All Forum Posts by: Anna Korishch

If you are in Ontario , most likely people who live in 4 plex are not with a good credit score, I wonder how you are going to make sure they are good tenants

@Anna Korishch

Thank you, Sam, for sharing the concern. We are planning to work with a property manager who will help to do tenant screening and reference check for potential tenants.

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Originally posted by @Danielle Leo:

Hi Anna, curious how you invest "passively" in GTA condos? and how do you plan to invest more actively in another area, if you don't live there? To me all ownership in RE involves some degree of active management, be it renovation/tenant turnover/maintenance, which is the main reason I haven't invested in any projects outside my city of residence. Would love to hear about your experience.

I don't know much about other markets, but in my area (Montreal) there are still good opportunities to enter the plex market. There are several reasons that I think Montreal RE still has huge up potentials: the prices are still low (although I've already seen major appreciation over the last few years), many many multi-family aka. plexes for sale on the island (vs. mostly houses&condos in Toronto), several universities drawing new students every year, economy is doing great creating jobs, and locals have generally an open mind towards renting (higher rent/own ratio than any other major cities in Canada). If you partner with a good agent you can find deals that generate positive cash flows, and if you are willing to do renos the cash flowing/appreciation potential is big.

Happy to discuss more.

Hi Danielle. Thank you for sharing all the details. I have not looked in Montreal area yet but from your perspective it sounds like a nice market. It totally worth to look more into it.

Regarding my experience with passive investment, we worked with a friend of our family who was a real estate agent and had a property management team as well. She found several good options for us to invest in, helped to get financing for them and took over the management to rent them out. Tenants, maintenance, bills - she and her team did everything for us. I now understand how lucky we were and that it could turned out to be a disaster because we easily got into what we had no idea about. It was many years ago and fortunately it still works very well.

Now I believe that I have some more understanding about REI and will be able to make more deliberate decisions. In order to invest long-distance, I hope to find the right people and build a team in a market that we choose and work with them. I do understand that it is harder to invest where you do not live but I think it provides more possibilities. We own a house in Edmonton, AB that we had to renovate and then rent it out. We did it all while we were living in Ontario. We have a property manager and contractor who help us make it work.

We are only in the beginning of this journey and I cannot give any advices yet. Currently we are trying to choose a market to try it all in practice.

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Originally posted by @Roy Cleeves:

@Anna Korishch Hi Anna. I am investing in Halifax, Nova Scotia now even though I live in Kitchener, Ontario. Halifax has similar rental rates compared to Kitchener yet the homes are much cheaper to buy. And Halifax is the 3rd fastest growing City according to Stats Canada's last review. The number 1 was Oshawa and 2 was Kitchener Waterloo area - and both of these are higher priced compared to Halifax.

Feel free to PM me to chat more. Cheers. Roy

Hi Roy. Thank you for information! We are considering Halifax as well. It is good to know that it works for you to invest there from Ontario.

1 Vote

Originally posted by @Chris Baxter:

@Anna Korishch Welcome to BP. You'll get lots of insights on this forum as there are many ways to make MF investing work. Many markets have changed dramatically in the last year, with CAP rates dropping as new investors poor excess cash into REI. I've seen my preferred market (Moncton, NB) where we own 29 MF doors severely impacted and I am looking elsewhere for our next MF investment.

Thank you, Chris, for sharing. 29 doors is a very good number. We are considering Moncton, so it is good to know that the market changed recently. Good luck with choosing a new market for your next investment.

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Hello Everyone!

My husband and I are beginners in real estate investing from GTA, Ontario. Since prices here look too expensive for us we decided that we would like to choose another market for investing in. We are ready to invest long distance. This is why we would like to get some understanding regarding what markets work for others.

We would like to invest long-term in rental multi-family properties. We are planning to start with small residential properties in order to get some experience. The idea is to buy 3- or 4-plex this year that would require some minor renovations and rent it out. Ideally, we would like to buy properties that have some cashflow ($100 per unit would be great) and some average appreciation over a long run.

Currently we own several condos in Toronto, one in Vancouver and a single-family home in Edmonton. All these investments are mostly passive. We would like to become more deliberate knowledgeable and active real estate investors in the nearest future.

If anyone is ready to share where they invest and what markets work for them it will be highly appreciated. I am new to BiggerPockets, forums and real estate networking in general, so any suggestions and constructive criticism are welcome as well.

Thank you for your time!

6 Votes

All Forum Posts by: Anna Korishch

Anna Korishch has started 1 posts and replied 15 times.

Post: Market in Canada for Multi-Family

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Post: Market in Canada for Multi-Family

Post: Market in Canada for Multi-Family

Post: Market in Canada for Multi-Family