Struggling to find good deals

[Vlad Romanov]

Hi all,

I'm currently searching properties in the Montreal, Quebec (Canada) region. That being said, the numbers just don't add up to what I would expect. A tri to quad-plex would hover around 600-800k in reasonable condition, would require roughly 20-30k in repairs, and provide 20k-30k pre-expense yearly revenue.

I've created multiple spreadsheets, looked at many properties and it just doesn't seem to make sense to invest in a property in this region. Comparably, a house in the suburbs is often listed around 300-400k with similar revenues. There's obviously a difference in vacancy rates and how must the house grow over the years, but is this normal?

For a first-time buyer, how would you recommend to proceed? I've gone over calculations multiple times; now is the time to make a decision.

Thank you all for the valuable resources and contributions,

Vlad

[Jim Pellerin]

You arent going to find a lot of good deals on MLS. And maybe the numbers don't work for duplexes or triplexes or quads.

1. Run ads in classifieds like Kijiji

2. Look for motivated sellers in Kijiji. I used to contact every person who posted a For Sale or For Rent ad.

3. Contact your mortgage broker.

4. Contact your accountant.

5. Contact all the real estate agents you run across.