New Member Introduction - Toronto/New Brunswick

[Tyler Strang]

Hi my name is Tyler and I'm new to bigger pockets. I am currently living in Toronto and working in Chicago. I'm hoping to get into multi families and my goal is to have my first one by the end of the year. Saint John, New Brunswick is the area I am going to buy and am planning on using the BRRRR strategy depending on the property needs. Cheers

[Roy N.]

@Justin H.

I wasn't trying to scare you off Saint John.   As I said before, there is opportunity here, but there are also a lot of "cheap" old buildings whose locations are even of little value.

But you are correct, in the past months, we've seen a lot more "money from away" coming to town and buying buildings "site-unseen".   Initially they were finding deals (whether they knew it or not), but lately there are more and more properties being sold at prices they really do not justify {but they look like a steal compared to TO}.   We saw similar behaviour back in 2008/2009 when Irving was considering the construction of a second oil refinery.

@Tyler Strang - Know your criteria, limitations, budget and objectives:  Do you want (and are willing to pay for) updated buildings; tired, but rent-ready buildings; tired and desperate for love; or vacant properties?    Then find "boots on the ground in SJ" who know the city ... in the interim, feel free to bounce any seriously considered deals off me.

As a long-distance investor, I would strongly recommend you stay away from Indian Town (North end) .. there are a lot of "cheap" buildings there, but the prospects for the area are muted.