Thoughts on the canadian market, podcasts on canadian RE and help
Hi there - I have been listening to the BP Podcasts and they are great! Some of my favourite moments are when Josh grinds the guests a little forcefully about actual dollars and profit. The problem is that every time I listen to one of the PC's I have the same recurring thought...it's really cool that you bought 83 houses or you started with 10K and now own a 66 MU, or you quit your tech job in a years....but it's just not like that in Canada. I've never heard of a $35,000 house or let alone a $95,000 house being a near possibility in Canada. I live in Burlington and I have invested in Hamilton - a city of about 500,000 people. In Burlington you cannot buy a house today for less then 400k - and with that number you are buying a tiny overvalued junker. You can't buy a townhouse for less than 1/2 a million. How do we as Canadians make these numbers work? It's nearly impossible to find a deal with no bidding
I have been sitting on hard cash (buying a house in any market within 400 km would costs $$$ to hold during renos) I've also looking for friends, partners, investors, contractors (I actually love doing the work myself) and would love nothing more to find someone as motivated as me but it seems like we are not in the same type of market as the US unfortunately - both from a legal and RE perspective. We don't have foreclosures, wholesalers or any of the sort here. We do have have tax sales, which are few and far between. How do you find the deals?
Anyways - Josh - would it be possible for you to try and rope in a canadian speaker to talk about working the BRRR with RE costs being what they are and the different landscape in Canada?
If anyone wants to chat - hit me up. But be motivated!