Looking for connections/info on Eastern Canada

[Daniel Puglia]

My wife and I were fortunate to have made some great returns on sale of a SFH in Ontario, looking to deploy the capital gained in the Eastern Canada market, specifically, Halifax, Moncton or St. John we've been looking into. I am a newbie in this forum and have listened to many podcast episodes but am hoping to move forward finding some 'boots on the ground', a good realtor to contact, if there is any other cities we should be looking at etc.? As we live in BC or Ontario we aren't sure yet if we will be moving out East or have a property management team take care of the place.

We are hoping to find one or two SFH to buy outright and rent to a family or young professionals. Not too comfortable with the idea of student housing. Our budget is $150-$200k each, we'd hope for turn-key in a better neighbourhood but are willing to put in some work/cash in upgrades/renos if needed for right place. Any insights, help or contacts would be greatly appreciated, this site is great but also information overload. As I said, we are novices and all help is welcome.

Cheers BP.

dan puglia

[Adam MacDonald]

Hi Daniel, 

I am also an investor in Halifax, and I run a Property maintenance and management company. Halifax is a great market if you can find the right property. Like Greg and Yuan have said, it’s a hot market, and last year was only our first year in double digit appreciation. If you compare us to other cities in Canada, I and many believe this is just the start to a large climb in Halifax real estate. 
 

I am curious why the interest in single family homes? I ask that, because that's a very tough market in Halifax right now, unless you are outside the city like Yuan said, however you can still find duplex's for under $400k, which could probably produce similar returns to two single family homes. I currently have on under contract for 400k that will produce a 12% CoC and 700-900$ a month in cash flow. Just a consideration! Hope this helps, and if you have any questions anytime feel free to reach out.