investing in cornwall

[nav1940]

hi every one

I`m starting to do some research on conrwall ont. to see if it is a good town to invest in. thr property i was looking at cashflows. just want to know if some has invested in cornwall and what they think of it. I would have to find a property manger to look after it. because i be about 4 hr away and do you think it is a good idea to be that far from your rentals. if anyone has any information on cornwall please let me know

nav

 

[ajaysritharan]

Hello;

I have been investing in Cornwall for about 1 year now and I have build a team of real estsate professionals in this area.

If you have any questions about this market, please feel free to contact me at:

[email protected]

Ajayan Sritharan
Professional Real Estate Investor

 

[invst4profit]

As far as investing from a distance is concerned it depends a lot on your long term plans and your present experience level as a landlord/real estate investor in my opinion. My advice to any new landlords is hands on. If you already know the whys and hows of the business you can better track your management company and evaluate there quality of service.
Investing from a distance can be very frustrating and financially devastating when it goes bad and you can not be there to fix it.
What are the numbers on the property you are considering?

 

[Donal_Ward_McCarthy]

Hi Nav,

are you investing in the hopes that your property will appreciate or are you simply looking for cashflow from you properties or both?

Sincerely,
Donal.

 

[RanjitPlaha]

Depends-if I was new to investing I would stay within 1 hour of where I live, otherwise it too long a drive to take care of any issues
-if I was going to hire a management company, then I may buy it, but it better cash flow well.

Lastly, why buy in Cornwall, when you have the TOP 10 to invest in?

 

[nav1940]

QUOTE (Donal_Ward_McCarthy @ Feb 2 2009, 04:34 PM) Hi Nav,

are you investing in the hopes that your property will appreciate or are you simply looking for cashflow from you properties or both?

Sincerely,
Donal.

just looking for cashflow cornwall does not have much of appreciate

 

[NeilUttamsingh]

QUOTE (nav1940 @ Feb 2 2009, 09:34 PM) just looking for cashflow cornwall does not have much of appreciate

Nav,

Consider Ranjit`s comments.
If you are buying for cash flow, you can purchase in a Top 10 Town, where you will receive monthly cash flow and solid appreciation. 2 birds with one stone.

Regards,
Neil.

 

[Mike Milovick]

QUOTE (ajaysritharan @ Jan 30 2009, 04:54 PM) Hello;

I have been investing in Cornwall for about 1 year now and I have build a team of real estsate professionals in this area.

If you have any questions about this market, please feel free to contact me at:

[email protected]

Ajayan Sritharan
Professional Real Estate Investor

Hi Ajayan;

I heard from a tenant that "south" Cornwall has some sort of contamination (soil?). Is this true?

My understanding is that the main industry - pulp and paper - pulled out a year or two ago? Has this effected valuations recently?

Mike

 

[ajaysritharan]

QUOTE (MikeMilovick @ Feb 4 2009, 11:47 PM) Hi Ajayan;

I heard from a tenant that "south" Cornwall has some sort of contamination (soil?). Is this true?

My understanding is that the main industry - pulp and paper - pulled out a year or two ago? Has this effected valuations recently?

Mike

Hi Mike

I have not seen any information related to the soil contamination. Domtar had fairly large pulp and paper operation in Cornwall and they did shut down all of their operations in Cornwall. This has helped the city tremendously because air quality was significantly improved. Apparently, Cornwall had one of the worst air quality metrics because of the Domtar mills/plants.

Domtar shutting down operations probably has helped valuations as it has made it much more atrractive to live in Cornwall, especially for the baby boomer generation. Cornwall property values have not seen the huge high single or double digit growth (over the past 3 years), but its been growing steadily.