Any Investors in Ottawa, ON?

48 Replies

Hey @Rahul Bura and @Jim Pellerin

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!

Allen  

Hey guys @Haseeb Awan @Harrison D.

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:

https://www.meetup.com/Ottawa-Cashflow-Meetup/even...

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. 

@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. 

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

@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 !

Ottawa market is still undervalued.

@Haseeb Awan

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.

Thanks,

Chris

@Haseeb Awan

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.  

@Brook Azezew

But you have to pay capital gains + 5-6% in selling fees, so it wont be worth it. Just refinance them if you have built enough equity

@Chris S.

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.

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.

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?