Windsor Ontario Long Term

[TIMWEMBLEY]

I have been looking for a good area to invest in long term.I have been in northern alberta and have enjoyed some huge apprection in rentals and dont like the idea of paying $300k for a rental so I am looking elsewhere. I see the low prices and decent rents of Windsor and see alot of upside potential when ther economy rebounds. Anybody currently investing in this area ? I am planning a trip shortly to check things out and hopefully secure a few property`s. Any advice or insight to this area would be appreciated
Thanks

 

[WSJ]

QUOTE (TIMWEMBLEY @ Sep 25 2007, 03:13 PM) I have been looking for a good area to invest in long term.I have been in northern alberta and have enjoyed some huge apprection in rentals and dont like the idea of paying $300k for a rental so I am looking elsewhere. I see the low prices and decent rents of Windsor and see alot of upside potential when ther economy rebounds. Anybody currently investing in this area ? I am planning a trip shortly to check things out and hopefully secure a few property`s. Any advice or insight to this area would be appreciated
Thanks

I have renters in Alberta moved from Windsor. They had problem finding jobs. The city has high vacancy too. The economy may rebound in the future, but when? It could be a very long term investment before good tinhs happen.

I took some chips away from Alberta and put them in Ontario too.

Good luck.

 

[trudijohnston]

Trudi Johnston

I also have property in Windsor. I own a duplex that cash flows about 300/month. Sounds good, but we have had no equity growth, in fact we have lost equity. On the positve side, We only put down 13,000 and someone else is paying off our mortgage. I guess in 15 years we will own it and then try and sell it, unless the market really changes.!! I don`t think Windsor is a really good place to invest in???? There are so many other great places in ONtario, that are performing.

 

[Anonymous]

Windsor - Stay away!

The issue with Windsor is primarily that there are no strong long term economic fundamentals working if your favour. I grew up in Windsor and have a lot of family there so I know of what I speak. In addition, i have still have two properties there which I am having extreme difficulty with.

I would suggest KWC, Hamilton, or Durham. Hamilton for max cash flow vs. purchase price.

 

[TIMWEMBLEY]

Thanks for the advice I will keep this in mind and look at other towns as well

 

[yuenie]

Hamilton? Are you able to get nice/good tenants there? Heard that it`s hard.

 

[DonCampbell]

Many Members are doing very well in Hamilton (it is one of the Top 10 Ontario Towns To Invest In).

The renter profile is good, like anywhere else you have to do your due diligence, job growth is consistant and with the new Freeway being built in-migration from other parts of the province is poised to be strong.

Take a look at the McMaster Innovation Park and all of the high-tech jobs being pulled into town.

It`s important to look at the facts, so you can see the reality of the situation not just rumors and innuendo.

Click Here for a link to the Top 10 Ontario Towns to Invest in Report you may find helpful:

 

[Anonymous]

QUOTE (yuenie @ Sep 26 2007, 08:00 PM) Hamilton? Are you able to get nice/good tenants there? Heard that it`s hard.

Again, it all depends on where you are investing. You "heard" vs. you have done your own research. As with any city, there are areas that are very difficult and areas which are very easy. In our portfolio, we have wonderful families paying between 100 - 300 above market rent and how are doing very well at maintaining the condition of the property.

If you need a hand in Hamilton, please ask.

 

[markl]

Tim if looking in Windsor in your calculations use above a 10% vacancy rate. I think the vacancy rate for last year was closer to 15%. Myself for cashflow I am buying in Eastern Ontario.

It helps nicely to offset the negative cashflow of AB. For example we just purchased a 4 plex that grosses $2k per month for $75K.

If you want more info let me know.

Regards,

Mark Loeffler