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Updated almost 7 years ago on . Most recent reply
London and Kitchener, Canada market saturated from investors?
Hi all,
Greetings from Toronto, Canada. I am new to the BiggerPockets forum and I think I am already addicted to this web place (specially to the podcasts). I started researching for the possibility of investing on my first rental property in the Kitchener and London Ontario, Canada area. But, while I've been researching, I find that there is the possibility that these markets could be already overflowed and saturated with investors renting houses or rooms in these markets.
The following article talks about the saturated inventory of rental units for students in the Waterloo area. This article makes me think that investors seeking opportunities in the rental markets of London or Kitchener are late to the party.
https://www.therecord.com/news-story/7102082-renta...
I am thinking more of entering into the single family or duplex housing as my first rental. But, now I am not too sure. If these markets are this saturated, I think that starting there is not a good idea.
I wanted to ask to any investor or realtor experienced on these areas if my thoughts have some fundamental truth?
Thanks in advance for the help. I highly appreciate it.
Tinto
Most Popular Reply
Thanks Kellan, here's the link:
https://www.biggerpockets.com/forums/521/topics/54...
Welcome to the fun, @Agustin Loreto !
The podcasts are great, I highly recommend started at episode #1. I find the older ones to be more relevant to basics of the art of real estate.
London is NOT overflowed with investors. You just need to stop looking at the typical MLS listings and typical realtors. There are a TINY minority of realtors that are worth talking to on this front. Come out to the meet-up tomorrow to find the right person.
News articles are a TERRIBLE place for valid information. Every article I read is about how we're crashing and there's no money in investing. All BS. Fear sells newspapers and gives people a reason to sit around and do nothing. Don't fall for it.
Prices are up 10% year over year in London and volume is DOWN 32%. There's no reason at all to think that prices will soon fall. However, it is tough to find the deals... but you've just met the right people.
See you at the meet-up tomorrow?
PM me and I'll add you to my monthly email blast about the meet-ups. I have a nice cashflowing single available for wholesale right now at 25k under market value (rent ready) and it can be converted to a duplex or more if that's your thing. The deals are out there.
Kellan, the 30-40 you're getting at FIRE, are they mostly real estate investors or is that a small part?