No Cash-Flow in Toronto? Need Advice
Hi there! My name is Brandon I am 18 years old and have a very strong interest in real estate investing.
I currently reside in Toronto, Ontario. I have been researching online and following the market for awhile now and I have come to the conclusion that Toronto is not a very good place for investors in 2016 since condos and SFM's are very expensive and rent is not able to cover your mortgage & expenses and give you a profit. I plan to save every penny I get during and after college for my first down payment on a property.
Recently i've been drawn to the idea of investing outside of the GTA and into Hamilton, London, St.Catharines etc. But since I would be investing into a market that I don't know it would be harder to do and may not be ideal for my first investment.
I have endless amounts of questions but my main need of advice is what should be my first investment? I am a fan of multi-family properties but they are just way too expensive in Toronto. If someone could help me with my situation that would mean a lot to me.
Thanks