Promising areas/markets to start my real estate portfolio!

[Account Closed]

Hi everyone, my name is Max. I’m new to bigger pockets and I am an aspiring real estate investor. Now, I was wondering… given how tough the real estate market in Canada is these days, does anyone have any recommendations for specific markets/areas to look at when trying to start my portfolio? I know this is a bit of a general question, but any information/recommendations on some of the “best” areas/markets (where you can still get in quite cheap and the place has good growth potential) in Canada to start my investing journey would be much appreciated. And whether you have recommendations because of personal experience/success in those areas, or if it’s your own personal opinion, I’m all ears.

Lastly, I want to apologize in advance of this question bothers anyone. Yes, I know it’s general, might be hard to answer, and ultimately is a very beginner type of question, however I am a complete beginner in the real estate world, and everyone needs to start somewhere. So, any info on where to start looking for properties would be great… oh and also, would you recommend trying to buy a single or multi family home as my first property? Keeping in mind that I am hoping to hold it for the long term and have it be the first property in my portfolio!

[Najma Osman]

Hi @Account Closed, 

Congrats on starting to grow your portfolio out of the country! I think this is awesome, it forces you to really be an investor instead of landlord. When considering investing in other markets, look for markets with strong economic fundamentals, such as job growth, population growth, and low unemployment rates. This can help ensure that there is a demand for rental properties in the area.

It does not matter where you start as long as you develop your Core 4. The core 4 is David Greene’s long-distance investing strategy and consists of a realtor, contractor, property manager, and lender. Once you have this team in place, you should be able to invest in any market confidently.

When vetting homes that are out of country, it's important to work with a trusted agent who has experience in the local market. They can provide valuable insights about the property, its condition, and the local rental market.

If you're interested, please let me know how I can assist you further. My team and I in Columbus have a good infrastructure in place for out of state investors (i.e. connections to contractors, property management companies, lenders etc.) I would be delighted to discuss this topic with you in greater detail!