PEI Real Estate Networking
27 Replies
Brad Cote
Rental Property Investor from Calgary, AB
posted about 2 years ago
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.
Brad
Martine McMillan
Rental Property Investor from Charlottetown, PE
replied about 2 years ago
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.
Brad Cote
Rental Property Investor from Calgary, AB
replied about 2 years ago
Nice to meet you Martine! I am curious how your flip went in Ontario? I will send you a PM.
James Marjerrison
Realtor from Charlottetown, PEI
replied about 2 years ago
Hey Brad,
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.
Cheers,
James
Sean Campbell
Rental Property Investor from Red Deer, Alberta
replied almost 2 years ago
Hi Brad
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.
@James Marjerrison and @Martine McMillan would love to connect with you to.
Matt Duffy
replied almost 2 years ago
Hi all!
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!
Adam Dow
Rental Property Investor from Charlottetown, Prince Edward Island
replied almost 2 years ago
Hey 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!
Matt Duffy
replied almost 2 years ago
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
Adam Dow
Rental Property Investor from Charlottetown, Prince Edward Island
replied almost 2 years ago
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.
Adam Dow
Rental Property Investor from Charlottetown, Prince Edward Island
replied almost 2 years ago
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!
Matt Duffy
replied almost 2 years ago
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!
Adam Dow
Rental Property Investor from Charlottetown, Prince Edward Island
replied almost 2 years ago
Sounds good Matt, look forward to meeting you.
Adam Dow
Rental Property Investor from Charlottetown, Prince Edward Island
replied almost 2 years ago
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!
Craig Rout Gallant
from Cornwall, PE
replied almost 2 years ago
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.
Soubhi Abla
replied almost 2 years ago
Hey guys,
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!
Adam Dow
Rental Property Investor from Charlottetown, Prince Edward Island
replied over 1 year ago
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!
Danny Godbout
Wholesaler from Pictou County, NS
replied over 1 year ago
I'm in New Glasgow if anyone ever wants to meet up for coffee on this side of the ferry.
Jagdeep Singh
replied about 1 year ago
Hey @Adam Dow and all other Charlottetown investors hope everyone is doing great just wondering if we are still doing these meetups. Or is there any active group where we are doing more discussion about the investment in Charlottetown
James Marjerrison
Realtor from Charlottetown, PEI
replied about 1 year ago
@Jagdeep Singh yep, we try to meet the first Tuesday of each month. We have a FB group called PEI Real Estate Investors if you’d like to join and stay up to date.
Jagdeep Singh
replied about 1 year ago
Hey thank you @James Marjerrison will start following the group
Chuck Jerome
Rental Property Investor from Grimsby, Ontario
replied about 1 year ago
Hi Everyone, my wife and I have one SFH in West Covehead and are looking to invest more in Charlottetown with secondary suites. We live out of province but visit often with family on the island. Our plans are to retire on PEI.
Adam Dow
Rental Property Investor from Charlottetown, Prince Edward Island
replied about 1 year ago
Sorry for the late reply. Yes as James said we do try to meet monthly. Hope to see you at a meetup soon!
Himanshu A.
New to Real Estate
replied 5 months ago
Hi Everyone, I am also interested to look at some properties to invest in PEI province and would like to connect with some experienced and like-minded people. I am also wondering if the monthly event up is still happening of course online :) Please let me know. Thanks!
Steve Dimond
Developer from Prince Edward Island
replied about 2 months ago
Land developer interested in connecting. P.Eng. & Gold Seal Certified Road builder ...Cdn Construction Assoc.
be well all ! Cheers, Steve D.
Updated about 2 months ago
Looked for PEI Real Estate Investors On Facebook .... to no avail !?
Updated about 2 months ago
Looked for PEI Real Estate Investors On Facebook .... to no avail !?
Jeet Patel
replied about 1 month ago
Originally posted by @Adam Dow :@Jagdeep Singh
Sorry for the late reply. Yes as James said we do try to meet monthly. Hope to see you at a meetup soon!
Hey @Adam Dow,
I just came across this thread. I am trying to get started in real estate in PEI as well, hoping to network with like minded people like you guys. I have investing background in stocks mostly but trying to get started in real estate now. I was wondering if you were still meeting virtually?
I'd be very much interested, Please let me know.
Thanks in advance!
Jeet