All Forum Posts by: Paige M.

If you find a strong enough team that you trust you should consider investing in an area outside of T.O I know the London area is doing great. Check out Matt mckeever on youtube. I hope to have a team like his one day.

@Hai Loc

@Hamza Qureshi

Sorry if that was a lot of # but I hope it helps, let me know if there's anything else I can help with.

What I forgot to say is for me I would prefer outer area because the ease of management beats the appreciation in ottawa and atm that is what I am currently more interested in. 

But like I previously said, appreciation and a few renos can go a long way in this area.

Absolutely, I live in that exact area and it was one of the first that I looked into purchasing.

So perfect example right now 5 bed 2.5 bath on Iris road, rooms in that area rent for between 600-700 depending on size and amenities like parking laundry they can get as high as 900 fully inclusive. To be reasonable let's say your gross income would come in at around 3200. This particular one would need some love so lets say 15k for reno, paint maybe updating, and misc. Down of 20% if you could get it for 400 would be 80k unless you plan on owner occupying but lets go 20%. For expenses I would go with 12% for vacancy as it is a student rental, 7% on repairs and cap ex. Total expenses with PITI would be about 2800. This leaves you with around 360 cash flow. Keep in mind that that is with no property management.

Without taking into consideration your COC return would be just over 4% for the first year. But if you consider the ARV it could get upwards of 40-50% for the first year and around 12% every year after.

If you went the route of a Property manager to make life easy this would be a bad deal, -60 cash flow with under 1% COC.

This would be something I personally would consider because rates for rooms are rising, just 3 years ago rooms would go for 450-550in the same area. 

I do however invest outside of Ottawa and get a very similar return with less worry on vacancies and management.

Hey @Hamza Qureshi, I live right off of baseline are you buying East or West end? East you'll get more uni students, west is more small families and center is lots of college students.

thank you @Allen Seto

So It would be my first purchase ever. Ideally I would like a duplex or a house I could renovate into a duplex so I could rent out one half and use the other as my primary residence. If I cannot find a property that fits that Criteria in my price range than I would most likely go for a town home that would be used to rent out.

The 12 month mark is primarily because I am almost certain not to get approved for a 5% down mortgage because my income is so low even though it will be increasing, I still need the time to save up for the 20% down so I'll have a better chance at getting approved. I still have to have more meetings with mortgage brokers to get a more accurate estimate on that though. 

Thank you so much @Haseeb Awan I will definitely check out OEIO

Hey BP,

I just recently discovered BP and am very excited to be a part of this community. I live in Ottawa ON, Canada and am looking to by my first property by fall next year. Primarily interested in hold and cash flow properties. I still have a lot of saving to do as I am only at 7% down for an estimated 200-300k property and am looking for a HELOC to buy, but I am very excited to get there. I am only a server at the moment so my income is on the lower end but it will be almost doubling by March of next year which will put a boost on my savings. I have started to view homes and do calculations to see if they cash flow positively but am still learning a lot.

I am extremely excited about all the forums and the potential education I will receive from this website. 

Hi, I just joined BP in hopes of getting some information on any seminars and meeting more people in the area that are new to investing. I still haven't bought my first property but have been doing the calculations on those for sale close by that I am interested in and everything is bringing in a low cash flow if any. 

I was wondering if you guys typically buy in Ottawa core, or if you go more towards Kanata or Rockland area.