Investor · Toronto, Ontario · Member since 2017 · 116 posts · 20 votes
As you Canadians know, Toronto's market is crazy right now, comparable to California and New York. With that being said I'm interested to know what other cities you guys are having success investing in. In terms of appreciating rental income and so on.
I note that Hamilton is crazy speculative as Toronto and kitchener is filled with the tech companies. What do you feel about Cambridge or Windsor? What about northern Ontario?
@Roy N., would you care to elaborate why you consider Halifax as an exception?
I live in Halifax, and I'm looking to get into REI via house-hacking at first (3/4plex).
Halifax has seen significant increase in real estate prices over the past several years. If you are looking for small multi-units in the downtown core of the city proper, many/most are priced at levels which do not provide an adequate return on your capital.
If you move a little further north and east of downtown, prices ease, but you still need to look quite hard.
We have found more value in other Maritime cities recently.
Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
9y
There are lots of places in this country to invest than the GTA or Southern Ontario. Anywhere on the east coast - with the possible exception of Halifax - comes to mind.
I would say Windsor ON because you can still find many properties which can cashflow, ROI 8 - 12%, Good Appreciation(just this year 6 10%), very low vacancy rate(currently I would 0%) and finally, currently windsor is one of the fast growing cities in Canada
Just to give you an Idea of number in Windsor
I purchased a duplex on march 1st 2017 for 102k, after renovation 125k
Current ARV 160k+
Total per month (unit 1: 1000 + & unit 2: 650+)
Cashflow: after all expenses 300 - 400$
ROI: 10%
Rented with in 3 days after posting a kijiji ad(ad viewers 600+, 30+ replies) which shows there's high demand for rental
I would say Windsor ON because you can still find many properties which can cashflow, ROI 8 - 12%, Good Appreciation(just this year 6 10%), very low vacancy rate(currently I would 0%) and finally, currently windsor is one of the fast growing cities in Canada
Just to give you an Idea of number in Windsor
I purchased a duplex on march 1st 2017 for 102k, after renovation 125k
Current ARV 160k+
Total per month (unit 1: 1000 + & unit 2: 650+)
Cashflow: after all expenses 300 - 400$
ROI: 10%
Rented with in 3 days after posting a kijiji ad(ad viewers 600+, 30+ replies) which shows there's high demand for rental
I definitely have my eye on Windsor! I'd love to pick you brain a little, I'll be PMing you!
Investor · Windsor, Nova Scotia · Member since 2015 · 128 posts · 34 votes
9y
@Roy N. - you're not letting the little 'ol East Coast secret out are you!!?? @Neil Da Silva - Roy is right, there are deals to be had for those who are looking in markets where the appreciation may not be as high, but the cash flow is great!
I've never been to the east coast! or the West coast of Canada, I've only been to Ontario and Quebec. Seems like I should take a trip! "Fly for dollars" lol
Contractor · Toronto, Ontario · Member since 2017 · 26 posts · 3 votes
9y
Neil Da Silva
I am currently looking at Hamilton. Would love to hear your take on that market.
We are looking there because it is still commutable to the city and McMaster is there for when we want to get into student rentals.
Thanks
@Roy N., would you care to elaborate why you consider Halifax as an exception?
I live in Halifax, and I'm looking to get into REI via house-hacking at first (3/4plex).
Halifax has seen significant increase in real estate prices over the past several years. If you are looking for small multi-units in the downtown core of the city proper, many/most are priced at levels which do not provide an adequate return on your capital.
If you move a little further north and east of downtown, prices ease, but you still need to look quite hard.
We have found more value in other Maritime cities recently.
Toronto, Canada · Member since 2016 · 8 posts · 0 votes
9y
Hi as a new out of town investor and first timer in Windsor, I'd have to agree with the potential it has. The market is ripe for decent ROI if you have a plan with boots on the ground.
The problem I've been running into is trying to find good contractors.
If anyone can suggest a good one please pm me.
Investor · Markham , ON · Member since 2017 · 7 posts · 0 votes
9y
Just wondering if anyone can share tips on managing properties that are far from where you live. Also interested in other parts of Ontario...namely Windsor, but i cant wrap my head around how i would manage that. I suppose I could hire a PM company....but i am not trusting of most of them. How do people deal with this? And are they happy with their PM? How do I find one and vet them?
Realtor · Windsor, Ontario · Member since 2016 · 55 posts · 54 votes
9y
@Velle So I am an investor and Realtor here in Windsor, and I could recommend a couple of good property management companies to you! From my experience with my out-of-town investor clients, hiring a property management company is a good way to go. It is easy to loose sight of details otherwise. Let me know if you'd like some recommendations or to talk more about investing in Windsor... happy to talk! :)