{"id":18349,"date":"2021-08-09T11:11:00","date_gmt":"2021-08-09T18:11:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=18349"},"modified":"2021-08-05T08:58:01","modified_gmt":"2021-08-05T15:58:01","slug":"how-to-invest-in-canadas-3-major-cities","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2021\/08\/how-to-invest-in-canadas-3-major-cities\/","title":{"rendered":"How to Invest in Canada&#8217;s 3 Major Cities?"},"content":{"rendered":"<p style=\"text-align: justify;\">Real estate investing is contingent upon a slew of factors, all of which are unique to their locales. In a chat with CREW, the Real Estate Investment Network (REIN) shared its insights into how to invest in Canada\u2019s three biggest cities.<\/p>\n<p style=\"text-align: justify;\">Greater Toronto Area<\/p>\n<p style=\"text-align: justify;\">Price points in Toronto\u2019s core have been exorbitant for years and they\u2019re only getting worse, which makes finding cash flow positive properties very difficult. Jean-Guy Francoeur, REIN\u2019s chief growth officer, says that, in addition to identifying a market just outside of the GTA, investors can make the numbers work by adding suites to the property.<\/p>\n<p style=\"text-align: justify;\">\u201cA great tactic right now is choosing a region that\u2019s strong economically and buying a single-family home, which yes, appears expensive, but once you add in a suite or a garden home, those properties cash flow very well,\u201d he said. \u201cTake Peterborough, for example, where we\u2019re seeing this a lot, or Orillia or Barrie. These are phenomenal strategies.\u201d<\/p>\n<p style=\"text-align: justify;\">Francoeur added, \u201cYou might even take a duplex and add a garden home. Investors only buy properties with lots over 7,000 sq ft to add a garden home down the line. By the time you add a garden home to a duplex, you have three units and it will cash flow very well.\u201d<\/p>\n<p style=\"text-align: justify;\">Investors are bullish on Toronto\u2019s condominium market again now that COVID-19 inoculation is spiking and the pandemic appears to be nearing its conclusion. As such, investors are anticipating the floodgates open and for immigrants to pour into Canada in record annual numbers.<\/p>\n<p style=\"text-align: justify;\">Not so fast, warns Patrick Francey, REIN\u2019s CEO. He noted that there were only 17,000 permanent resident admissions in May, putting Canada on pace for 100,000 in 2021\u2014roughly a quarter of its 401,000 target. And while condominiums might be considered entry-point housing, it takes more than chump change to buy one.<\/p>\n<p style=\"text-align: justify;\">\u201cWe want to see an immigration number that isn\u2019t happening yet; it\u2019s talked about and a lofty goal by our federal government, but we\u2019re not even close to that yet, so as investors, we have to consider the fact that borders are still not open. As much as we\u2019re optimistic that they will, we don\u2019t know that they will,\u201d said Francey.<\/p>\n<p style=\"text-align: justify;\">He added that until there\u2019s clear indication from the federal government that Canada\u2019s growth plan is back on track, investors shouldn\u2019t presume that it will be.<\/p>\n<p style=\"text-align: justify;\">\u201cWhen we talk about speculation, are the borders going to open? We don\u2019t know, and I don\u2019t think anybody really knows. We\u2019re talking about opening up the U.S. border, but now we\u2019re looking at our border officers going on strike, and that\u2019s going to choke things. Then there\u2019s a lag time with all those things that take time to reopen. If you buy a condo today thinking that by the end of the year there will be a couple of hundred thousand new immigrants in the country, it won&#8217;t even be close to that.\u201d<\/p>\n<p style=\"text-align: justify;\">Montreal<\/p>\n<p style=\"text-align: justify;\">\u201cFor Quebec in general and Montreal specifically, they have a phenomenal model for sixplex development, with three units on one side and three on the other. Every apartment has its own floor and two or three bedrooms. It works better in Quebec than anywhere else in the country. I don\u2019t understand why they don\u2019t do more of that in Ontario, BC or Alberta,\u201d said Francoeur.<\/p>\n<p style=\"text-align: justify;\">Montreal has been experiencing a mini condo boom the last few years, but multifamily housing reigns supreme in the city, and for good reason. The inherent risk to condo investing is that the risk is concentrated in a single unit, but in a multifamily dwelling, investors can absorb the financial loss from a vacant unit as long as the other ones produce rental income. Moreover, says Francoeur, plexes in Montreal can be purchased for around half of what they would cost in Ontario or B.C.<\/p>\n<p style=\"text-align: justify;\">\u201cYou can build [a sixplex] in Montreal for less than a duplex in Ontario,\u201d said Francoeur. \u201cYou get a lot more bang for your buck in Montreal, and I love that about Montreal.\u201d<\/p>\n<p style=\"text-align: justify;\">Greater Vancouver<\/p>\n<p style=\"text-align: justify;\">Things get a bit dicey in Canada\u2019s most expensive real estate market, but there are sound investment strategies for the region, assures Francey. Victoria is an economically propitious city with strong underlying fundamentals, and the Lower Mainland has some sleeper markets, too.<\/p>\n<p style=\"text-align: justify;\">\u201cYou have Vancouver Island, which has Victoria, and you have the Lower Mainland, which includes Langley, and it\u2019s always going to be a multi-unit investment, even a conversion of something in which you add a suite to bring up the rental income, because those will always be the most effective strategies,\u201d said Francey. \u201cIt\u2019s rare that you can have a property that cash flows just based on what the rent is today.\u201d<\/p>\n<p style=\"text-align: justify;\">It\u2019s well-nigh impossible for a single-family home to cash flow in Vancouver, and while the downtown condo market has some opportunities\u2014\u201cyou really have to know the downtown condo market to find them,\u201d said Francey\u2014investors would be wise to focus on Lower Mainland municipalities like Langley, Abbotsford and Chilliwack.<\/p>\n<p style=\"text-align: justify;\">\u201cEven there you have to add suites to those housing units,\u201d said Francey. \u201cIn Langley, there are some townhouse opportunities, although that depends on when you\u2019re getting in. We\u2019re seeing investors going out to the Okanagan Valley, but the best way to cash flow in the region is to add units.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/rein-shares-investment-tips-for-toronto-montreal-vancouver-334785.aspx\" target=\"_blank\" rel=\"noopener\">REIN Shares Investment Tips for Toronto, Montreal, Vancouver<\/a> by Neil Sharma | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Real estate investing is contingent upon a slew of factors, all of which are unique to their locales. In a chat with CREW, the Real Estate Investment Network (REIN) shared &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2021\/08\/how-to-invest-in-canadas-3-major-cities\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-18349","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Invest in Canada&#039;s 3 Major Cities? &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2021\/08\/how-to-invest-in-canadas-3-major-cities\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"How to Invest in Canada&#039;s 3 Major Cities? &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Real estate investing is contingent upon a slew of factors, all of which are unique to their locales. 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