What about Quebec

[patpinet]

Hi

I`ve been looking on your site to get some info in general about investing.
Most REIN members and info seem to be located west of Ontario.

Is there any research been done on Quebec.
From where I`m sitting I can see plenty of opportunity.

I know our #?%$%@%& government taxing us heavily.

Thanks

 

[Jack]

QUOTE From where I`m sitting I can see plenty of opportunity.

Such as?

 

[GarthChapman]

QUOTE (patpinet @ Dec 27 2008, 04:50 PM) Hi

I`ve been looking on your site to get some info in general about investing.
Most REIN members and info seem to be located west of Ontario.

Is there any research been done on Quebec.
From where I`m sitting I can see plenty of opportunity.

I know our #?%$%@%& government taxing us heavily.

Thanks

Opportunity? What I see is:

• High taxation and resulting low disposable income - not so much left for higher rents
• Landlord/tenant laws skewed towards the tenants
• Highly regulated rent increases - how will you fund building improvements?
• Socialist leaning environment - not business friendly
• Economy composed largely of manufacturing sector - in troubleEconomy not self sufficient - relies on largesse of the rest of Canada to support itAging and eroding infrastructure - and no money to fixCompletely different legal structure - Napoleonic Code based; much to learnHighest percentage of renters in Canada - so lots of possible customers and lots of competition for their businessHistorical appreciation lags most of the rest of the country

What do you see?

 

[patpinet]

QUOTE (Jack @ Dec 27 2008, 06:54 PM) Such as?


Quebec city as now started to receive international plane at their airport.

Near Montreal;
Mirabel ,St Jerome and place around have a strong economic growth ratt and Whitney moving in Mirabel
Bell Helicopter ,Journal de Montreal is being print there, Messier Dowty,Ratiopharm and much more big name
are near St-Jerome.

 

[patpinet]

QUOTE (GarthChapman @ Dec 27 2008, 08:33 PM) Opportunity? What I see is:

• High taxation and resulting low disposable income - not so much left for higher rents
• Landlord/tenant laws skewed towards the tenants
• Highly regulated rent increases - how will you fund building improvements?
• Socialist leaning environment - not business friendly
• Economy composed largely of manufacturing sector - in troubleEconomy not self sufficient - relies on largesse of the rest of Canada to support itAging and eroding infrastructure - and no money to fixCompletely different legal structure - Napoleonic Code based; much to learnHighest percentage of renters in Canada - so lots of possible customers and lots of competition for their businessHistorical appreciation lags most of the rest of the country

What do you see?

- People will always need a roof to live,and will pay a higher price for hype place like Plateau Mont Royal.

- I know that the " Regie du logement " as a bad reputation for tenant law but it help to keep a sane competition too for landlord
the rent are regulated so there`s no massive drop in the rent to attract new customer`s.And there` is much space in the law to solve tenant problem.

-You can fund your improvement by negotiating with your tenant(without the Regie du logement)(Ask them what they want in their apartment and make them pay for the improvement .It`s a bussiness keep your client happy

-Socialist leaning environment - not business friendly(????????)I don`t mind that it doesn`t mather it`s part of the environment.
It dosn`t affect business.No need to pay for medical(for now) meen more money for the rent

-Economy composed largely of manufacturing sector - in trouble; Ubisoft ,Pratt and Whitney,Bombardier,Merck, etc....
There`s less manufacture can`t compete with India sorry, no more t-Shirt made in Quebec.

ETC......




Patrick
good deal are everywhere you can see it

 

[ScottL]

I am a succesful Alberta RE investor who has recently moved to Quebec for a 3 year term. I too see opportunity on the West Island of Montreal. I would love to connect with any RE Investors or potential investors in the Montreal area. Feel free to connect with me at [email protected]

 

[Thembi]

I lived in Quebec for the first 5 yrs of my life in Canada.When i moved into my apartment in 2002 i paid 470,i left in 2006 and was still paying 510 same apartment.Rents can only go up by a certain percentage regulated by Regie du logement-the rental board there.Tenants are definitely at an advantage becuase even with a 10 dollar increase on rent you can deny it and you go thru the courts and win ur case.Its ridiculous i think and very difficult to get rid of ur tenants since no one moves out willingly coz of cheap rents off course.There is no damage deposit and no checklist on move in or out as far as i know so people just wreck the place and move.Landlords dont even bother suing coz chances are they waste too much money doing that.That was my experience there,so Good luck.

 

[GarthChapman]

When I was a kid in Montreal (Chomedey, Laval actually) in the 1960`s my sister & brother & I stayed after school each day with a lady until our Mother got off work and picked us up. That lady, now 88 years young, is living in the same apartment she rented in 1970. When my sister and I had a coffee with her last summer she regaled us with stories of how her rent was still only $470 per month, when it was $400 in 1970. She was so proud of keeping her rent down all those years. And of course the place had not had any proper upkeep in all those years - it was pretty worn out.

As an investor, that`s not for me.