New to Real Estate - wondering about approach to take
Hi everyone, I am based out of Ottawa, Ontario (Canada) and I am new to real estate.
I have decided on a niche and a strategy. This would be to buy and hold multifamily properties. I am thinking of narrowing down my target market to student housing in the city of Kingston, ON which is a college town. Most employment, both direct and indirect depend on the local University (Queen's University). The reason why I choose this route is because I was myself a student at this school and lived in Kingston for a few years. I am therefore familiar with the town. Moreover, real estate in many major cities in Canada seem to be too expensive.
I was wondering whether it makes sense to attempt to "specialize" in a target market? In my case, this would be for students attending a particular university.
Also, anyone who has experience landlording in Kingston should feel free to chip in as well! I would like to hear what your experience is like.
Thanks.