First Time Question: Should I Stay or Should I Go?

Question

Hi BP'ers

This is my first post and may be a little long but hoping the community can help out the "New Guy"

I live in Canada recently refinanced my primary and only home to invest in properties. Here is my situation...absolutely everything I've been reading and listening to as far as returns seems to be geared toward the U.S. They talk about 1-2% rule and got to be honest those returns are impossible to find in my area where the average home now sells for 1.2 million. I have been informing myself and seems to be opportunity south of the border. The big question is in order to get good passive income and at least 1% return should I skip investing in my backyard to invest where it's possible to make a good ROI in a short time. Don't know who said this " Live where you want and invest where it makes sense" but I'm looking for some input and not partial to any turnkey vehicle that will take me there.I know there will be tax implications and a bunch of other legal stuff that's involved which I'm also hoping that someone with experience has will be able to guide or point me in the right direction.

Big Thanks

Siobhan D. · Answer

Before looking at the US why not just drive an hour (or less) out of the GTA?

Ruth Bayang · Answer

Hi @Errol P. I personally prefer to invest in my own backyard, although I have one rental in another state. It depends on your comfort level.  And that varies from person to person. You have to decide what's right for you, weigh the risks, pros/cons and take action.And welcome :)