All Forum Posts by: Account Closed

Looking to make my first purchase of land on the country side of Northern Quebec, Canada. Wondering what kind of due diligence should I be doing? Some of it is water front and I’d like to build a cabin on the land eventually.

Does anyone know why the area of Magog in the Easter Townships of Quebec is so expensive compared to other small towns outside of Montreal?

Wonder if it has to do with proximity to the US border or maybe with Lake Memphremagog. Thanks!

@Axel Lafortune You can only depreciate on capital gains, so depreciation wouldn’t apply in your situation.

Hey guys,

I’m in Montreal which is a real tough market to find good multi family deals in. Even the outskirts are starting to be overpriced. That’s what got me looking even further out and i landed on Sherbrooke as a pretty attractive place to purchase some multi family.

So i’m wondering, has anyone looked into investing in the Sherbrooke area or has some properties in Sherbrooke? If yes, any thoughts and tips?

@Roy N.

Yes, and that would be the plan. It would not be my place of residence; but rather a short term rental property that i can bring the family to during the slow season.

I wonder how many days or weeks it would need to be rented out for to show the CRA it is in fact a short term rental property first and a vacation house second.

Hey guys,

I’m in Quebec, Canada and looking to purchase a cabin/country house for personal leisure purposes.

But I’m thinking; if I rented it out a let’s say 2 weeks of the year, can I claim the other 50 weeks of the year that it won’t be rented as losses and deduct all the expenses? I figure if i can do that, the country house would be almost free for me to use the 50 weeks of the year.

Am i totally off here or can this work? Let me know your thoughts. Thanks guys. :)