New member looking for some advice Canada

[Kevin Schmidt]

Hey guys, long time reader new poster. Looking to get into some LTR or STR. I'm in vancouver, Canada . Prices, interest are very high here so wondering if anyone has some advice. I have about 500k in equity from my primary residence and approved for 850k with a 297k HELOC. Almost every place I've ran numbers on is $300 and under cash flow (without maintenance, vacancy or property managers) and most the properties are 3+ hours drive away. What do experienced investors have for advice in Canada? Prices seem to be starting to come down a bit but interest rates going up is making the payments more as time goes on. Thanks

[Zorya Belanger]

I see many investors from Vancouver not investing in Vancouver. Even for your first property, it's not as hard as you might think to invest out of province. Buy where it makes sense, not where you live. You're looking at properties 3+ hours away and a flight to Edmonton for Calgary is 1.5 hrs for $100 return. When you do it strategically and have a good team, you don't have to visit very often at all, even when you're in the shopping phase.