I just can't do it anymore...
Here are 5 reasons why I have decided to quit investing in Canada and focus on buying long term real estate here in the US.
1. Landlord & Tenant Board
While I've had amazing tenants in the past who rarely caused any issues, I've come to the realization that the Canadian Landlord and Tenant Board doesn't always have the best interest of landlords in mind. The lack of control I have over my own property is a major concern for me, as I risk having tenants potentially take advantage of me and screw me over. To make matters worse, I'm only able to raise rents a small amount every year, which further limits my ability to generate income from my investments. All these factors combined have led me to look for alternative investment opportunities outside of Canada.
2. Financing Is Insane
Although the tight regulations of the Canadian banks prevented a 2008 housing market crash in our area, it has also made it difficult for me to scale my real estate business. The banks don't like it when you own a large portfolio of properties, which means that I have to jump through a lot of hoops to secure financing. The only way for me to grow my business is by entering into off-title joint venture partnerships, but even this option has its own difficulties. The financing process for these partnerships is lengthy and challenging, which ultimately slows me down from scaling my business quickly.
3. America is Open For Business
In America, the opportunities to invest in real estate are endless. With a population that is much larger than Canada, there are more homes to buy and at prices that are significantly more affordable compared to properties in the Kitchener Ontario area. This makes America the perfect destination for those looking to expand their real estate portfolio and make the most of their investments.
4. Home Prices Are Cheaper
In Canada, real estate prices are significantly higher compared to the US. Although some people are concerned about a potential crash, it appears that the recent correction in the market was simply a normal adjustment from interest rates being raised. Canada is considered a safe country, which contributes to the value of homes, but unfortunately this stability can make real estate investing challenging.
5. The Cashflow Is Higher
Discover the potential of higher cashflow in real estate investment. With rents in Florida comparable to those in Kitchener, you can benefit from lower property prices resulting in improved cashflow. Additionally, the deals and investment opportunities are better in this market. For example, our own Airbnb property made $25k in the month of January alone.
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#Canada #RealEstate #Investing #Leaving #USA #Airbnb
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Why I Am No Longer Investing In Canadian Real Estate…
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