# Where to invest in Eastern Ontario



## Equilibrium (Jun 29, 2015)

With your experience where do you think the best place to purchase real estate with the intent to rent it out is in Eastern Ontario as well as what type (Single family, multi family)?

I currently live in Ottawa and want to enter the market but it seems like it is far to expensive to return a profit.

Let me know what your opinion is!


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## lonewolf :) (Sep 13, 2016)

Have to wait for a better time to buy 

If practical rent out your basement, a room in your house or live in the basement & make your house into an air B&B


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## Mortgage u/w (Feb 6, 2014)

The location is no more important than your ROI.

Single units are not good rentals and I wouldn't consider them as such.

If you have limited funds, you are better off investing it in your own home or watch it grow on the stock market.


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## Equilibrium (Jun 29, 2015)

I totally agree with you that location is just as important as ROI.
In my personal opinion Ottawa alone does not seem to have many good deals so Im looking to see what other possibilities are out there. So of the surrounding areas such as Cornwall or Smith Falls for example would you invest in? The prices are much cheaper for multi family homes but of course the draw back is a smaller population.


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## Mortgage u/w (Feb 6, 2014)

Each location has its niche clientele. Unfortunately I cannot comment about Cornwall or Smith Falls.

My advice is to look for a place that has a working class clientele and the property has a positive cashflow. I also recommend something closer to home since it seems to be your first shot at RE - you don't want to be traveling far distances. Look at multi-unit properties....single units almost never have a positive cash flow and limit your income potential. Put at least 20% down. Look for a property where maintenance can be reduced (no garage, no dual balcony, no appliances, no large units, etc.).


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## Equilibrium (Jun 29, 2015)

Does anyone have any experience with investing in Cornwall?


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## Just a Guy (Mar 27, 2012)

In this time period, I'd be very patient and have everything lined up to pounce when the opportunity arises. There are always a few properties, every year, which pop up on the market because the owner has to sell. It may be a foreclosure, an estate sale, a company backed relocation, whatever but rare deals do show up. When they do, they don't last long. If you work with a realtor, they can inform you within minutes of the listing hitting the market. Acting quickly, making unconditional offers, etc. Increase the likelihood that you'll acquire he property.

Of course, if you just want to buy right now, chances are you'll need to overpay to get into the market. With interest rates rising, I expect the buying market will actually "improve" as prices fall. Of course when that happens, you'll probably be posting on here asking when the market will hit bottom to buy in...


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