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Updated about 5 years ago on . Most recent reply

Aldo Gutierrez's profile image
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Aldo Gutierrez
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Aldo Gutierrez's profile image
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Aldo Gutierrez
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Aldo Gutierrez
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Canadian Real Estate

1% rule for BRRRR in Southern Ontario

Aldo Gutierrez
Posted

Hello folks

Looking to purchase a 2nd property for BRRRR but I'm wondering if anyone is still able to find deals in Southern Ontario anywhere that meets the 1% rule. With property prices north of $400k rent would have to be $4000/mo. Is BRRRRing still feasible?

Many thanks

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Hai Loc's profile image
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Hai Loc
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  • from Toronto, Ontario
  • Member since Sep 2, 2012

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Hai Loc
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Hai Loc
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  • Toronto, Ontario
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Hai Loc
  • Specialist
  • Toronto, Ontario
Replied

I just evaluated a condo townhouse in Sarnia and it came in at 0.67%..  Single tenant not gonna work. You need multi tenant converted duplex/triplex.. 

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