I'm from Toronto and I was looking into real estate. I noticed BP is geared towards the states. Any resources or things I can start doing to learn?
Hello. I'm still new to this but reading through these forums and the material on this website is very helpful. The GTA is a tough market for real estate. Prices are high and rent will not likely break you even. It' best to look outside of the GTA.
I am a new Canadian investor from Vancouver BC and I run into the same problems as you guys. The GTA and GVA are very similar in being very tough markets, but the farther out you go the more likely deals will be available. For us here I am looking more into Abbotsford/Chilliwack, and potentially into Washington State. For you guys I've heard stuff in the Ontario forums about areas like Kitchener/Waterloo, Hamilton etc, maybe even east out towards Kingston. But the downtown cores are pretty jacked up prices!
If you come across any good Canadian focused resources I'd love to hear about them. I recently attended a REIN (real estate investment network) meeting here in Vancouver which was great, except they charge $200/month to join their group with a minimum 18 month commitment (erp). They recommended looking at the book "Real Estate Investing in Canada: Creating Wealth with the ACRE system", although I haven't read it myself.
REIN is the best Canadian real estate investment resource I am aware of. You can be a forum member, same as BP, without cost.
My advice is, if you are just beginning don't aim for GTA, it will be really difficult for you succeed in a market like this, so better start with something smaller than move up.
Lots of great Canadian real estate podcasts to continue your free education:
-Truth about Real Estate Investing...for Canadians
-Breakthrough Real Estate Investing
-Where should I invest? Real Estate investing in Canada
-Your Life Your Terms show
-Lifestyle Housing Radio (if you can endure the intro song)
That should provide more education than you can absorb in a year!
I also recommend Rock Star Real Estate as an alternative to REIN if you're in the GTA...they have a membership group, but also lots of free events for networking.
My focus is Hamilton and there's no shortage of amazing professionals,
resources, and events to launch your real estate career.
Hey Ian - welcome! Honestly the best resource is getting connected face to face or over the phone with active investors in your area. All this content is great, but truly will have your head spinning between deciding, markets, flips vs buy and holds, multi-family, student etc etc.
Just get started, talk to as many people one on one as possible. Get your financing looked at, see what's even possible and what obstacles could be overcome creatively or with some hard work.
With that said, feel free to reach out whenever to chat.
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