Updated over 11 years ago on . Most recent reply
Newbie from Toronto, Canada
Hello there! My name is Prakash Amarasooriya. I`m 20 years old and from Toronto, Ontario, Canada. New to the real estate business but open-minded and willing to learn and put hard work in. I currently attend York University, and I am heavily involved with the school. Nice to meet you all and I hope I can learn a lot from everyone here!
Most Popular Reply
To label any market with broad strokes is a mistake. You need to look at markets by neighbourhoods and types of properties. There are certain areas that are leading the Toronto market but those locations would not be great investments areas however great areas to live in.
I feel you need to look at the micro market and compare that. You should never refer to any market as the "Canadian Real Estate Market" is about to tank. The fact is I don't know anyone that invests in the Canadian real estate market. I know investors that invest in Multi family properties in Barrie or I know investors that invest in duplexes in Whitby bungalows. Very Specific....
Durhram region, Barrie, Northern parts of York Region, parts of Hamilton and Kitchener/Waterloo are decent GTA investment locations. There are cities like Brampton and Vaughan which I would be very cautious because they are having issues with trying to enforce rental licensing. Both cities are so confused with it at the moment that they are not giving out licenses.
Cities like Newmarket, Aurora and Stouffville which have rental licensing are great. It does sound backwards to invest in a place where this is enforced. However it adds value to your properties and it is very easy to upgrade a property that does not meet the min requirements. Which actually follows the Ontario Build Code. If your properties do not meet the code you asking for fines anyways....