where and how should I invest in Ontario

[Joseph Jin]

My fiance and I are looking into first investment in Ontario.

I work in Etobicoke, so I am trying to find our first investment property not too far from work - preferably within 100-150km.

Here is the breakdown of what we can afford:

Current posesed cash: 200k

pre-approved mortgage: 600k

I am currently thinking of duplex conversion in Hamilton, so I can BRRRR. However, I am not confident if Hamilton might be the most optimal market for us. I know I can cash flow with $100-200 possitive after refinance, but not too sure if the hamilton makret would continue to appreciate as other markets.

If you were in my shoes, how and where would you invest with the capital I have?

Because this is my first investment property, I think it is right to focus on appreciation of the property instead of cash flow. - I have no doubt on meeting the minimum cash flow (positive).

Also, we would like to build our real estate investment portfolio. Hopefully more than 10 properties within 10 yrs.

Your feedback is much appreciated!