Real estate wholesale in Canada? Anyone with experience?

Question

Luc Boiron · Answer

@Sina Amini I'm a full time wholesaler and flipper in the Toronto area. It's doable in Canada, but really not easy.

I've been buying rentals since 2007, went into flipping full time in 2016, and did my first 4 wholesales in 2017. Did 17 deals in 2017, 11 flips, 4 wholesales, and 2 long term holds. I didn't start with wholesaling though, and there are many people who want to start but never make it off the ground.

Guillaume D. · Answer

@Sina Amini Wholesaling is doable in any market, whether it's in the US or Canada. You just have to find enough good deals and this is where people usually fail. Finding great deals to wholesale is simple, but not easy. You have to invest a lot of time and a lot of dollars in Marketing, which 98% of people are not willing to do. Be careful when people tell you that it's not possible. People in Montreal tell me everyday that it's impossible to find good deals in our market. Well, I was still able to buy and hold more than 100 doors in less than two years, flip 15 houses, wholesale deals, etc. Plus, I'm not the only one doing it. Same thing with wholesaling. Good luck!

Omar Khan · Answer

@Sina Amini Apart from the reasons listed by @Thomas S. (esp. that even in the US it hardly works due to the high attrition rate), a big reason why it doesn't work (as a business, not as a one-off deal) is because of: 1) lack of density in most Canadian markets outside of GTA, Vancouver, Montreal and 2) house price are too high. Unlike the US, there are hardly any 30K houses in the 3-5 major MSAs.

But wholesale marketing is very alluring - $0 down, get involved in the RE "game" from home, etc etc.

Sina Amini · Answer

Thank you all!

Thomas S. · Answer

Wholesaling in Canada is not really realistic due to the much different real estate, banking and investing climate up here.

It is rarely successful statistically even in the US, less so up here.

Real estate wholesale in Canada? Anyone with experience?

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