QUOTE (JDRInvestments @ Oct 17 2009, 11:06 AM) Hi,
This is very broad question to answer but I will try to answer in a way that has helped my first purchases. I agree with the previous posts (about investing in Top 10 and driving to each to get a feel for them), because I too live in Oakville which is basically in the middle of both within 1 hour driving distance.
I began initially in Barrie because I had fellow REIN members point me to individuals who are now part of my team. At the same time I was more familiar with Barrie than KWC. I invest in REINs suggested TOP 10 Investment Towns for many reasons, but mainly because the data and information steered me away from a MAJOR speculative investment here in Oakville. (Not to say Gregg is wrong investing in your own backyard)
I was originally planning to buy a home for over 800k because the `market was hot` in Oakville and that would have tied my funds up for many years as the house sat there (it was a new build) for over a year trying to rent. In fact, the agent trying to sell it bought it and who knows if it cash flows?
Upon joining REIN and learning the systems and what to look for, their information and research helped me get started and forced me to dig deeper into an investment town that filled what I was looking to do.
I now invest in both of those key areas while learning every day about the KWC region to be as knowledgeable as possible. I have built a secondary strong team there who have been the most supportive foundation for investment into a new area. My first property there has already increased by over 20k in market value in less than 12 months.
I think it really comes down to knowing what type of property you want to invest in, what your tenant profile is, what your 5 year plan is and ultimately like the others have suggested, which town fits that system?
I can personally tell you that both of those towns will cash-flow if you know what to look for.
If you need any other help, please feel free to contact me.
Thanks Joey. I`ll be visiting Barrie in the next couple of weeks and contact you after that.
Thanks again.