Does anyone hav any edperience with BRRR in Montreal?

Question

Hello everyone, I’m a bit new to BP forums, and did not manage to find specific discussions around BRRR in Montreal. I happen to have a pretty good system in place in Montreal which I have not used yet due to issues of long distance investing. I was wondering if anybody has tried BRRR in Montreal? The real estate prices seem lower than other major Canadian cities and it is a popular travel destination.

Philippe Laurin · Answer

Hi @Vahid Mostafavi,

There a a few people doing BRRR in Montreal, however most people who are active don't necessarily use that name as it is not widely used outside of BP. When you say you have a good system in place, do you mean that you have all the key people or do you mean something else?

Real estate prices in Montreal are lower than Vancouver or Toronto for sure, but prices vary widely depending on the area of the city (ex: Downtown vs Point-aux-Trembles), I would suggest getting familiar with 1 area first so that you can tell when you find a good deal. Most properties for sale on the MLS are not good deals if paying the asking price. Honestly, if you're in Texas there are probably easier markets around you, but there are deals to be found in any city.

Vahid Mostafavi · Answer

@Philippe Laurin thanks! That was helpful. I have a very good and reliable general contractor and property manager which I completely trust as an investor in Montreal, but I am searching for the right real estate agent.

I just moved to Houston from Canada, and am familiarizing myself with the market here. That’s why I have not invested in TX yet.