Cashflow in Toronto?

[newtothegame]

Hey all. I`m looking at purchasing a third property, this time with a JV partner and friend. He would be living in the property whatever it turns out to be and then renting any other rooms or units in the building out.

Because of the cost of real estate in toronto, even in developing neighborhoods I am wondering if anyone has had luck with finding good positive cash flow properties. I`d love to hear how you made it work and where in the city you invested, as well as what kind of property (condo, townhome etc.) you`d recommend looking at.

If anyone has any real estate agents that know the REIN system I`d love to get names as well.

Thanks in advance!

Phil

 

[Thomas Beyer]

QUOTE (newtothegame @ Jul 18 2008, 11:15 AM) Hey all. I`m looking at purchasing a third property, this time with a JV partner and friend. He would be living in the property whatever it turns out to be and then renting any other rooms or units in the building out.

Because of the cost of real estate in toronto, even in developing neighborhoods I am wondering if anyone has had luck with finding good positive cash flow properties. I`d love to hear how you made it work and where in the city you invested, as well as what kind of property (condo, townhome etc.) you`d recommend looking at.

If anyone has any real estate agents that know the REIN system I`d love to get names as well.

Thanks in advance!

Phil
same problem in Edmonton, Vancouver or Calgary !

try smaller cities (outside of GTA) with job growth .. lower prices, similar rents, hence: better cash-flow !

 

[terri]

it is totally possible to find great cash flow properties in some of the hottest downtown neighbourhoods in TO, you just need to be patient waiting for them and then act fast when they come on the market. It`s sort of like fishing. You need patience, you wait and wait and wait, then suddenly have to jump into action. I saw a beautiful 3 storey victorian list yesterday, capped 7%, today there was a sold sign out front.

Get an agent that knows the area well and will work hard for you. If you are a rein member you can contact Donal Ward McCarthy through the member`s list.

T.