All Forum Posts by: Chris Baxter

@Navroze Pirza  We invest primarily in NB

Landlord friendly (for keeping pace with market rents) are:

• AB
• NB
• NL
• NS
• QC
• SK

ON, BC, PEI, MB all restrict how much a landlord can increase rents

I would use a team that is local to the area your are purchasing in. Your Realtor can refer you to a local agent with the same firm.  Reasons... 1) real-estate documents are not the same in each province 2) Realtors generally only have access to listings in their own jurisdiction 3) a local agent can connect you to other local resources (insurance, inspections, etc.) 4) a local agent will likely know the history of the property and steer you clear of a dud

@Tanveer Mostafa  I can't speak to your investing goals, but this deal wouldn't get my attention for the following reasons

1) It barely cash flows / doesn't cash flow. Anything with a DCR under 1.1 doesn't work for me

2) The property will sell for over asking.

3) Due diligence (inspection) isn't possible

@Alek Suarez I don't think that anyone can confidently say where housing prices are going to go. We're seeing a complete disconnect between the economy and the stock market right now, for example. It also depends what you are buying. Multi-family will still largely be driven by NOI. Single family is more likely to see an impact.

There are always bargains to be had; I wouldn't get caught up trying to chase unicorns to predict the bottom of the market. Best of luck on your search!

Until Ontario provides balance in landlord/tenant reactions, you are unfortunately hooped.  This is why we've pulled out of Ontario in favour of more balanced jurisdictions.

BC is just as bad; I heard a story on the news yesterday where a snowbird rented out her house for 6 months while away. She is now barred from moving back home as the short term tenant refuses to leave (or pay rent) and their is no ability to evict

Hello David,

Welcome to the Canadian side of BP!  Since every country has its own tax, finance, and legal nuances, I'd recommend that you take some time to read books that are specific to Canada. Some to consider:

1. Legal, Tax and Accounting Strategies for the Canadian Real Estate Investor by George Dube and Steven A. Cohen

2. Real Estate Investing in Canada: Creating Wealth with the ACRE System by Don R. Campbell

3. Making Money in Real Estate: The Essential Canadian Guide to Investing in Residential Property  by Douglas Gray

4. Commercial Real Estate Investing in Canada: The Complete Reference for Real Estate Professionals by Claude Boiron and Pierre Boiron

This forum is a good place to make connections, and there are pockets of REI meetups (and some national fee-based clubs) that can help you learn the ropes.

One thing to note about Ontario is that it is very pro-tenant.  Rent controls are in place (which limit your ability to capitalize on market rental growth), and it is exceptionally difficult to remove bad tenants.  

Each of Canada's 10 provinces (there are also 3 territories in the north) has completely different tenancy legislation and market drivers.

Good luck on the move!

New Brunswick has an affordable housing program, and I've analyzed properties where some/al of the units are subsidized:  https://www2.gnb.ca/content/gnb/en/departments/social_development/promos/affordable_housing.html.   Here is the Ontario program:  https://www.ontario.ca/page/af...  It has a link to investment in the program. Details on the Social Housing Investment Program are here  https://www.hscorp.ca/our-prog...

@Steven Huang... signed current rent roll for me

@Kelvin Truong .  As suggested by @Account Closed, it is important to get access to Canadian educational resources if you want to learn how to invest in Canada.  Lending in the USA and Canada are very different. Douglas Gray's Making Money in Real estate is another good Canadian resource.  There is no "better" way to invest, only different options for different investing styles and philosophies.  On this forum, you'll be able to connect with successful folks that invest only in single-family, or only multi-family. You'll also meet people that buy empty land, trailer-parks and storage units.  So... my advice is, do some reading, figure out what works best for you, identify a market, and start running the numbers... good luck!

Thanks @Roy N.  I appreciate the contact.