Real Estate Agent · Ottawa · Member since 2018 · 10 posts · 2 votes
7y
@Tuan Pham, Sorry for the late reply i don't come on here too often
I use A-plus but might consider managing on my own in the near future
Most properties in the area appreciate after a reno as long as you follow a few rules: 1) There's a little "square" i recommend to avoid (Montreal Rd - 2nd st and McConnell - Belmont) 2) Know your numbers (reno, holding, resale) 3) Watch for places built between 1950-1980, some of those properties had no-corrode sewer lines... they corrode and it costs about 6-10K depending on how bad the pipe gets
Ottawa, Ontario · Member since 2015 · 34 posts · 12 votes
10y
That woould be great! I wonder how big the community is on here? Missed the OREIO event this month but maybe I could attent next month! Do you know of get-togethers that happen locally @Jim Pellerin and @Janek Koza?
I see this post is more than a few months old but I figured I would reach out anyways. I am brand new to real estate investing in Ottawa. Just wondering how you guys are finding the market and if you had any success in connecting with one another. Coffees on me if you are interested in getting together to chat. let me know!
Ottawa, Ontario · Member since 2016 · 5 posts · 2 votes
10y
I am just getting started in the flipping market, however, I already own a kitchen and bath design company and would be interested in working with those that have already begun.
I am helping to organize a Cashflow/Networking event here in Ottawa. Good opportunity to get out and talk/ask about real estate. And just to hang out with some like minded folks with food and drinks. It is coming up on October 4th. Hope you can make it. And feel free to invite others.
It's being organized through Meetup.com. Here is the link:
Ottawa, Ontario · Member since 2016 · 9 posts · 0 votes
9y
Hi, I just joined BP in hopes of getting some information on any seminars and meeting more people in the area that are new to investing. I still haven't bought my first property but have been doing the calculations on those for sale close by that I am interested in and everything is bringing in a low cash flow if any.
I was wondering if you guys typically buy in Ottawa core, or if you go more towards Kanata or Rockland area.
Investor · Ottawa, Ontario · Member since 2016 · 225 posts · 46 votes
9y
@Paige M. - It really depends on what suits your profile. Core is expensive obviously and the more father you go prices usually drop. It is purely personal interest and where you find the deal. But as they always say Location, location location so make sure you buy in a good area specially if its your first property.
Investor · Toronto, Ontario · Member since 2016 · 5 posts · 0 votes
9y
I live in toronto now and have a 2 condos I am renting now. I have a fulltime job and are new to realestate investing.
I am moving to Ottawa and been thinking about selling my properties in Toronto and buying a multiplex (2-4) units or single family in Ottawa and rent it out. I have a place to stay for relatively cheap. Is it possible to have positive cashflow? I know it was almost impossible to do this in toronto now just because of the high purchase price. Thanks
Investor · Ottawa, Ontario · Member since 2016 · 225 posts · 46 votes
9y
@Brook Azezew - What about your properties in Toronto. If they are cash flow, don't touch them. Every time you sell, you loose 6-7% . There are may properties in Ottawa that are cash flow +ive. I recently bought a 4-plex with double digits CoC !
I would love to hear more about this 4-plex you purchased! What area in Ottawa is it? Did you find it on MLS? Is it purpose built? Is your cash on cash return based off a 20-25% down pyt? Or were you able to change the use/ force the appreciation and pull cash out?
Any insight into this deal would be greatly appreciated.
Thank you for the advise. Of my properties in Toronto, both are cash flow positive. My plan was to use the proceeds from the sales to buy in ottawa. Also, the properties in Toronto are condos and I wanted to get out of condos and own single family or multiplex.
CoC is based off 3% rate with 20% down. Its in Vanier and found on MLS. I mightn't be able to pull cash for a year but certainly it would be appraised for much higher than I bought it for.
Ottawa, Ontario · Member since 2017 · 1 post · 0 votes
9y
Hey Everyone, new on here so will put some life back into this post. I am looking at a few options at the moment and would like someones experience comparing investing in Ottawa vs Across the river (Hull).
Would be great if someone could chime in their experience.
Accountant · Ottawa, Ontario · Member since 2013 · 55 posts · 12 votes
8y
Hey guys,
Is anybody still active on this forum? Other than the local OREIO meetings, I was wondering if there is a regular real estate/bigger pockets meeting in the city?
I'd like to bring this thread back to life! I've been investing in Gatineau and can give some insight based on my experiences in the area.
I'd be interested in hearing about your insights. I currently live in Toronto after recently moving from and selling 2 properties in the US and am looking for my next investments. I am looking for buy and hold rental properties with better cash flow than what I have been seeing in Toronto so far and am considering Ottawa.