Rental Property Investor · Calgary, AB · Member since 2019 · 9 posts · 4 votes
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.
Rental Property Investor · Charlottetown, Prince Edward Island · Member since 2017 · 25 posts · 8 votes
7y
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!
Rental Property Investor · Charlottetown, PE · Member since 2019 · 3 posts · 1 vote
7y
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.
Realtor · Charlottetown, PEI · Member since 2018 · 7 posts · 4 votes
7y
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.
Rental Property Investor · Red Deer, Alberta · Member since 2018 · 10 posts · 1 vote
7y
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.
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!
Rental Property Investor · Charlottetown, Prince Edward Island · Member since 2017 · 25 posts · 8 votes
7y
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!
Rental Property Investor · Charlottetown, Prince Edward Island · Member since 2017 · 25 posts · 8 votes
7y
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!
Rental Property Investor · Charlottetown, Prince Edward Island · Member since 2017 · 25 posts · 8 votes
7y
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!
Cornwall, PE · Member since 2017 · 4 posts · 0 votes
7y
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.
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
Realtor · Charlottetown, PEI · Member since 2018 · 7 posts · 4 votes
6y
@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.
Rental Property Investor · Grimsby, Ontario · Member since 2017 · 7 posts · 0 votes
6y
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.
New to Real Estate · Member since 2020 · 5 posts · 2 votes
5y
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!
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?
Rental Property Investor · Charlottetown, Prince Edward Island · Member since 2017 · 25 posts · 8 votes
5y
@Jeet Patel
Hey guys. We haven’t had a meet up recently, with Covid restrictions it made it hard to get together. However once restrictions relax a bit I hope we can start getting together again.