Montreal investment

[xu3shi]

Hi,

I live in Montreal. I just read "real estate investing in Canada" and realized that in greater Montreal, it`s very hard to find something that has an annual rent income of at least 9% of the listed price. I`m considering on doing some more in-depth research on different areas in Montreal and the surrounding cities. I would appreciate a lot if any investors in Montreal could give me some insights to start with.

Thanks in advance,

Very serious in real estate investor.

 

[DanBarton]

Hey,

Congratulations on moving forward and taking some action after reading Real Estate Investing in Canada. As a first step I would highly recommend taking the `town checklist` and analyze the part of the city you are considering investing in and see how it scores. You will need to keep in mind that the 10% rule, I find is only a rule of thumb. Currently I am a real estate investor in central Alberta and we were having a tough time finding deals that made 7%, but because we kept a close eye on the underlying fundamentals we understood that a deal may `break-even` with a 7% but our stratigy was to get into the deal for appreciation and not cashflow.

Hope that helps!
Dan

 

[xu3shi]

Dan,

Thank you for your input. I`m running some random provincial and local stats, but the most recent one I found was from 2001

So, I went to Montreal`s site to see all the major economical events... That helped a lot.

I think the Goldmine score card is a great tool! However, is there any other factors worth analysing while chosing a town? And what did you base on to determine the current season?

I would love to open my eyes on other investors` experience.

Eager to learn,

Leo

 

[TorontoRealtor]

Get out and take the Quick Start program and join REIN. It will be the best move you ever made and the best money you ever spent. Trust me on that.
Murray
Toronto