Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
New Member Introductions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago on . Most recent reply

User Stats

8
Posts
2
Votes
Colin Davis
  • Toronto, Ontario
2
Votes |
8
Posts

Eager to learn - from Toronto and looking to leave!

Colin Davis
  • Toronto, Ontario
Posted

I am born-and-raised in the incredibly expensive city of Toronto and am looking to buy my first home outside of the city in the next two years.  My initial thoughts are to get a second job as a labourer in some sort of renovation capacity in order to help build up enough for a down payment on a multi-family (3-4 unit) in somewhere like Pembroke, a small city with affordable multis and limited rentals available.

My partner is from Norther Ontario, so I wouldn't be opposed to going up North, which I understand is even more affordable.

Does anyone have any advice for Canada-specific first-time home buyers?  Any good books?  Is it still possible for us to pay 5% down on our first live-in multi or is that something exclusively American?

Cheers!

Colin

Most Popular Reply

User Stats

95
Posts
65
Votes
Aditya Soma
  • Real Estate Agent
  • Windsor, Ontario
65
Votes |
95
Posts
Aditya Soma
  • Real Estate Agent
  • Windsor, Ontario
Replied

Hello Colin,

Congts on making a decision to invest for better future 

I started investing after reading 2 books which helped me a lot 

1. Rental property investing by our @Brandon Turner

2. Real Estate Investing in Canada 2.0 by Don R. Campbell

About the cities I'm investing in Windsor ON, I see a great demand from rentals and it's not that tough to find a cash flowing properties in good/growing family rental neighborhoods.

Yes, in Canada you can get 5% down, I bought my first Duplex as primary resident 5% down. I think if your planing for 3 - 4 units it's 10% down - may vary based on leader 

good luck

Loading replies...