Differences of REI in Canada vs US

[Ross Seager]

Hi everyone, I'm new to the real estate game and looking for some insight on what the challenges are to investing in an income property in Canada compared to the US. The cost of housing is astronomically higher here so wondering if investing strategies have to modified in order to make the numbers work here.

[Brody Muxlow]

A lot of investors I know in Canada including myself use what bigger pockets calls the BRRRR method which is "Buy, Renovate, Rent, Refinance, Repeat.

However for myself, ive found that it only works on propertys that are cheap and under performing. The "turn key" properties that you may see listed on the MLS or other real estate sites do not work in my opinion. From what i see, someone has already done the BRRRR method to them. There would be no room for you to renovate and refinance.

I try and stick to the 1% rule when im looking at properties. I want one months rent to equal 1% of the purchase price. If it meets that requirement, I look further into the property and crunch the numbers. Right now in Windsor ON where I invest, it is difficult to find properties that meet that standard. It a sellers market here right now. All the under performing properties that owners have had for 20 or 30 years are producing little rent but selling high. Ive recently picked up a triplex but it was a private sale and it wasnt listed. My agent is always looking for these deals for me.