Hello fellow Canadian REI'ers!! I'm a complete noob that is very excited to get my feet wet eventually once I have enough saved up for a down payment on my first house hack. The concern I bring to this post today is that people on BP talk about direct mail marketing nonstop and how powerful of an acquisition strategy it is. There's absolutely no deals in my local market on the MLS as I'm sure is the case for many many markets in this current climate, so I'm left with having to obviously search for off market deals. In Canada, what is the best strategy for doing this? I was told by a local investor colleague of mine that we aren't legally able to get lists like our American neighbours are, in this case how do we pursue direct mail? I know I could obviously door knock but any other strategies? Any tips on this or anything involved with finding your first deal that's not $300K CAD would be very very much appreciated!
Nick Smith of London Ontario
Hi nick. One way I’ve looked at doing this is going direct to Canada post. They’ve got a way to print and mail all in one step and it’s pretty cheap.
I live here in London, and last year I picked up two properties. One was on the MLS I feel like I got an amazing deal and was able to scoop it up with no other offers on the table
Some times you just need to be patient other times you might have to look at a nearby market that is less expensive. While your budget maybe $300K, look for something that is good to buy. Ie a dump in a bad area for $300K is not going to be worth the headaches that come with it. You might be better off with a place a short drive away that is in better condition and in a better area.
I have rentals in another town that someone helps me manage (not a PM in this case). I also have one rental that a PM handles.
@Tyler Stiller oh wow! Thank you so much for the tip. Also great to see you’re so close to home! We should definitely connect.
Live in North Bay and we have lots of opportunities here under 300 k if you want to chat give me a call
You can get access to the land registry as well as use paid services like Costar to get lists of owners in Canada.
Hi Nick, I realize this has been posted a while, but thought I would jump in as I uunderstand your frustration. I live in Cambridge an hour away from London but own several properties there. Be persistent and you will find something. I have picked up pocket listings from realtors and a property from a wholesaler. You could find some wholesalers in your area and get on their mailing list. But be ready to act fast as everything gets picked up instantly in this market.
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