Does anyone invest in Northern Ontario (I.e. Timmins)

[Jakub Vidimlic]

Basically title. Seeing prices are ridiculously low up there and just wondering if anyone has any rentals up there, and if you do, how is the cash flow?

[Dijana Maderic]

Hi there, my partner and I are investors in Timmins.   We've been in this market for close to 10 years now.   It takes some getting used to because it is not the GTA (we also have properties here in the GTA).   Northern Ontario is a great way to diversify your portfolio.   We have some properties that have spiking property value increases and sustainable cash flow (GTA) and others (like in Timmins) have slow property value increases with very high cash flow.   

You don't invest in Timmins to buy and quickly sell.  You can flip, but that takes some good knowledge of the area. You buy and hold, improve slowly, get the right tenants in and enjoy the cash flow. 

The only red flag is Timmins' water/sewage yearly bill is unlike the GTA.  It's almost the same as you pay for the property taxes there.   It's pretty high.  However, get a high efficiency furnace, get tenants to pay the hydro and it's pretty good. 

Lastly, get good property managers.  I cannot stress this enough. 

Hope this helps!

Dijana.