Is Durham region the up and coming area?
So I closed on a few purchases in this region in May and it got me wonder: should I replicate my Toronto strategy to Durham as well? The reason being is that the news last week indicated the new casino will probably bring about 30k jobs+ to the area plus there's a proposal to build an airport bigger than Pearson in the future, and the nuclear plant is confirmed to be shut down by 2024 and all waste treatment completed by 2028.
So far, this is about the only area where I can get a Lakeview large lot (50-75 frontage) under 1 million in a large residential community and there are houses still under 500-700k range. I'm evaluating whether I should replicate my strategy in elsewhere in Toronto where I start to buy multifamily as well as start doing duplex and triplex conversions in the area to do an equity lift upfront and hold for a 5 year exit. I like Pickering and Ajax particularly. Anyone has real numbers on investment property in these regions?