New forum Member, Wanted to Say Hi!

[LondonHomes]

Hello REIN,


I'm a new forum member and wanted to introduce myself. I actually found this site last week and was unable to join due to the forum upgrade but I have spent a lot of time reading and catching up on recent posts.


I am from London Ontario and I have been involved in real estate for awhile as a realtor for residental property, but I have never been an investor. I found this site as I am now looking to make some personal investments in income property and wanted to increase my knowledge base.


I look forward to learning from and discussing real estate with other members.

 

[Anonymous]

hey there . . . !!!
another newbie here , happy to find this forum . . .
would love to have some friends from here . . .

 

[housingrental]

Welcome


The is not the ideal timing to start a residential rental portfolio... but it is never a bad time to learn more

 

[MrHamilton]

Hello LondonHomes, Zebediah,


Welcome to myreinspace!


If you haven't already, I would highly recommend picking up Real Estate Investing in Canada by Don R Campbell. http://www.amazon.ca/Real-Estate-Investing-Canada-Creating/dp/0470158891/ref=sr_1_2?ie=UTF8&qid=1293639616&sr=8-2


It is a brilliant book for anyone looking to increase their knowledge base in real estate investing.


All the best!


Erwin

 

[LondonHomes]

Thanks for the warm welcome.


I will make sure I pick up that book in the next few days.


I do agree that I would have been far better off to star a portfolio a few years ago, but I figure that it is better now while market prices are paused, then in a few more years when they start to increase again.

 

[FraserCampbell]

Adam,

Why do you believe now is a bad time to invest? Are you expecting large price declines, higher vacancies, deflation/lowered rents or just a very flat market?

Thanks,
Fraser

 

[housingrental]

For residential properties in most markets in Ontario over many years:


Operating expenses have been increasing at a faster rate than rental rates


The quality of potential rental pool has been declining


Purchase prices have increased significantly; net income from operations has not kept pace


The returns from operations with standard leverage at best are not too impressive - when you account for opportunity cost of down payment, transaction costs, time spent to administer, and long term expenses for upgrades and capital improvements - they are poor at best and more often money pits - Few landlords, regardless of level of experience / skill / expertise will experience "best"


From an operational stand point single family housing are dogs for the start of 2011.... A purchase on them should be viewed as a long term bet on capital gains only.... And I would not make that bet at this point in Ontario