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
Athlete/Investor · Squamish, British Columbia · Member since 2015 · 29 posts · 15 votes
8y
Kate, Happy to fill you in on the area. I invest on in Gatineau (the Aylmer area) which is on the Quebec side and is much easier to find cash flow property than in Ottawa.
The rental market has improved significantly in the recent year and you can find turn key properties that yield 5-6% cash on cash return. Or with some digging you can find some 10% CoC returns but you have to be willing to put the work into these properties and be ready to jump on them. So far I have found everything on the MLS.
Rental Property Investor · Ottawa, Ontario · Member since 2018 · 52 posts · 13 votes
8y
Thanks for sharing your thoughts so quickly, Matt. I was not aware of Gatineau and now see on a map that it's across the river from Ottawa in Quebec. Are there any tax issues with owning rental property in Quebec when you live in a different province? I will be living in Ontario for at least the next few years and see you are in British Columbia.
Why is it easier to find cash flow property in Gatineau than in Ottawa? Is it because prices are lower or rents are higher? And what are the demographics of renters in Gatineau and how is the demand for rental housing? One good thing about Toronto is there are always people coming for job opportunities and it's a top destination for immigrants, so there is no shortage of renters who are working folks with decent income, as well as students. It's just too bad that property prices are too high relative to rents which results in too little cash flow.
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.
Definitely interested in getting in touch with you. I live in the area and am in the process of closing on my first property and looking to grow into full time investing in the future.
I currently work for a REIT and I've got some property management experience.
Hi - just introducing myself to the Ottawa investors. Not a new RE investor, but new to Bigger Pockets platform/forums. I've done a mix of local conservative buy/hold, and some remote mult-plex which are completely different risk profiles. Although I live in Ottawa, not that interested in investing my capital here - perhaps a bit due to diversification, but also simply the returns are much higher outside city limits. (opportunity cost) My Ottawa rental condo is by far the worst performing asset even though I've got great tenants and good/solid market rents. Hull/Gatineau is one option, but I've avoided it and prefer sticking to Ontario side - if you take a look at towns/communities within 1 hour outside Ottawa, there are tons of low cost, high/market rent opportunities to grow your portfolio. (Pembroke, Petawawa, Smith Falls, Carleton Place, Hawksbury, Rockland, Kemptville, etc.
Petawawa, Ontario · Member since 2017 · 6 posts · 0 votes
7y
Hey @Kevin Marshall, how's it going. I'm in Petawawa, pretty new to investing in real estate. I bought my first duplex this year, in Pembroke, fixed it up myself and is currently rented out. I currently own a house in Petawawa but am looking at getting rid of it next year and buying a property that I can house hack instead. I intend on buying more small multi-family properties around here and am also interested in learning about larger commercial multi-family properties. I haven't met too many other investors around here, so it's great to be able to talk to someone local.
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.
Definitely interested in getting in touch with you. I live in the area and am in the process of closing on my first property and looking to grow into full time investing in the future.
I currently work for a REIT and I've got some property management experience.
Newbie here, living near Ottawa. I’m from the US, married to Canadian woman. Gatineau interests me, and I wonder if the lack of French fluency would make investing there problematic. Any insight is welcome. Thanks.
Newbie here, living near Ottawa. I’m from the US, married to Canadian woman. Gatineau interests me, and I wonder if the lack of French fluency would make investing there problematic. Any insight is welcome. Thanks.
I don't foresee it being that big of a problem.
The Ottawa-Gatineau region is as bilingual as it gets in Canada and I'd say 70% of the population in Gatineau are bilingual or can hold basic conversations in English. In Aylmer and Hull, you're looking at almost a 50-50 split of English speaking residents and French speaking residents. If you move up further North-East towards Gatineau, Masson and Buckingham you're looking at a predominantly French speaking population but still most people can hold conversations in English in the Outaouais region.
Real Estate Agent · Ottawa · Member since 2018 · 10 posts · 2 votes
7y
Hey @Kevin Marshall, have you looked in the Cornwall or Morrisburg area? I purchased a 6 unit last year with around a 7.5% cap and just purchased a duplex, which i will reno and refi. That should see about a 9% cap. If you would like more info on this area let me know, id be happy to help. Do you do large multi units?
Ottawa Ontario, Canada · Member since 2018 · 12 posts · 7 votes
7y
Hey @James McCune , I'm looking to invest in Cornwall. I've gone to see some properties and they all require rehab work. Do the properties appreciate after rehabbing in Cornwall? Do you have any property managers in Cornwall you would recommend?
Developer · Ottawa, Ontario · Member since 2019 · 105 posts · 58 votes
7y
Newbie here in Ottawa, haven't introduced myself yet. but I was wondering @Tuan Pham how your introductions to REI went here in Ottawa. Are there any events, gatherings here in the city you would recommend for someone who wants to get started. My plan is to have my first property in the next couple months and grow from there.
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
Rental Property Investor · Ottawa, Ontario · Member since 2019 · 1 post · 0 votes
7y
Hi everyone! Wanted to introduce myself as a new member to BP though have been following the forum and listening to podcasts for a short while now.
My boyfriend (CPA accountant) and I live in Ottawa, Ontario and have 2 rental properties here in the city. We follow the BRRRR strategy and have recently been looking into conversions from single family home to duplex.
Specialist · Toronto, Ontario · Member since 2016 · 564 posts · 425 votes
7y
Great to see several investors in the Ottawa area. I've recently expanded my wholesaling business from the GTA and I'm now wholesaling in Ottawa as well. A bit of a different market but lots of opportunity.
Just wanted to introduce myself. I am located in Ottawa and I am just beginning my real estate investing career. I've been bringing myself up to speed on real estate investing over the past couple of months and i'm excited to get my feet wet while continuing to work my full-time job for the time being.
I've built up a decent sized stock portfolio over the past few years which is now pretty much on auto-pilot. Now, i'm looking to diversify my income through rental property.
I just wanted to say hello to you all and hope to be able to contribute to this forum in a meaningful manner in the not too distant future.
I just joined the site and I was wondering if you had any tips on how to do a background check with potential tenants coming from Ontario ? I own 19 appartements in Gatineau (5,6 and 7-plex) and with the price increase in Ottawa, I have a lot of interest from people coming from Ontario. Obviously it's great and it drives the prices up, but I was a bit unlucky with some tenants coming from Ontario. In Quebec, I always do a background check at the Régie du Logement's website, but I haven't found the equivalent in Ontario.
Also, let me know if you have any questions about investing in Gatineau.
I just joined the site and I was wondering if you had any tips on how to do a background check with potential tenants coming from Ontario ? I own 19 appartements in Gatineau (5,6 and 7-plex) and with the price increase in Ottawa, I have a lot of interest from people coming from Ontario. Obviously it's great and it drives the prices up, but I was a bit unlucky with some tenants coming from Ontario. In Quebec, I always do a background check at the Régie du Logement's website, but I haven't found the equivalent in Ontario.
Also, let me know if you have any questions about investing in Gatineau.