All Forum Posts by: Chris Baxter

Thanks for the update @Jordan Perry ... that leaves us with 5 provinces that have no rent control... 

@Sahil Agnihotri  NB is one of 6 provinces that do not have rent control (NS is also one). When coupled with fair landlord  / tenancy board rules, this makes it 'landlord friendly'

Option 4: 5% down on SFR that you occupy. Live in the basement suite, Rent the main area. No room mates... seperate legal living areas. Check out CMHC resources for first time home buyers: https://www.cmhc-schl.gc.ca/en..

Thanks for sharing the story @Leon Doucette, and welcome to BP!

@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.

@Jason Dasanjh Ontario is subject to provincial rent control, so rents stagnate (barely keep pace with inflation at best) while expenses increase. If you end up with a long term tenant, you quickly fall behind market rents, so banking on rents rising is an unrealistic strategy. 

@Kyle Madden  welcome to BP.  Investing out of town isn't a huge issue as long as you take the time to build and vet the team that will be your boots on the ground. I would also strongly advocate  that you go to your chosen market and stay there for a few weeks to get the lay of the land. 

I'm not a fan of your strategy of dumping $300k into a starter home as a long-term hold. Are you planning on refinancing to pull your equity back out? You'd be better off using $200k down on a larger property (possibly a MF) and adding value with the rest of your cash. REI is all about leverage. Cash purchases are for flip or riskier deals.

@Francis Beattie   don't let FOMO drive investing decisions:

I'm worried I might be missing an opportunity to get a very high return.

Per @Ryan Kenneth's suggestion, here is the link to Manitoba's property assessment portal:

https://www.gov.mb.ca/mao/publ...

It appears to be live year-round and shows recent sales history for properties in your chosen neighbourhood