All Forum Posts by: Gary McGowan

Always buy in areas that have good economic fundamentals. Your in Hamilton and I know many investors there that never leave the area because there are some great opportunities there. 

Lot's of research still needed. 

Think about these 3 questions. How will you buy it? How will you add value to it? How will you sell it? 

The Toronto area has 5,000,000 people living in it with about 150,000 new people moving to the area every year. There is a large demand for rentals however the purchase price is very high. You may want to consider areas like Barrie, Kitchener-Waterloo and Hamilton where the prices are not as high.

Kijiji or work with a Realtor who can put on the MLS

AFS is a strategy that was popular in 70's. Very few lawyers now know what they are. I suspect over the next year or so sellers and buyers will have to get creative again for deals to close and we might see this come back. The downside to AFS is that the lender has the right to call the mortgage at anytime and the seller's name stays on the mortgage meaning it could be very difficult for them to get a new mortgage on another home if they wanted to. 

Network, Network Network.... 

Attend local BIA groups,  Real Estate Investment groups and so on. To find them just jump onto Eventbrite.ca or Meetup.com 

Hi Steven, 

My team and I have extensive experience in owning / buying / selling investment properties and would be happy to help with any insight you might have. 

Thanks, 

Gary

Hey Sarah, send me a pm. I will get you connected with a great investor agent.  

Hire / Partner with people that excell in areas where you are weak or have little experience in. 

New homes vs old homes..... Here are the three questions that you should think about when looking at a property for the first time.

1. How are you going to buy it?

2. How can you add value to it?

3. How can you sell it? 

From there you can ask many more, but this will give you a good starting foundation to go with. I have bought some new homes and yes they tend to appreciate a little faster but it all averages out. You can't add too much value to it because the builders are already tapping it out. Older homes typically provide you with the greatest upside. This is where I like to play... I've bought century homes that require $$$ to upgrade but they have been some of my best properties.