Hamilton Downtown Core

[Yev]

Hi,
New to this forum (somewhat less new to investing in real-estate I have 12 doors currently).
I have been looking at the Hamilton downtown core. There are a number of reasons to shy away from the area - other reasons to consider it seriously. I would love to hear opinions on both sides and specific areas to avoid/concentrate on. I`m looking at multi-unit, small apartment buildings.
Thanks,

Yev

 

[BobHudson]

The general rule in Hamilton is: stay east of Sherman, stay south of Main. You can get amazing numbers (monthly cashflow) if you dare to head north or west of Sherman and Main. But you will lose on poor quality of tenants, renovations, and lower appreciation.

When you look at the numbers, it is very tempting. Been there. Done that. Wife stopped me from doing anything foolish like buying in that part of town!

 

[Marek2086]

Although I am just starting out in investing in real estate, I gotta tell you there are some great properties around Barton st now near the general hospital. The building next to mine is a 33 unit building undergoing a full renovation it also has 3 commercial units. He is a investor from Toronto and he has already spent over 250k in renos. The great thing about it is that about half the cost the city gave him a grant for. I am also looking to getting a grant from the city. Apparently the area is top priority to be fixed up. Also in please for a number of years, is the Barton Village Business Improvement Association that is helping everyone clean up the area. One more thing recently there was a junky looking garage building next to the general hospital my agent said it sold for 1 million. I think Barton st is coming back with the huge expansion of the general hospital. Get in while it`s still very cheap.

 

[Yev]

Thanks for the answers

Do you have any suggestions as to reliable property managment companies in Hamilton. I`m working with a commercial realtor, but would like some suggestions as to property managers and/or service/repair people.

Thanks,

Yev