Looking for insight into Moncton neighborhoods. Areas to avoid? Areas with the best tenant profiles? Single family (if the numbers are right), duplex to fourplex. First time posting, so please advise if more info is needed to answer. Thanks!
Rental Property Investor · New Brunswick · Member since 2019 · 2 posts · 1 vote
6y
Moncton North has the greatest growth over the last few years. It is why they chose to build a second YMCA in that area and a new middle school. The neighbourhoods off of St. George street might give you some deals, the city is attempting to grow businesses in that area, right now it’s a little rough.
Rental Property Investor · Port Coquitlam, BC · Member since 2017 · 520 posts · 527 votes
6y
@Account Closed It's tough to answer your question without understanding your investing goals. A 'bad' neighborhood to one investor might be a sweet spot for another investor. Your profile doesn't mention where you are from... are you going to invest in Moncton from elsewhere?
Investor · Ottawa Canada · Member since 2019 · 6 posts · 1 vote
6y
I am interested in investing in Moncton property from afar. Am looking for recommendations on property management in Moncton. I have great management for properties in Woodstock but they do not serve Moncton area.
Thanks for your reply Chris. Good point about my profile. I will update it! I'm in Ontario. Investment goals are long term buy and hold. Looking for something close to turn-key that will attract good tenants. For a duplex I'd like to cash flow around $300-400 a month. I'm trying to figure out if this exists in Moncton or if it's unrealistic. I've seen some properties that seem to fit, but I'd like a better understanding of the neighborhoods. I will work with a realtor, but like to get a variety of opinions in a forum such as this.
Larry, I've been speaking with Jeff Murray from Canada Homes for Rent Property Management. They are based in St John, but provide services in Moncton as well. I don't have properties in Moncton (yet), but he's been a great help to me and i believe would be a good place to start.
Investor · Ottawa Canada · Member since 2019 · 6 posts · 1 vote
6y
I am interested in investing in Moncton property from afar. Am looking for recommendations on property management in Moncton. I have great management for properties in Woodstock but they do not serve Moncton area.
Rental Property Investor · Port Coquitlam, BC · Member since 2017 · 520 posts · 527 votes
6y
@Larry Morehouse @Account Closed I use Ground Floor property management; they manage 1,000+ doors in Moncton, including 28 for me (6 and 22 units) and have been quite good. Let me know if you'd like an introduction to Tony, the business owner.
@Account Closed I don't have any experience with duplexes in Moncton (just bigger properties, where we do cash flow >$200/door per month). The best properties (with good cash flow) never go to MLS / Realtor.ca. Best advice would be to get down to Moncton, stay a while, build a team (you really can't do this remotely) and pick a realtor that specializes in working with investors.
Rental Property Investor · Ottawa, ON · Member since 2019 · 6 posts · 1 vote
6y
@Chris Baxter
Thats so true. I have been looking for over 6 months and as you said the good properties by the time they do hit the market they already have an offer. Having tough time finding any multi-families that are really worth it.
If you have advice or connection on who to talk to. That would be great help.
@Account Closed I'm also from Ontario and, similar to what you described above, I am also interested in investing in Moncton. I'm wondering if I can direct message you for an update as to your research / investment since?
Banker · Nova Scotia, Canada · Member since 2018 · 83 posts · 59 votes
5y
I have had some success in Saint John and Fredericton, but Moncton is very inflated right now and is drawing a lot of attention from out of province investors, and people looking to move to where the cost of living is much less.
I have been working with a real estate agent from Moncton that is fantastic. Anyone who needs an agent feel free to PM me and I will happily share contact details.
I am a licensed Mortgage Associate in New Brunswick and would love to provide any support you need in making your purchase. Feel free to reach out to me anytime.
Hi everyone. Looks like I'm late to this party. Just wondering if any one has had any success in either Saint John or Moncton in the multifamily space?
I've reached out to Canada Homes for Rent. Would you folks still recommend them?
Banker · Nova Scotia, Canada · Member since 2018 · 83 posts · 59 votes
4y
Hey @Larry Chan, I have apartment buildings in Saint John and other parts of NB, and have been looking in Moncton for a while. The prices in both areas have raised quite a lot in the last 2 years, however, Saint John still has some good deals out there. Its a lot harder to find good cashflow in Moncton.