain real world education about our current strategy. We come from a background with a whole host of skill sets and would like to build a relationship with other investors.
Looking forward to speaking you.
Angelo & Sylvana
Gary's got the right advice look for masterminds and meetups. go to meetup.com and find some local REI meetings in your area,I also hold some here In Kitchener for MF investors. With regards to mentors don't pay anyone to show you the ropes, if you are interested in some good book recommendations let me know I got a couple Canadian based one.
Rental Property Investor · Oakville/ Brantford, Ontario · Member since 2015 · 147 posts · 91 votes
10y
Hi Angelo, welcome! I am fairly new myself I started in October 2013 and have 3 buy and hold rentals. My target is at least one or two per year. What area are you looking into for your first investment?
Thanks Samuel! I agree with yourself and Gary. We'll be making it a point to be active at local REI meetings to connect with others. If you have any great recommendations with respect to Canadian based books please feel free to let me know.
Hi Sarah, thanks for the response! Great to connect with you. We are currently exploring which market would work best for us. The Toronto/York Region market is a little too pricey for our first investment. So we we exploring out east (Pickering/Ajax, Oshawa, Whitby) and west (Brampton, Mississauga, Hamilton).
Much like you we are hoping to target at least one a year. Given we are just starting out we are also looking to learn more about creative financing/funding in order to reach that goal of one a year.
Do you recommend any particular market for first time investors?
Rental Property Investor · Oakville/ Brantford, Ontario · Member since 2015 · 147 posts · 91 votes
10y
I am personally a big fan of Brantford as you can find homes under 200k that will rent out for $1400 give or take. There is a high demand for 3-4 bedroom homes.
Hamilton is good too. As for other markets I have not done enough due diligence on them to speak intelligently about them.
Thanks Sarah! that's great info. We'll definitely be looking in the Brantford area. The price of the home and what you can potentially rent it out for certainly meets our target.
I am personally a big fan of Brantford as you can find homes under 200k that will rent out for $1400 give or take. There is a high demand for 3-4 bedroom homes.
Hamilton is good too. As for other markets I have not done enough due diligence on them to speak intelligently about them.
Brantfords not a bad area for cash flow but the appreciation is sub-par and its a tough tenant base. But I keep an eye on it because it's so close to my market and notice some duplexes going for about 140-240 renting for around 1200-2000 depending.
Real Estate Investor · Whitchurch Stouffville, Ontario · Member since 2015 · 8 posts · 3 votes
10y
Angelo and Sylvana, welcome to the wonderful community of real estate investors. I'm based in Toronto as well. My husband and I left the rat race several years ago to become full-time real estate investors. Having a mentor really helped. I think you're on the right track. Meetups are a great place to learn about creative financing options and connect with experienced investors. Gary's a great guy and runs a terrific meetup group, I host a monthly meetup as well. One of Canada's well-known real estate investors recently published a list of Canada's Best Real Estate Clubs. Feel free to PM me and I can send you the details.
I am personally a big fan of Brantford as you can find homes under 200k that will rent out for $1400 give or take. There is a high demand for 3-4 bedroom homes.
Hamilton is good too. As for other markets I have not done enough due diligence on them to speak intelligently about them.
Brantfords not a bad area for cash flow but the appreciation is sub-par and its a tough tenant base. But I keep an eye on it because it's so close to my market and notice some duplexes going for about 140-240 renting for around 1200-2000 depending.
Yeah I guess we have been lucky then we have had great renters on our 3 properties. Appreciation is starting to get better: the house we bought last year for 177 was appraised 9 months later for 200 and the one we bought in October for 129 was just appraised at 150. Not great but not bad either.
I am personally a big fan of Brantford as you can find homes under 200k that will rent out for $1400 give or take. There is a high demand for 3-4 bedroom homes.
Hamilton is good too. As for other markets I have not done enough due diligence on them to speak intelligently about them.
Brantfords not a bad area for cash flow but the appreciation is sub-par and its a tough tenant base. But I keep an eye on it because it's so close to my market and notice some duplexes going for about 140-240 renting for around 1200-2000 depending.
Yeah I guess we have been lucky then we have had great renters on our 3 properties. Appreciation is starting to get better: the house we bought last year for 177 was appraised 9 months later for 200 and the one we bought in October for 129 was just appraised at 150. Not great but not bad either.
Those are a good numbers, which areas do you focus on? I know some people from the area through school, always heard some stories, but I imagine like any market it has great pockets for the experienced investors.
Thank you Rachel! Leaving the rat race ourselves is one of our long-term goals. We will definitely PM you regrading group details. Looking forward to attending our first Meetup!