Finding Deals in Canada

[Daniel Ringwald]

Hello all

I am a Canadian who has lived in the US for the last several years. I am considering investing in Ontario in the future.

What methods, websites, lists etc. do you use for finding properties below market value?

Are there any loan programs similar to homepath/fha etc. that are available?

Any notable obstacles for a non-resident?

Any info is appreciated. Thanks!

MODERATOR: ANY OFFERS TO BUY OR SELL DEALS WILL BE REMOVED FROM THIS THREAD. PLEASE USE THE MARKETPLACE FOR DEALMAKING.

[Filipe Matos]

Hi Daniel,

Canadian market is in a very different situation than US, here prices have been increasing every year for probably 2 decades with very few exceptions, so prices are high.

There is almost no foreclosures, there is multiple offer situations with people offering more than asking price.

I have been investing in Toronto downtown in the last 7 years in triplexes and getting returns of around 15% cash on cash through buy in bad shape /renovate/rent/refinance which requires a lot of work and capital in the first year. Like it was said before, you have to create cash flow/equity.

According to my analysis, you get bigger returns on properties/buildings with more than 3 apartments.

I am now looking in Hamilton since there is a chance of more cash flow without doing anything.

Financing is important. The reason I am not investing in US is because I can buy with 20% down and get higher ROI than buying in US with 50% down or all cash. In some areas of Canada there is still a possibility of getting 5%/year appreciation even with insanely high prices.

I don't know what kind of financing you can get in Canada.

I think you are on a good track by staying in US.

Did you take a look in Buffalo? I heard there is a revival in some areas of the city like it's happening in Hamilton/Ontario.

Filipe