All Forum Posts by: Kenneth Noronha

Does anyone have any experience with rent to own deals in Ontario? I'm specifically looking at Brantford due to rising house prices and the diminishing ability to get a cash flowing property in a decent condition. How easy is it to get a tenant? Is it feasible at all in Brantford?

It sucks that for the past three months I've been wanting to go to all these investor meetups including yours but I've always had something like an exam or necessary travel :(

Hey Sarah I was looking a couple of areas: the area between Park Ave, Wayne Gretzky Parkway, Grey St. and Dalhousie. The other areas are south Brantford in between the river and Mohawk, and Terrace hill. They're pretty large areas, but I at least want a general idea. I was looking for rates for 3 bed 2 bath single family homes and also duplexes. Thanks!

I just checked it out. It seems like it's for more experienced investors and I'm sure pricing may be steep, especially for a newbie. Not even sure whether geowarehouse displays old data. I'd say go through an investor friendly realtor when you're ready to buy. Otherwise just go out there and meet investors, network, and you'll probably find a few that will mentor you and help you out.

Hey Canadian BP members, I know this is kind of a newbie question, but how can I find out about rental rates other than by talking to other investors? I just want some solid numbers I can rely off of rather than anecdotal info. When I was finding rental rates in Hamilton, I just went on kijiji and took down a bunch of places for rent so I had a good idea about rental rates. With Brantford, there aren't enough properties on kijiji to get a decent about rents in certain areas. 

If you want to find out about rental rates in different areas, what i did is every once in a while, i went on kijiji and looked up houses for rent. Then i looked for the houses that fit my criteria (3 bed 2 bath SFH or duplex mostly and some more, some less). I took down some key info like postal code, address, etc. And put a it in an excel sheet. Then i numbered all those rentals and mapped them onto a map of Hamilton in my case. you can do this every 2 weeks to a month.

By the way I'm in the same position as you. I'm studying mech eng at McMaster. Also where are you looking to buy your first? I don't really know much about the Kitchener Waterloo market but i know that prices have ridden and are still rising quickly.

If you want to talk a little real estate feel free to message me.

@Roy Cleeves

The lower priced houses in Hamilton are mostly 60+ years old and there are many that are also 100 years old all in central hamilton. The prices for a SFH in the area is also outgrowing the market rental price. If anything, it's probably best to make a decision quickly.

@Matt L. The latest BP podcast has a Canadian investor who roped in $30 million to invest in the states, but that doesn't exactly happen every day. Also I have the same thoughts and I may be looking to the US as well. My lack of capital is killing me because it stops me from investing in Canada. I think I'm going to start researching some areas right across the border like Buffalo. If any Canadians have been investing in the US it would be great to hear that point of view. Also would anyone recommend doing a first deal across the border? 

@Scott Steffek it's funny because that's almost exactly what I was expecting. Real estate, I realize, is ultimately a business that needs to be taken care of. For me if it means incredible success in the future then why can't I do it? It's pretty obvious by now that real estate isn't going to make me a millionaire in 6 months, but it is possible in 10-12 years. Am I expecting that? Not necessarily; it depends only on how I perform. Other than that, I agree with everything you said about this industry. That's just my train of thought.