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Updated about 8 years ago, 09/14/2016
Canadian living in London, UK
My husband and I own a fourplex in Thunder Bay, ON, Canada, a duplex in Kitchener, ON and a vacant piece of land that we wish to build a duplex in the next year - this also located in Thunder Bay.
We currently have moved to London, UK for a new start and our real estate investing took a bit of a back burner. We have used the equity of the fourplex twice to complete major renovations and to help us purchase our duplex.
We are not too sure if we should invest in a property here in London or focus more on properties in Canada. We are trying to get more accustomed to how things are run here in the UK, as real estate agents are not regulated and it can be sort of a hassle to buy property from what we can see. And expensive . . . We know that the Kitchener/Waterloo area is hot right now in Ontario, as there is a light rail system going on and it is close to Toronto. We may be looking there to send our money. Our goal is to use our real estate investments as a retirement fund and hopefully to help fund us to start working part time.
I found Bigger Pockets through the Clay Morris' Facebook page as I have just begun to listen to his podcasts.
If anyone has any information to help a couple Canadian's who are looking to really start our real estate empire, that would be greatly appreciated.
Cheers!
Robin
Hello Robin
I am a Real Estate investor in Kitchener - and Not Waterloo, Ontario - simply because of the Rental Bylaw that they have now for Waterloo.
I am also a Real Estate Agent and I come across opportunities for investment often. Some I have taken yet I cannot buy them all.
I would be happy to help you here in Kitchener/Cambridge/Guelph.
You can see more of my info at callcleeves.com
Best Wishes in the UK - that is my heritage as well - Mother born there - and wife born there! And my Father's grandfather was born there.
Welcome!
TB is a beautiful area - not the hotbed of inflating real estate prices you would see in Kitchener-Waterloo, but you should be able to find steady cash-flow there. Things here in the Maritimes would be closer to the temperament of Thunder Bay.
There are quite a few Canadians on BP who can certainly assist you with questions about real estate here at home.
Thanks Roy! Yes, we will most likely stay far away from Waterloo as possible as you say, with all the regulations they have put in to place due to the students. I think I recognize your team as I was a Condominium Property Manager from Sanderson Management in Kitchener and we dealt with a lot of real estate agents . . . usually not in a positive light :)
We do not have a real estate agent that we trust yet from Kitchener, so I may be contacting you in the near future, as we begin to figure out where we want our next investment to me.
Same with my husband - we are here on an ancestral visa due to his grandparents!
Cheers!
Hi Roy N!
We actually did quite well in Thunder Bay. As 6-7 years ago, my husband bought the 4-plex for only $150,000! And there was such a shortage in rentals, that you could honestly name your price. Three years ago, the housing market went up and the 4-plex has doubled in price, which is why we could draw equity out of it twice. However, it seems more people jumped at the rental game and rent prices have come down a bit.
I'm excited to see how this website will assist us. A lot of information!
Still need to make it out to Maritimes . . .
Cheers!
Cool - My son Jagger Cleeves - wants to get his British Passport so that he can do music in England.
What are the chances that he would be a musical child after being named Jagger!!! And yes named after Mick Jagger - my wife is a huge fan! LOL.
And It would be my pleasure and that of my team to be of service in any way - even if just answering questions for you.
Cheers
Roy
Roy on another note my son in law is involved in the music business in the UK if you want a connection for your so let me know...
robin ..investment wise if you are out of the contry why not consider investing in theUS ohio especaill wher there are great returns
Originally posted by @Robin Nicholson:
we will most likely stay far away from Waterloo as possible as you say, with all the regulations they have put in to place due to the students.
Just wanted to make sure you're aware, the regulations only apply to "logging houses". These are homes which are basically non-conforming multiplexes. I own one, and while it's a pain to maintain, it also add value to the property as the city does not readily issue these licenses anymore.
The conforming four plex I have doesn't have any of the license regulations apply to it. :)
Cleeves - haha that's great to hear. He should definitely at least take the chance of coming over and seeing how things play out. There is always a lot of singers playing on the streets all throughout London!
Linda - have been thinking about the idea of purchasing in the US, but need to look further into it. I have heard that there is more red tape to foreign investors due to the housing collapse . . . is that the case? I have also heard the mid-west is good for investments. I will have to take a look at Ohio as you suggest. Is Realtor.com the best place to look for properties?
Ming - yes good to know! I still like the Kitchener/Cambridge area best! :)
Cheers!