Hi,
I am looking to invest in a multi-unit residential apartment building in South Eastern Ontario including GTA.
The best deals in terms of price per unit seem to be in Windsor. In GTA I would be lucky to get $100,000 per unit (e.g. $2,000,000 for 20 units). But in Windsor there are 20-30 unit buildings for under 1 million.
I know Windsor has highest vacancy rates in Canada (at around 10%). So the cash flow from 20 units in Windsor can be the same as cashflow from 10 units in GTA. Still... With equal cash-flows, you get bigger building there...
Does it makes sense to invest in Winsdor?
I am looking to invest in a multi-unit residential apartment building in South Eastern Ontario including GTA.
The best deals in terms of price per unit seem to be in Windsor. In GTA I would be lucky to get $100,000 per unit (e.g. $2,000,000 for 20 units). But in Windsor there are 20-30 unit buildings for under 1 million.
I know Windsor has highest vacancy rates in Canada (at around 10%). So the cash flow from 20 units in Windsor can be the same as cashflow from 10 units in GTA. Still... With equal cash-flows, you get bigger building there...
Does it makes sense to invest in Winsdor?