All Forum Posts by: Cody Neustaedter

Hi Michael! What type of property are you looking for? I know that @Zorya Belanger invests out of Edmonton and has a couple of different agents depending on the asset class.

Hi @Aditya Bhate! Welcome to Biggerpockets! In terms of cashflow for both residential and small MTF, I have found that your best bet is the prairie provinces. You can make it work in other provinces but Alberta, Saskatchewan and Manitoba seem to be where most investors are moving if they want to invest in Canada. I work out of Winnipeg as an agent and there is still deals to be found here but the neighbourhood is extremely important as some places are considered "warzones". Cheers!

I wanted to highlight some information that I think goes against what a lot of Canadian news outlets are portraying. I want to be upfront that this in no way is a prediction for what prices are going to be like a month from now, or 3 months from now, but I still think the long term outlook for Canadian real estate, specifically in multi-family space, will continue to appreciate significantly over the next few years. 

Canada has the lowest number of homes per 1000 people among G7 countries. Coming in at 424 homes per 1000 people. Meanwhile, Canada has committed to taking in roughly 500,000 immigrants per year from now until 2025 (1.5 million total). The issue of supply in Canada is going to remain for a long period and while this may be unfortunate for the first time home buyer, it is very beneficial for multi-family investors who are going to provide affordable housing to our increasing population. The inventory problem in Canada is going to get worse. This will cause rents and appreciation to continue to grow.

Feel free to interpret the information differently but I just wanted to share some positivity in what seems like a doom and gloom market right now.

I have several condo's in Winnipeg and there are still opportunities to cash flow here. The type of tenant you put in your property is critical and similarly the area you buy in can have a serious trade off for high cash flow but the investing becomes much more active.

If you want to get close to the 1% rule you will need to look into the prairie provinces or smaller cities. Winnipeg, Saskatoon, Lethbridge, are good examples of some places in each of the prairies that you could maybe get 1%. You will not see near the appreciation that you would in the GTA or the Vancouver market though.

You bet! Invite your friends who are interested as well! 

Just a reminder to anyone planning on attending the meetup in Winnipeg it starts next Monday starting at 7pm at Underdogs sports bar! We have a separate space booked in the back!

Wow that is an amazing deal if you can actually get those rents. Typically properties in Canada don't touch the 1% rule but this would exceed that. Are you rehabbing any parts of the property?

 I will take a look! Thanks for the suggestion!

Does anyone know any cleaning companies or property managers that work out of the Whiteshell and/or lake Winnipeg. Looking to get a cabin STR going and I would need some local support. Thanks in advance!