Hey all, just wondering if anyone has looked in to Northern Ontario here. Canadians seemed to have dogpiled in to Southern Ontario markets pushing cap rates and returns down. Yet, in Northern Ontario, you can easily find deals on the open market and slap on property management and still do way better.
Vacancy rates are currently lower in the north than Southern Ontario. Average rents in Sudbury are more than Vaughn now. You can still find some deals in North Bay. Sudbury is harder. Timmins they're everywhere. And there's a macro backdrop of a mining boom and federal investment in to critical minerals and mining.
This seems like a slam dunk to me. What am I missing? Where are the investors?
Im sure there are a number of reasons for this but northern Ontario is a bit harder to get any kind of alternative/private financing for unlike the horseshoe.
Rental Property Investor · Toronto, Ontario · Member since 2014 · 14 posts · 2 votes
2mo
Timmins is where you should focus. Its proximity to the Ring of Fire will increase the values of investment in the long term. You can get financing just like any major southwestern investments.