Looking to connect with other Prince Edward Island investors.
The PEI market has been very interesting over the past few years. The average home price has increased 35+% over the past 5 years, supply has dropped significantly over the past few years as demand has grown. Rent controls, foreign investment, Airbnb; there are a lot of hot topics to discuss in this market.
I am hoping to network with other investors in this market, and am actively looking for deals and opportunities in the Charlottetown/Stratford/Cornwall areas. Looking for SFH, multifamily, and commercial properties.
Hi Brad. I’m just getting into real estate investing myself. Did a flip in Ontario but have returned to PEI to get settled here. Hoping to invest in some rental properties here. Will be good to get connected with others interested in PEI real estate investing.
Nice to meet you Martine! I am curious how your flip went in Ontario? I will send you a PM.
I'm a Realtor on PEI. I'm also an investor who's just starting out. I currently have a suite in my own house that I rent out and I also own an Airbnb with my parents that we bought using the BRRR strategy.
It's great to see you're interested in the market on PEI. It's still very much a seller's market but I do come across a gem every once in a while.
The vacancy rate in Charlottetown is around 0.3% right now. But from what I've seen, the rent controls aren't allowing for rental prices on SFH to increase to the point where you can make them cashflow. SFH investors seem to be making their return by flipping their properties since inventory has been so low.
Multi-family cap rates are around 6% but they're a bit higher in surrounding areas like Montague and Summerside and the vacancy rates still seem to be quite low.
Anyway, thanks for starting this thread. It's great to get connected with other like-minded investors in the area.
I am a Mortgage Broker and investor in Summerside, I currently have 4 SFH and Duplexes that I rent long term and a SFH in New Glasgow that I'm using a long term flip/cheap place to live. Always looking for more like minded people and opportunities island wide.
I'm living and investing in Charlottetown and am looking to grow my portfolio of small multifamily properties. I currently have two duplexes and am looking at acquiring the next property soon -- hoping for a 3-6-plex with plenty of room to force appreciation and BRRRR into deal 4, fingers crossed. I'd love to connect, invites inbound everyone!
Glad to see a PEI thread has started. I am from Charlottetown and bought my first duplex in 2013. I had a total of 3 duplexes plus my house at one point and then decided to sell two of my duplexes to raise some cash. I am reinvesting those proceeds into my next project which is a 6 unit seniors townhouse in Cornwall. We should be breaking ground any week now.
I am also working on getting a PEI real estate networking group going. I was thinking we could meet once a month or once a quarter and it could be a good way to meet lenders, investors, brokers, realtors, partners etc. At the very least it's a good excuse to get out for a drink/coffee and learn from everyone else's experience. If anyone here is interested, please let me know!
Yeah Adam Dow, I agree I think it'd be great to meet up in person! Let me know when you have a date in mind
Hey @Matt Duffy I am looking at Friday, June 7, maybe at 7 pm? Anyone else who is interested, let me know if this date and time works.
Hey everyone. Slight change of plans... the inaugural PEI Real Estate Investors Group (anyone have a better name suggestion?) will be held June 13 at 7 pm at Upstreet. We have a table reserved for us there. Please RSVP to me directly or just comment on this thread if you are coming so that we can track numbers of attendees. I have been talking to a few others and it seems like there is some interest to get something more formal going, so if you can't make it this time, I am sure this will be a regular occurrence. Thanks!
Hey, thats great! I've got a conflict at 7, but I'll stop in around 830 in case anyone is still around.
Looking forward to meeting some of you in person!
Sounds good Matt, look forward to meeting you.
Not sure if this message will reach you guys in time but just a heads up, Upstreet called me and said they have an event booked for 8 pm. We still have a table reserved for us but I am letting people know and suggesting that if you can come for 6:30, that would be great as it gives us a bit more time. Sorry for the late notice but I just found out myself. Hope to see you all there tomorrow!
I own a duplex and a SFH in downtown Charlottetown. Actively looking to purchase more owner occupied SFHs in the downtown core to convert into short-term rentals that will be serviced by our cleaning company. I'd love to attend to the meetup Thursday but I am unable due to work-related obligations.
I'm a Mortgage Broker in Charlottetown, and looking into getting into investing myself in the next little while.
I'd love to go to the Meet Up, @Adam Dow , count me in!
Hey guys. Bit of a late notice but our next meetup is this Thursday, July 15 at 7:00 at Upstreet. Hope to see you all there!
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