All Forum Posts by: Anna Korishch

I'm in Calgary, love to connect with you guys. I want to get a group together for Canadian investors to communicate and share knowledge. Started a subreddit the other day, let me know if you guys are interested in joining. Nothing in there yet, but I'm hoping to get it started.

Hey I have properties in Edmonton. Invest in the West End, South West or newer communities like Chapelle. Stay away from NE

Try to get a Single or duplex, not a big fan of townhomes or condos.

Cheers

@Anna Korishch I concur with @Brandon Lawson in going off-market to find MF deals. All my MF properties that are more than 5 units have been off-market deals. I also have a team of real estate professionals that help me scale my portfolio: realtors that are specialists in the market of my choice, commercial lender for MF 5-20 units, residential lenders, property managers, appraisers, etc. 

Ok, I was wondering about that - whether you were considering Edmonton due to having one already there, or not. I am finding that if you want a good investment property with 3-8 units, you have to build it. It helps that Edmonton is very infill friendly, and there are many greenfield options too. There are opportunities to find lots with one small old single-family house on it, and build a triplex or 4plex (and potentially add basement suites making it a 6plex or an 8plex) on the land. Or build 2 skinny houses, each with a basement suite and a garage/laneway suite. Or there are greenfield options (new community developments) where you can build 2-3 units on one lot. Many builders to choose from, and lots of construction happening here right now. I'm in the middle of looking at all of these options and trying to figure out which one to do next! We do have higher vacancy right now due to oversupply, but if you have a brand new place, you will find tenants. Once covid clears up, immigration will increase, and things will get better. It's already sounding like it's going to be a busy spring market. 

Hey! I am also starting my real estate journey and looking for a multi family to house hack in Q2. I have been looking to join a mastermind group but have not found one yet. If there is enough interest in this chain, I can work on setting up one for those who have 0-3 properties. Let me know in the comments below. Thanks! 

Hi @Anna Korishch Welcome to BP's! I'm currently buying multifamily (6+ units) in Edmonton. Whatever market you choose, work on putting together an investor-focused power team in that city, and then they should be able to help you figure out what is the best strategy and type of product to buy for that particular market. I find this chart below interesting, though it is from 2010, and there's no way it is accounting for all the duplexes and 2-unit basement-suited houses in Edmonton (maybe because they aren't considered apartments?).

Either way, it's interesting to compare Edmonton vs. Montreal for buildings with <6 units.

@Danielle Leo and @Anthony Loggia speaking of Montreal, I'm wondering if you can provide your insights into why there are so many small multi-unit buildings in Montreal vs. other cities. Was it just the preferred product to build as the city grew? 

data from 2010

Hi Anna, we are currently have 185 multi-family units on Vancouver Island (2 stabilized buildings and 1 active project). As I'm sure you are aware with your Vancouver investment, the west coast is seeing some major upswing which has ruled out any significant cash-flow on single-family and multi-family (not to say you can't find the needle in the haystack). You're likely purchasing in and around a 5% CAP (and even lower for smaller entry level buildings due to the amount of competition in that price range). This isn't terrible but definitely not great and can still achieve $100+ cash flow per door with today's lending rates no problem! Being an inflated market that is seeing lots of attention and low vacancy we have realized most of our success through the value add component of these projects with the ability to work with the tenants not against them as BC is largely in favour of the tenants alongside rent increase restrictions.

@Anna Korishch I'm an investor from Ontario in similar boats as you. I'm looking for cash flowing multiplex in the Maritimes and Alberta while trying to build a local team. I'd love to connect with you so we can learn from each other's journey. 

@Anna Korishch I have had some success with investing from a distance in Atlantic Canada (New Brunswick and Nova Scotia), but as Chris Baxter said, The market in Atlantic Canada is tightening up quickly Especially Moncton). I have been focusing on Saint John New Brunswick lately and have had some success (I purchased a 4 unit in Fredericton and 6-unit in SJ late last year and have another 4 unit currently under contract in SJ). 

I would be happy to share my experiences of investing out of province and how I build teams to help in each location. Feel free to P.M me!

I'm a broker from Montreal and I can say that Montreal's multiplex pricing has risen tremendously these past few years. Bidding wars are very common. Montreal still has plenty of room to grow but not the best for purely cash flow purposes. You can find some solid opportunities off-island though.