Toronto Investors - Where would you look?

[Alex Burrows]

Hey BP users, especially those from Hog Town - Toronto! 

I am currently in the market for a property.  I have looked at several different options.  I've looked at duplex's across the GTA but also single family dwellings with an "in-law-suite" or separate entrance for the basement apartment.  (1 or 2 bedroom basement apt).  I've focused my search to parts of Etobicoke, Scarborough, East York/ Leslieville and Danforth area.  I would prefer detached as opposed to semi.  Are these good area to look in if my price point is 500-600 k?  My plan is to get out of my condo downtown, buy one of these 2 or 3 unit properties and live in the basement, renting the upstairs out.  In a few years, move out and throw a tenant downstairs, etc.  I would love to hear what some seasoned investors have to say about this scenario. 

Cheers, 

Alex