Investing in Windsor Ontario

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Investing in Windsor Ontario

Scott Innocente
Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes

There is a lot of economic development going on in Windsor right now, so I've started this thread to keep people up to date on all the latest news.  As we all know, economic development is directly correlated with real estate prices; keeping track of the latest news should help all us be better real estate investors.  Check back regularly for updates!

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Investor-friendly agents in Windsor, CT

See the agents BiggerPockets members work with in Windsor, CT.

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Don Trinh
Member since 2017 · 6 posts · 4 votes
7y

Thanks for posing this info scott. I am a fan of your work! You are like a reporter but for investors of windsor. 

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  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    Gordie Howe International Bridge Construction Underway (flyover video below)

    Important for investors to note that the Canada Border Services Agency already employs nearly 500 people in the city (high-paying, secure government jobs with pensions and benefits). Further, this project should bolster other border-related jobs in the city such as customs brokers (think Livingston) and also logistics company.

    The multi-billion dollar bridge project is one of two (Ambassador Bridge Twin Span) that will contribute to Windsor's economy for the next 5-7 years of construction, and then beyond that with the jobs needed to operate North America's busiest border crossing.

    https://youtu.be/OF5yT2gXNcs

    0Reply
  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    Gordie Howe Bridge team announces $270K community investment in Windsor

    THE GORDIE HOWE INTERNATIONAL BRIDGE PROJECT TEAM ANNOUNCED ON THURSDAY $270,000 OF FUNDING INTENDED TO SUPPORT COMMUNITY INITIATIVES IN WINDSOR.

    More money being poured into cleaning up some of Windsor's most neglected locations. We are seeing a lot of investment in the Sandwich town area partially triggered by the construction of the Gordie Howe Bridge and partly fueled by private investors.

    https://www.cbc.ca/news/canada/windsor/gordie-howe-bridge-270k-community-initiatives-windsor-1.5487573?fbclid=IwAR0rK_EIGNG7FwYf7TPS2u2JMZJfaDnzZufeCn8EQmgqOMDAqYtq9i7F_nI

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  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y
    Toronto’s affordability crisis: How residents are being forced out of the city they love

    The narrative that "people are moving to Windsor from Toronto" is not just a made-up story. I get calls almost weekly from Toronto residents looking for a home here locally. It only makes sense if one is looking to seriously upgrade their lifestyle while still having access to big-city amenities just 5 minutes across the border.  

    The city of Windsor wasn't built to house this many migrants which is why builders can't keep up with the demand.

    https://globalnews.ca/news/6575583/toronto-affordability-crisis/?utm_medium=Facebook&utm_source=GlobalNews

    0Reply
  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    SARS Outbreak 2003

    I know most people are uncertain how this Caronavirus situation will play out, understandably so.  It is, however, important to note that we have been here before.  This is not the world's first pandemic and it certainly won't be the last.  Take a look at the link below and watch the footage from the 2003 SARS outbreak.  Almost the same sense of panic and uncertainty then as there is now.  I am fully confident that the world is not ending and that this virus, like all others in the past, will eventually be controlled and contained.

    https://www.youtube.com/watch?v=JxdHjK1RME8

    0Reply
  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y
    Ontario unveils plan to combat ‘renovictions.’ Critics say the rules will make it easier to evict

    https://www.thestar.com/news/gta/2020/03/12/ontario-unveils-plan-to-combat-renovictions-critics-say-the-rules-will-make-it-easier-to-evict.html

    0Reply
  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    Ottawa to buy up to $50-billion in mortgages in move that harkens back to the crisis of 2008

    OTTAWA SAID THE MOVE IS “IMMEDIATE, SIGNIFICANT AND EFFECTIVE ACTION” TO SUPPORT CANADIANS AND BUSINESSES FACING FINANCIAL HARDSHIP AS A RESULT OF THE PANDEMIC AND ITS IMPACT.

    Ottawa stepped in with a similar program during the 2008 financial crisis. The Canadian government did not buy soured mortgages, as was done in the United States. Instead, the idea is to give the big banks funding and liquidity flexibility so they could provide cash and credit to individuals and businesses, as needed, to keep the economy going.

    “As insured mortgage pools in Canada already carry Government of Canada backing, there is no additional risk to taxpayers,” the statement issued late Monday said, noting that the purchased insured mortgage pools will earn a rate of return for the government that is above its own cost of borrowing.

    https://windsorstar.com/real-estate/ottawa-to-buy-up-to-50-billion-in-mortgages-in-move-that-harkens-back-to-2008/wcm/796e2228-b9bf-4f27-9b6c-34cbb6520130/?utm_medium=Social&utm_source=Facebook#Echobox=1584443555

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  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    I'm recommending that investors use this turmoil, fear, and potential market slowdown to look for opportunities to buy cash flowing properties, in good locations, at discounted prices.February sales were very strong and we are still seeing multiple offers right now in Windsor. That may change as waves ripple through the economy. When the dust settles, CREA predicts a sharp rebound in pricing and demand.

    https://www.cp24.com/news/crea-reports-home-sales-up-in-february-average-price-climbs-higher-1.4854645

    0Reply
  • James Chapprll
    Hamilton, Ontario · Member since 2018 · 1 post · 2 votes
    6y

    Hey Scott, do you have any recommendations on property managers in windsor/your network? Currently using Marda and not impressed. Would ideally like to find a smaller company that cares a little more.

    Thanks

    James

    2Reply
  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    @James Chapprll hey James, send me a PM.

    0Reply
  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    Whether in the stock market or the real estate market, patience is a virtue.

    0Reply
  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    Almost 33% of Canadian households rent their homes. Who is going to help them in the coronavirus crisis?

    HAIDER-MORANIS: MORE INTERVENTION IS NEEDED LIKE A MORATORIUM ON RENTAL EVICTIONS AND A PROPERTY TAX HOLIDAY

    https://business.financialpost.com/real-estate/almost-33-of-canadian-households-rent-their-homes-who-is-going-to-help-them-in-the-coronavirus-crisis?utm_medium=Social&utm_source=Facebook&fbclid=IwAR2-QuckVkVxmE9P75luZlEfYdGQ-STdyd-h2yHSU999-A8GN4urUUQWvnY#Echobox=1584645924

    0Reply
  • Jeremie Duchesne
    Member since 2018 · 4 posts · 2 votes
    6y

    Hey Scott, I have the same property management question as well. I'm with Marda right now. 

    0Reply
  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y



    Canada’s Population Explodes At The Fastest Rate Since 1990, Even With Outbreak 

    Let's get back to fundamentals here. Even though we are in a tumultuous time, market fundamentals will always prevail over long periods of time. One of the main drivers for real estate prices up to this point (and moving forward) is population growth. Simply put, the global population continues to rise rapidly while the size of the earth is remaining the same.

    Canada’s Population Estimate Grows At Fastest Rate Since 1990

    Canada’s population is growing at the fastest pace in decades, according to estimates. The population hit 37.89 million people as of Q1 2020, up 0.26% from the previous quarter. Compared to the same quarter last year, this is a 1.56% increase. The annual increase is the highest since Q1 1990 – three decades ago.

    Ontario’s Population Hasn’t Grown This Fast Since 1990 Either 

    Ontario is also growing at the fastest pace in over a generation, and much faster than the rest of Canada. The province represents 14.71 million people, up 0.36% from the previous quarter. Compared to the same quarter last year, this is a 1.87% increase. We also need to go all the way back to 1990 to see such large growth in Ontario. It’s estimated to be the second fastest rate of growth for any province, right after PEI.

    https://betterdwelling.com/canadas-population-explodes-at-the-fastest-rate-since-1990-even-with-outbreak/

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  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y
    'It shouldn't be up to tenants': Ottawa business calls for rent help

    LANDLORD ASSOCIATION AGREES GOVERNMENT NEEDS TO STEP IN

    Many of us landlords are left with major uncertainty around whether or not our rents will be paid. I know investors that own 50+ properties in the city and am trying to imagine how one could possibly navigate that kind of tsunami of unpaid rents. Many lenders are refusing to defer mortgage payments for investment properties.

    Landlords provide a valuable service to society and should not be left "holding the bag" during this crisis. The government needs to step in to ensure our protection.

    https://www.cbc.ca/news/canada/ottawa/ottawa-coronavirus-rent-1.5506264

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  • Navroze Pirza
    Rental Property Investor · Los Angeles, CA · Member since 2017 · 43 posts · 3 votes
    6y

    Any news on Mortgage deferment for landlords?  I know there is rent deferment, but I am only seeing mortgage deferment in the way of postponing interest (not along the same forgiveness lines as what tenants are able to get).


    Any insight here, on what the government/banks are doing to avoid landlords/investors from going under if they cannot collect rent due the coronavirus?

    0Reply
  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    @Navroze Pirza it is still too early to tell, though I do find it hard to believe that government agencies will allow landlords (especially large landlord with 10 + properties) to foot the rent bills for the next several months.  If these landlords can't pay their mortgages then it will lead to a lot of defaults and the banks would then own the properties.  Nobody wants this.  I'm hoping they come to a solution soon.

    0Reply
  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    BREAKING Bank of Canada cuts rate to 0.25% in emergency move

    Bank last cut rates to this level in 2009, during the global financial crisis

    There are some bright spots for investors in this troubling time.  Money is about as cheap as it can get right now.

    https://business.financialpost.com/news/economy/breaking-bank-of-canada-cuts-rate-emergency-move?utm_medium=Social&utm_source=Facebook&fbclid=IwAR0USYjQpLsIYHGbphLalg9CLKiqsINfxwYqDRuEfh6Kn5DzGndhqatC7zw#Echobox=1585315245

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  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    Windsor's first pot shop opens for business

    COULD MARIJUANA SALES BE A NEW BOON TO WINDSOR'S LOCAL ECONOMY?

    Located at 545 Ouellette Avenue, it is nice to see some new business open up right in the heart of Windsor's long-neglected downtown core. 

    With major players like aphria located just outside the city, it is a very real possibility that Windsor's marijuana industry attracts travelers from all over the province and the USA as well.

    https://windsorstar.com/news/local-news/windsors-first-pot-shop-opens-for-business/?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook&fbclid=IwAR1tRLEGRu6b915eePz8g4NTE76LONekF5j2rozUCtv_Qy97MA5FkyA34SY#Echobox=1585497058

    1Reply
  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    Everything You Need to Know About Recessions

    RECESSIONS GENERALLY DO NOT LAST VERY LONG. ACCORDING TO CAPITAL GROUP’S ANALYSIS OF 10 CYCLES SINCE 1950, THE AVERAGE LENGTH OF A RECESSION IS 11 MONTHS, ALTHOUGH THEY HAVE RANGED FROM EIGHT TO 18 MONTHS OVER THE PERIOD OF ANALYSIS.

    We are likely to be thrust into a recession (if we're not already there) with a significant contraction in GDP for an extended period of time. Recessions come and go but they never last forever. I know many people (myself included) who wish they would have bought more real estate, or bought more stocks during the 2008-2009 global meltdown. The next several months will be interesting times indeed, times that are likely to be ripe with opportunity. I will leave this post off with one of my favourite quotes of all time:

    https://www.visualcapitalist.com/recessions-everything-you-need-to-know/?fbclid=IwAR0RxKZ3mORK7KQmi2P4OWz6EMbHJqyNsW876CWhwqDZBXF_oPky962uV8A

    1Reply
  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    China’s housing market springs back to life as sales in 30 major cities triple with coronavirus crisis abating

    We are in the middle of a major health and financial crisis, but this too shall pass. When it does, can we expect markets to slingshot forward like it already has started to in China? Keep in mind, seeds are planted in dirt and darkness, then they grow in the sunlight. Investors should look to plant seeds in this time of darkness and watch them grow when life returns to normal.

    https://betterdwelling.com/city/toronto/toronto-new-home-sales-doubled-even-with-covid-19-pandemic-warnings/?fbclid=IwAR1WZVpXD3nMRmrBuHyyBY-YV6lz11PfcuthPxVL2rWCauLh10WxwIXKOEg

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  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y
    Canada is in for a massive economic shock — but top economists say the recovery will be surprisingly fast

    The Caronavirus has caused a very quick shock to the global economy (which was humming along nicely prior to this outbreak). There is not telling when the curve will flatten or when things may return to normal. When that does happen, the five major Canadian banks are predicting a rapid recovery for the Canadian economy.

    These are trying times indeed, but we need to look forward to how the economy will rebound post-Caronavirus. The best time to buy assets is usually when the average person either doesn't want them, or can't afford to buy them.

    https://www.thestar.com/amp/business/2020/04/02/canada-is-in-for-a-massive-economic-shock-but-top-economists-say-the-recovery-will-be-surprisingly-fast.html?fbclid=IwAR1f_m6KYvAScPBDzjeWd6esBVe5zWXaDEaGf8wHTlRN_JxoTzBIAicH2Xk

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  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    Windsor-Essex real estate surviving COVID-19 measures

    NEW REAL ESTATE NUMBERS IN WINDSOR-ESSEX SHOW COVID-19 HAS YET TO TAKE A BIG BITE OUT OF THE REGION’S RED-HOT MARKET.

    Windsor's real estate market is still experiencing more demand than supply as properties continue to see multiple offers and over-list-price sales. The average sale price rose 7% year-over-year despite the impacts of COVID-19.

    Despite the above statistics, the market does appear to be slowing. Where previously a property may attract 10+ offers, we are now seeing 2-5 offers. If you were looking to buy over the past 2-3 years, you understand how competitive the market was and how difficult it was to purchase a property in Windsor. Now may be the time to start looking.

    https://windsor.ctvnews.ca/windsor-essex-real-estate-surviving-covid-19-measures-1.4888992?fbclid=IwAR31rhXL-Vq7P8AGWCxVrpIQiUHlJLN2ZefMdQGt4bXfXp5HoO2CRUaDdro

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  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    85 per cent of Canadian tenants paid April rent

    DESPITE CALLS FOR A RENT STRIKE, MOST TENANTS IN CANADA, ONTARIO AND TORONTO PAID RENT. BUT THE NUMBERS COULD BE WORSE COME MAY

    We're off to a relatively good start with tenants still paying their rents (so far) in Ontario. These challenging times should remind investors the importance of buying quality properties in good locations in order to attract quality tenants.

    https://nowtoronto.com/lifestyle/real-estate/april-rent-paid-canada-coronavirus/?fbclid=IwAR0PiRaB7jpCNmCIWnH5RAP4zrwsuo_hkuXFAnJ2RI78amnDSCOv2YKDY8Y

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  • Scott Innocente
    OP
    Real Estate Agent · Windsor, Ontario · Member since 2017 · 835 posts · 214 votes
    6y

    Coronavirus: Home sales down 14% in March compared to February

    THE NATIONAL AVERAGE HOME PRICE CLIMBED 12.5 PER CENT IN YEAR-OVER-YEAR TERMS, THE ASSOCIATION SAID.

    Though the NUMBER of sales dropped 14% (no surprise as many buyers and sellers are on pause), the average sale price still rose 12.5% year over year. We have not seen prices drop in Windsor, specifically, and we are still seeing multiple offers on properties listed $400k and under. 

    The supply/demand is still out of balance and I expect it to steepen once things get back to normal. All new construction is on pause right now and that new construction is what was mean to help ease the supply/demand imbalance.

    Investors should be looking for opportunities right now (as always).

    https://globalnews.ca/news/6820329/coronavirus-canada-home-sales-march-2020/?utm_source=AM640&utm_medium=Facebook&fbclid=IwAR1an51J9rHxKCIeiLdpt6fpVeWcUcccxka-r45QtsO9TME8Md1FJCPMAxk

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  • Andy Lo
    Rental Property Investor · Vancouver, BC · Member since 2020 · 8 posts · 1 vote
    6y

    @Taylor Martell

    Hey Taylor, I’m from Vancouver as well. Just wondering if you found anything in Windsor yet ? Any suggestions? Thank you

    0Reply
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