Canadian real estate market

11 Replies

Good day BiggerPockets community,

I'm a 25 year old Canadian looking to try to get into the real estate market. I've been reading about topics on the BiggerPockets forum, blogs, and whatever I can get my hands on. I've also watched hours and hours of videos and to be honest all the information is very valuable but it seems like it applies less to your favorite neighbours. I'm from Montreal and trying to start with flipping houses with a partner who is very handy. Now the Quebec market doesn't seem very interesting but are always open to start out of province. Do any of you guys have tips or any information to share with a newbie on how to succeed using this formula. FYI we plan on buying rental properties at some point and time as well and any help would be greatly appreciated!

Thank you,

Robert Damiano-Archambault

The key in any area of the world is finding a motivated seller. People are people and everyone has to sell sooner or later and most people are motivated for the same reasons. 

Best way to find motivated sellers is to purchase lists and compile lists for 60-90-120 days late on mortgage, pre-foreclosure, delinquent taxes, water cutoff, code violation, probate, divorce, high equity, etc. and mail or cold call. Other methods are driving for dollars, door knocking, wholesalers, craigslist, Realtors, FSBO sites, expired listings, foreclosure sites, put out bandit signs if allowed in your country, billboard ads, newspapers, other offline publications

You can use pay per click/adwords, facebook, Linkedin, Youtube, and other forms of online and social media and tv ads if you have the funds.

Bottom line is consistency. You need to take consistent focused action every day, answer the phone when it rings and follow up and follow through.

Originally posted by @Greg Dickerson :

The key in any area of the world is finding a motivated seller. People are people and everyone has to sell sooner or later and most people are motivated for the same reasons. 

Best way to find motivated sellers is to purchase lists and compile lists for 60-90-120 days late on mortgage, pre-foreclosure, delinquent taxes, water cutoff, code violation, probate, divorce, high equity, etc. and mail or cold call. Other methods are driving for dollars, door knocking, wholesalers, craigslist, Realtors, FSBO sites, expired listings, foreclosure sites, put out bandit signs if allowed in your country, billboard ads, newspapers, other offline publications

Greg:

Purchasing such lists does not fly in Canada, and not in much of Europe from my experience.   Due to tighter privacy laws, it would be both impractical to create and illegal to sell such a list. 

@Curtis Sharpe . New investor in Montréal as well. Not many of us here but you could also check out The Facebook page of les Mordus de l’immobilier if you’re looking for investors from Montréal. The only downside is that French is a must! Good luck at let me know if you want to bounce ideas! Cheers!

@William Lee awesome yeah I was really starting to get out in the investor community then covid hit, I always try to go to seminars now and I joined a few meet ups too. How long have you been investing for ? What's your strategy or goals? Are you from Montreal?

Yes I’m from Montréal but I it’s almost impossible to find positive cash flow multi-family rental properties here and the surrounding areas.  Trying to build a portfolio of multi-family rental properties.  I’m a newbie for sure but reading tons and still looking for great deals.  It looks like if I want to invest in this market I may have to change strategies or look to other markets for this.  How about you?