Ottawa, Ontario, Canada

[Mark Polan]

So I’m new to Bigger Pockets and I do not have any rentals at the moment. Currently reading and researching and preparing myself. I own my home and live in a very expensive city. I paid $200,000 (with a 2.49% interest rate ) for a townhouse with no garage and parking lot style parking. I pay $400 a month in condo fees as an example.

To find any type of single family homes that you would even come close to buying cash, you are driving a good hour easily out of town and will barely find anything under $120,000. In the city, single family/duplex’s, etc are going for $350,000+ easily. So traveling for my first purchase is a must but also not ideal since I would like to know the area I’m investing in.

I understand you need to have professionals help you to find the deals, but until I’m ready to pull the trigger I am not ready to ask Agents to start looking for me. Rents don’t come anywhere close to the 1% unfortunately. For example, I wouldn’t be able to rent my house out for more then $1,600-$1,650 at the moment.

Main question is, is there anyone here that is family with the Ottawa,Toronto/Montreal surrounding area that have had to deal with more expensive housing to start off? And if so, how did you go about it?

Thanks,

[Paul H.]

Gatineau, and oulying towns.  Renfrew, Arnprior, Smithfalls, cornwall, Limoges, Casselman, Alexandria and Hawkesbury arr all great places to start and each area has pros and cons.

Also the Ottawa OREIO group is a good spot for newbies and seasoned investors. 

Identify an area that works for you, and build your relationships with people you need to succeed.  Then start running your calcs and go to showings as soon as they go to market.  

Cheers