Updated over 6 years ago on . Most recent reply
Getting into Real Estate Investing in Canada
I live in Ontario where the market right now is a little crazy is some places. I have been doing a lot of research on real estate investing. The next step is trying to learn the ins and outs a little more as most of the info i tend to read and take notes on is U.S based stuff. I'm finding it difficult to find out as much info on the things you can do in Canada. I have been looking for local meet ups in my area but can't seem to find any. What I am really asking is how did other Canadians get into real estate investing? I like the hustle, I like the numbers but before i make my first purchases, i want to know what other people did to learn the market better. Where did you get money if the bank won't give you the amount you need? are there a lot of hard money lenders or is that not as common or is it the result of being able to network with more people? I have a lot of questions i could ask but i also have a lot of ambition so I know that i will learn more about the ways we do it here by doing it. But I know networking is where i need to start.
Thank you yo anyone that replies. Any info is greatly appreciated
Most Popular Reply
#3 Managing Your Property Contributor
@Randy Holdaway What are your goals? Do you want to do single family, multifamily, long term rentals, flips or short term rentals? There are pros and cons to everything and you need to know what works best for you.
Research the market you want to invest in. I have places where I live and others in the area where I want to retire in 10 years as the two markets are very different and where I live the prices don't go up as much.
For financing, I save for my down payment and get a mortgage from a bank for the rest. My preference is to buy something that either needs no work or only a bit of work (though that went out the window with on place I bought) as I work full time and most of my rentals are not local.