Finding an investment property in Canada for under 0,000 doesn't restrict you to searching in rural areas. While property prices in Canada have steadily increased since they dipped due to the recession in 2008, there are definitely some good deals to be found. Indeed, even if you have less than 0,000 to invest, you can still find some investment properties in good Canadian cities like Vancouver, Toronto, or Montreal. The key is resourcefulness.
First and foremost, there are MLS listings and you may luck out and find a great deal, but the most successful investors rely on other tactics for making good on their money. When it comes to real estate investment, you need to be shrewd especially if you're hoping to invest for less than 0,000. As terrible as it may be to admit, one person's financial woes can be your financial gain. Foreclosures, tax auctions, probate or inherited property, and even houses that need repair are all property types that provide an unparalleled opportunity to invest with little capital. The best part about investing in these troubled properties is that you can find them just about anywhere you look. Whether you want to buy a commercial property in Saskatchewan, or a condo in Victoria, you can find some great deals. On the other hand, many of these properties may be embroiled in lengthy legal proceedings, so it may be advisable to hire an attorney to assist in the process. Obviously, if you're hoping to find a property in a Canadian city for less than 0,000 you will have to very flexible in your approach. Cities like Vancouver and Toronto are not likely to offer as many investment properties for 0,000 as cities like Regina or Winnipeg.
Still, aside from investing in seized or foreclosed properties, there are still options available. Simply searching the MLS for cheap investment properties isn't going to cut it. You and thousands of other real estate agents, investors, and sellers troll the MLS on a daily basis looking for a sweet deal in major Canadian cities. Truly successful investors find investment properties in good Canadian cities by networking. Speak to other investors about potential opportunities, drive through interesting areas looking for properties on the market, and even search for abandoned properties. The fact remains, a great steal of an investment property is not likely to be advertised, so you'll have to do some leg work to find what you want. Even properties that are "For Sale by Owner" can often be picked up for much below market value, especially when the owner is a highly motivated seller. More importantly, in order to find successful investments for under 0,000 in Canadian cities, you might need to enter some kind of partnership. Developers are often looking for investors across Canada, and you might be able to get in on the ground floor with an investment as large as 0,000.
Perhaps the main key to buying investment properties in good Canadian cities for under 0,000 is flexibility. With the exception of some small, rural towns, you're not likely to find a real estate market in Canada with the perfect property on such a small budget. Do your research and learn not only which cities are growing the quickest, but which cities have the lowest property values. For example, Saskatchewan traditionally offers very affordable real estate, but with the prospect of oil in the province, investment opportunities are plentiful. Speak to a qualified investment real estate agent and see where you can find the best deals that offer the best returns.