Hi everyone! I'm at the beginning of my real estate investment journey in Ontario, Canada. I'm 27 years old and I'm finally making a high income that I'd like to use to invest, and start building my portfolio. I started reading books on rental property investing - but then realized that with the current state of the market in Ontario - it's pretty much impossible to buy anything at value, let alone under value, in order to build a cash-flow positive portfolio through renting.
With all the different real-estate strategies out there, it appears to me that it's not a good time to start with rental properties. What advice would you have, or suggestions, around where to get started in terms of investment strategy given the crazy hot condition of the market?
@Francis Beattie the biggest frenzy is in SFR, where you are going to be competing against emotional home buyers that are being whipped into bidding wars by overzealous realtors. There are opportunities in every market, but you have to pick a niche and know it inside and out. On this forum, you'll find people that specialize in MF, downtown Toronto condos, second tier cities, flips, etc. and I guarantee you that they are still active in their chosen niche. I personally don't invest in Ontario anymore due to restrictive rent controls, but there are still opportunities there.
Best to pick a market in Ontario that you are happy about and understand and then either house hack or look at it from a Buy and Hold philosophy as the appreciation will be worth the hold. Good Luck and I can advise details specifically on the markets of Kitchener - Waterloo, Cambridge and Guelph.