Does anyone invest in Peterborough, Ontario

Question

I own 2 properties in Niagara but am looking to do a 3rd in Peterborough due to the 407 extension and IMO St Catharines near the school has bubbled high (both of my properties have comps selling for $50-60K more than I paid just 18 months and 2 years ago).

ANyone investing in Peterborough or Kawarthas, would love to hear from you

Michael Hopkins · Answer

Hi Kiril!  I'm also investing in Peterborough.  Have one duplex since 2018 and have been actively looking for the next property for past 3 months.  Like all markets right now, very competitive buying on market with multiple offers and everything over asking.  To be honest most areas are pretty good for rentals and vacancy rate is pretty low.  Downtown core, as with most cities the tenant profile will be a little more rough.  West end, North end are ideal in my opinion.  I expect things to be slow over Xmas time but hopefully more good listings come in the new year.  Always available to talk REI if your interested in a deeper discussion.  Have a great day and good luck!

Nuno Barbosa · Answer

Hey Kiril, Yeah, Michael hit the nail on the head. The market is crazy hot right now. Stick to the WestEnd near the hospital or north of Parkhill Rd, and you will be fine. The area east of the river is also worth a looks. It's more family-focused, so make sure if you're looking in the EastEnd go for the bigger driveways. Your tenants with apprciate it. BTW for anyone in Peterborough looking to BRRRR, we are now offering 80% LTV on rental refinances. DM for more information. I'm going to create a new post about it because this is a pretty big deal. Thanks, Guys

Kiril Nikolaev · Answer

@Nuno Barbosa Thanks for sharing on your experience in the Peterborough area. I am based in Durham as well and currently looking for BRRRR deals in Peterborough. Which areas would you recommend?

P.S. I'd be happy to connect to talk real estate if you're open to it. I've been investing in real estate for 4 years now.

Luc Boiron · Answer

@Justin H. I have a friend who is marketing in Peterborough for discounted properties to wholesale. Let me know if you would like me to put you in touch with him.

Matt Hawkins · Answer

@Luc Boiron, would you mind sending me the contact for your Peterborough wholesaler?

Kiril Nikolaev · Answer

@Luc Boiron are you able to connect me to the wholesaler you use in Peterborough?

Divyang Patel · Answer

Hi @luc , i am looking for real estate wholesaler to find a good deal in Peterborough.  Can you connect me with your wholesaler friend? Thanks

Nuno Barbosa · Answer

Hey Nicholas,

Peterborough is still a great market for a BRRRR. I don't see this changing anytime soon. Home prices are going up, but rental rates are going up with them. So it works out in the end. I haven't personally invested in Hamilton mainly because I'm based out of Durham Region, so Peterborough is closer. However, I have clients who purchased in Hamilton, and the numbers look very attractive in the right areas. Regarding Peterborough, I find the market is crazy hot for any listing under 400k. However, I don't think you need to stay at the price point. We paid 435k for our last one, and after all monthly expenses, we are looking at 1400 in monthly positive cash flow.

DM if you want to talk more.

Nicholas Gardner · Answer

Hi Nuno, I was wondering if there have been any changes to the markets in Peterborough since you've last replied. I am hoping to begin investing in Real Estate either in Peterborough or Hamilton (hoping to complete a BRRRR!). Just curious as to what you've seen over the last year or so in that area. How are rents? How are the market prices? Vacancy rates? etc.

Nuno Barbosa · Answer

That's Awesome. Yeah, the numbers definitely work in Peterborough. When I'm looking at deals, one of my goals is to have a positive cash flow of $1000 every month per house. Of course, other factors about the house matter like condition and location. But if I can get my 1k a month. It's worth a look. The nice thing about Peterborough is there are still tons of properties you can pick in the low to mid 400s and make that goal work.

Good luck with your search. Let me know how it goes.

Does anyone invest in Peterborough, Ontario

Most Popular Reply