Anyone from Halifax NS?

[Jasmine May]

Hello everyone, I'm new to BiggerPockets. New to investing in Canada too!  We are moving to Halifax NS next year. We had a small portfolio here in the UK, its all now sold and I have about CAD 500k to invest. 

Anyone from Halifax NS here? 

[Paul Chehade]

Hi Jasmine.

I am located in Halifax NS. I currently have a few multiunit properties that are on the peninsula. 

I would say Halifax is still a great market to invest compared to the rest of Canada.However, real estate market is hot which does not exactly help buyers but there are still some deals out there depending what you are looking for.

As you mentioned a 500k investment you need to consider a downpayment of 20-25%. We have a small 6 unit (6x 1 bedroom) property which we purchased over 10 years ago at 85k/door @cap rate of 5%

And closer to downtown we have another larger 6 unit (3x1 BDRM + 3x2 bdrom) we purchased for 190k/door.  @cap rate of 5.25%.  Mind you this is in a hotter area as it sits on a university campus.

Keeping in mind properties will eventually require renovations (to put aside for capital improvements)

Out of peninsula property costs will decrease but availability of multiunit is less (again depending on what you are looking for). 

Single home 300k -500k 

Duplex or triplex (400-600)

multiplex 4+ units (starting at 600k)

Or in higher end (for reference) a 35 unit going for 6 million (which still needed many upgrades)

In any case check out www.viewpoint.ca for pricing and details (I have no affiliation with this website, they just did a remarkable job with it)

hope that helps!

P