Montreal, QC as an investment?

[bdinello]

hi all,

I`m a newb here, and I was reading all the great material you guys have. I`m just getting started in real estate, and I thought this group could really help me, until I found that no one is discussing Quebec or Montreal areas as potential investment locales.

Just curious as to why? Of course, I need to do more DD on some towns around here, but I`m wondering if this is an anomaly (ie. just a coincidence that noone from Quebec posts here) or if Quebec laws make it less profitable to invest using the ACRE system?

thanks for your insight, looking forward to your responses!

 

[DonCampbell]

Hi,

Welcome aboard.

There are a few Members who have ventured into the Quebec market (despite the unbalanced landlord & tenant laws).

I recommend that you take out the Property Goldmine ScoreCard and do some due diligence on the area you are thinking of investing in. It will help you supbstantially. In additon, I recommend that you review the landlord & tenant laws (especially from the `non-payment of rent` side and the `increase rent` side.)

Trust that helps get you going.

 

[mikecunning]

QUOTE (DonCampbell @ Nov 13 2007, 02:25 PM) Hi,

Welcome aboard.

There are a few Members who have ventured into the Quebec market (despite the unbalanced landlord & tenant laws).

I recommend that you take out the Property Goldmine ScoreCard and do some due diligence on the area you are thinking of investing in. It will help you supbstantially. In additon, I recommend that you review the landlord & tenant laws (especially from the `non-payment of rent` side and the `increase rent` side.)

Trust that helps get you going.
Please send me a private note and I will put you in touch with a REIN member from Quebec that has been looking there.

 

[bdinello]

thanks very much Don and Mike. I understand your concern regarding the tenant / owner laws here. Indeed, Quebec is a little bit on the socialist side when it comes to this type of thing. Labor unions, tenant unions, etc, etc.

However, from my experience (as a past renter), the good tenants pay so that if you pick tenants carefully, you don`t need the law on your side.

Of course, I`ll be doing alot of homework in the next few days, but I have a couple of ideas where to look first, thanks to some of the postings here.

 

[turtle]

On the same subject, I want also to start using the ACRE system in Montreal.
I`m currently looking for a realtor I could work with.
I will need also a lawyer and an accountant. Do you have any piece of advice or referral concerning this area ?

Thanks

 

[bdinello]

QUOTE (turtle @ Nov 16 2007, 05:51 PM) On the same subject, I want also to start using the ACRE system in Montreal.
I`m currently looking for a realtor I could work with.
I will need also a lawyer and an accountant. Do you have any piece of advice or referral concerning this area ?

Thanks


hi Turtle, send me an e-mail and we could grab a cup of coffee and share information. I think there are lots of differences with real estate in Quebec versus the rest of Canada, and I`d love to "compare notes" with someone who`s starting out like me.

 

[gasman]

I too am a NewB here and I`m glad I came across this post,

My home is in Vancouver but I just finished working in Montreal for 2 months, I instantly thought it would make a great place to apply the ACRE system. I have been doing my DD and found a property that fit my Goldmine Score card. I continued to work out the property analyzer with a positive monthly cash flow. I am now in the process of making an offer on a property.

I too noticed that their was not a lot of information or discussion regarding Quebec. Coming from Vancouver the market seemed very reasonable in Montreal, considering that it is a Harbor city and full of energy and potential.

My plan is to rent out a furnished unit, and use a reputable property manager to take care of it. The rent has been the same in the unit for the last 2 years, so that should leave room to increase. My offered price is almost $20,000 less than the asking price, and its looking like they will bite.

I hope I am not making a grave mistake doing business there, it almost seems like a gimme. As much as I like the city I have tried to keep every aspect of business there just that, business.

 

[BRS]

QUOTE (bdinello @ Nov 19 2007, 01:58 PM) hi Turtle, send me an e-mail and we could grab a cup of coffee and share information. I think there are lots of differences with real estate in Quebec versus the rest of Canada, and I`d love to "compare notes" with someone who`s starting out like me.


Turtle & bdinello

I`m starting out as well in MTL, I`d love to have a "mini-REIN" network to bounce ideas and situations around with. Let me know if you guys are interested?

Ben

 

[AnitaR]

Hello!

I have invested in Québec as well as in Alberta. There is a real estate investment club in Montréal and Québec City and I attend their meetings as often as possible. I would also be interested in networking with other REIN members in Montréal.

Looking forward to hearing from you!

Anita




QUOTE (BRS @ Dec 28 2007, 12:38 PM) Turtle & bdinello

I`m starting out as well in MTL, I`d love to have a "mini-REIN" network to bounce ideas and situations around with. Let me know if you guys are interested?

Ben

 

[turtle]

Could you let us know the coordinates of these clubs ?
That would be great to discuus with other investors in Quebec.


QUOTE (AnitaR @ Dec 29 2007, 01:18 PM) Hello!

I have invested in Québec as well as in Alberta. There is a real estate investment club in Montréal and Québec City and I attend their meetings as often as possible. I would also be interested in networking with other REIN members in Montréal.

Looking forward to hearing from you!

Anita

 

[AnitaR]

It`s "Le Club d`investisseurs immobiliers du Québec"
Check out their website at: Could you let us know the coordinates of these clubs ?
That would be great to discuus with other investors in Quebec.