Hello to all that read this post,
I am in my late 20's, and have a dream to eventually gaining Financial Freedom through REI. I currently own a town home in Peel Region (for those of you who don't know the GTA it is North-West of Toronto) and a condo that is currently under construction located in North Toronto. i have been fortunate enough to make some extra profit in the stock market (thank you cannabis stocks) and am looking to use those profits for another potential rental property. I am hoping to connect with like minded people on this site who can offer advice on what they have done within this current market (Toronto market is sky high at the moment). i am currently weighing my options on SFH, MFH or student rentals? Also debating to stay within the greater toronto area or look at more reasonably priced units outside (Windsor, London, Sudbury).
I appreciate all who take the time to read and shed some light for a small time rookie in this large REI game!
Hi Nick, I am a home owner in Kitchener area. I have started the process of REI in Windsor, I have seen some viable numbers and want to get in the game. On a side note I am also interested in the Cann Stock industry. What companies would you recommend investing in?
hi Nick Pastore, it's nice to see someone who wants to get into this opportunity to take advantage of their future , just ask any questions that you'd may have for me.
always looking to help new people as well as stay on top of others insightful contacts to see other strategies and leverage as you become a seasoned investor to take advantage of growing quicker .
as they say there's power in numbers.
currently own multifamily as well as single family homes.
i suggest listening to recent as well as older bigger pockets podcasts to get an advantage on different opportunities.
thanks Darryl Zuber. How is the rental market in Kitchener? the hot GTA prices have also spread to Kitchener as purchasing properties there is also quite expensive.
hi there Nick Pastore, the rental market is very hot here in kitchener / Waterloo market due to this area being the new tech sector of north america, with employment opportunities with google and facebook , and other start up App companies such as kik and others. also with this region having 2 of the countries top universities, this allows for great rent also as once school was over students would go back home but the stay and get work. that's allowing the waterloo region to grow .
@Darryl Zuber a lot of articles and research I have been reading for the past year has said the tri-city area is a sound investment for the near and foreseeable future. But housing is expensive in the area, what are your thoughts in the condo market there?
the Condo sector is great for rentals but as for cash flowing it might be a better investment eslewhere, like further west like London, Windsor, and even the Sarnia market.
the condo market has appreciated in values over 20% over the past 2 years alone.
this area is great due to the amount of people that want to just be renters, there is no shortage of people wanting to rent.
wow 20% in two years, sounds like the GTA market with those numbers!
Do you know of any new condo builds that are in pre-construction? Also what areas of Waterloo would you recommend?