Anyone investing in the Niagara Region?

[phardy34]

I live in the Niagara Region (Welland) and am on the hunt for my first investment property. I`m looking at duplexes and triplexes here in the region. I`d like my first property to be fairly close to home, so I can manage it hands-on and learn the ropes before moving on to more aggressive investments outside the region (i.e. Cambridge, Kitchener, Hamilton, etc.)

I would like to hear from others who are currently investing in the region. What are some of the positives and negatives? Which areas of the region should I stay away from and why? I`d also like to hear from others who may have investigated the region and decided not to invest here. What did you base you decision on?

I`ve lived here my whole life and am not sure if my perspective is unbiased enough. I`ve done some research on stats and data, however find that very often, St. Catharines / Niagara is lumped in together as one general area, and it`s difficult to find info on specific parts of the region.

Any feedback would be greatly appreciated!

 

[TomNamestnik]

I`ve been investing in St. Catharines for a few years and have done well with the student rentals. From my experience, you will get the top $$ in south St. Catharines and Thorold. Thorold will give you the best value for your money and best cashflow, but St. Catharines (close to Brock and Pen) will give you solid returns as well and you are more likely to get 12 month leases. The student rental market here is quite saturated, but if you stick to a good location and a good property, there are no reasons to worry.
I always look for a property where I will at the very least break even with four bedrooms, and every additional bedroom is money in your pocket. I do this to protect myself in the event that the city decides to make changes to the number of students they will allow you to have in the house.
The fire code is also unclear in this city when it comes to student rentals, I have visited the fire prevention office on a few occasions prior to purchasing and renovating, but could never get a consistant answer. Also, the city of Thorold is now talking about licencing the student rentals.
Welland would sound like a good idea as well, since the Niagara College campus is right there, but I know a lot of rentals there and they had a difficult time getting leases longer than 8 months.

Feel free to contact me if you have any questions, I ran a leasing service and have seen hundreds of student rentals in this area.