Getting Started in the Ontario Market?

Question

I live in Toronto and am extremely interested interested in getting started with real estate. Myself and 2 friends (we're all early 20's) want to go in on a joint venture putting 20-25K down each.

Toronto and nearby areas are obviously too expensive. I've looked into doing student housing in Hamilton, Peterborough, St. Catherines Etc. and I haven't found anything really that would be cash flow positive. My first question would be - is this the reality for investors in Ontario with less than 100K to put down?

Also I noticed Windsor prices are much cheaper and after running some numbers I think we would be cashflow positive there but I am worried that this is too far a distance (4hours).

Would working with a property manager in Windsor as a Toronto investor be too much (risky) for first time investors?

Thanks!

Scott Innocente · Answer

@Chris Stubbert they pop up every now and again.

Nicole Martin · Answer

Hi Adrian, first congratulations for wanting to put your $$$ into real estate at your age, very smart move. I am new to the forum but can see that there is a wealth of information and open minded individuals willing and wanting to help one another (love that). I can see that Scott Innocente has already made contact with you, he is one of the go to for Windsor as I am seeing so far.

My advice to you and your team would be to take in as much information as you can, network with experienced investors, always be honest and open with your friends/partners, make sure everyone for the most part is on the same page and doing their part. I wish you and your friends the best of luck.

Chris Stubbert · Answer

@Scott Innocente How the market for 6+ multiplex?

Scott Innocente · Answer

@Adrian Halford plenty of opportunity here in Windsor within your range of affordability.  DM me if you'd like some more information.

Patrick Archer · Answer

I put $100k down on a 4-Plex in London Ontario less than a year ago.  Purchased the place for $500k.  It’s definitely possible.

Getting Started in the Ontario Market?

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