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Updated about 3 years ago on . Most recent reply
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First time investor in Canada, any advice helps!
I want to get started in real estate, however there are many different strategies, such as brrr, flipping, house hacking, etc, I’m definitely want to own a rental property since i think this method of investing is effective, however I’m not sure if i should brrr, i cant afford to buy a 1M$ house in Toronto with cash, however i do have around 50-80k cash, I feel that should be enough for a downpayment in city's like Ottawa, Gatineau, or London, I'm not sure though. What markets and rental property investment strategies have y’all seen or done has been most effective for first timers like myself??
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- Rental Property Investor
- Brandon, SD
- 1,031
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U.S.-centric answer here: With that kind of cash for a down payment, you should be able to get a nice property in most locations. Since you are looking to get started, house hacking is my recommendation. Find a 4-plex and buy it in your name. Live in one unit and rent the other three. You should be able to get a low down payment this way.