I'm a newbie investor in Winnipeg, Canada. I've been trying to analyze buy and hold single family properties for cash flow to the best of my abilities and for the most part, I think I have a good understanding of how to run the numbers but the one issue that makes it very difficult for me is when it comes to estimating rental income. Estimating how much rent I might expect to get based on the number of bedrooms, bathrooms, square footage, area and finishes seems to be an art form. As far as a know, "rent-o-meter" is a good tool used in the US but there aren't a lot of data points on the Canadian side that can give me a good starting point to work from, but maybe I'm wrong? I've been using Kijiji to look for comparables but there isn't always a lot of data to compare against for the specific type of home and area I'm looking in.
Do any fellow Winnipegers, Canadians, or anyone for that matter have any tips for me? I really appreciate the help!
You could try the rental market data collected by Stats Can and CMHC published on the CMHC Housing Market Portal
Thank you Roy, I will check that out!