All Forum Posts by: Gary McGowan

Hi Hardik, 

Congrats on starting your journey into real estate investing! 

I would focus on educating yourself on everything Canadian Real Estate related. There are some great resources out there. I would start with the following book from Don R. Campbell, Real Estate Investing In Canada. It will teach you the fundamentals and create I'm sure many more questions for you :) 

FYI: When buying a property in Canada the only way to put less than 20% down is if the home is going to be owner-occupied. Investment properties require a min 20% down. After reading the book above I would connect with a mortgage broker that has a DEEP understanding of investment properties, (it should be their primary business and they should own some). 

Hi Menelaos,
Send me a pm, I would be happy to connect with Investor friendly Realtor. 

Gary 

As mentioned Canada does not LLCs. Some investors will have Corporations that own properties however it limits your financing options. 

https://housesigma.com/ in Ontario is pretty good. Otherwise, you will need to connect with an investor friendly agent 

Hey Connor! That can be a great area. I'm actually headed up to Wiarton next week for some Real Estate meetings. 

Happy to connect you with some locals. 

Hi Brendon, 

Air BnB in the area can be really lucrative. The issue at the moment is inventory and Lenders are backing away from short term rentals. They want longterm tenants or you will need to look at commercial financing. 

Hi Akash, I'm not too far from you! Live just north of Markham. Welcome to BP !!!

3 Bedroom Semi-Detached home in Oakville will typically rent for $3,000 - $3,500 (+ Utilities) per month. 

Great insight here!!! I would look at the GTA Secondary locations. Ontario over time will always provide appreciation. So if your long-term plan is to hold properties then appreciation will show up. A portion of my portfolio has been through 2 major dips and lots of Real Estate Cycles. I can tell you without "time" I would not be in the positive financial position I'm in now. (100% of my portfolio has been in Ontario)
 

The minimum down payment for investment properties in Canada is 20% down. As @Zorya Belanger suggested. Work with an Investor friendly mortgage broker.