Hello Everyone Investing in Hamilton Ontario!!
If you haven’t heard, Hamilton is the #2 Investment Town in Ontario, full press release here: Press Release – Top Ontario Investment Town – Hamilton
In my conversation with Don R Campbell before April’s REIN meeting, Hamilton’s home values have gone up significantly (as Don had predicted when Hamilton was first named #1) but because of the higher values, cash flow opportunities have become more challenging. However, Don also mentioned that between the top three towns, you’re really splitting hairs.
What I like about Hamilton over the other top towns is its close proximity to the great Toronto area where most of my clients are from so driving here takes less of your precious time and because of the lake effect, winters here are nothing compared to the northern towns. For my investor friends in Barrie, it wasn’t uncommon to plant a “For Rent” sign on top of a six foot tall snow bank (not quite eye level when you’re passing by in a car) and how many potential tenants do you think want to look at property in a deep, snowy winter?? Unless I lived much closer to those other markets, Hamilton makes the most sense to me.
Thank you to Aneta Zimnicki of mymortgagesherpa.com, investor, REIN member and mortgage agent extraordinaire for her mortgage market update and tips on investor mortgages! Everyone was buzzing about your tip on using CMHC insurance!!
Thanks for all the wonderful feedback on my presentation on target areas for investment property. I DID NOT sleep well the night before as I wasn’t happy with my presentation since it was just my research into different markets in Power Point format but I guess A) I’m a wee too hard on myself B) My research actually did produce some “Aha moments” and solid takeaways 🙂 Email Meaghan if you’d like a copy of the slides.
During the networking portion of the meeting, we met some first time attendees who expressed much fear in getting started in investing in Hamilton. My guess is they were late 30’s early 40’s in age and I only mention their age because at that age, you’re pretty stable at that age in both family, career, savings, etc… Rock Star investor Evelyn also happened to be there and I never straight out tell people to build a bridge and get over their fears 🙂 but rather I asked Evelyn to share her story. She’s now 29 and bought one house each year for the last three years. Yup, she was 26 when she bought her first property and she’s super successful with that property and the others. Evelyn went on to explain to the novice investors 10 years her senior that when she started, she admittedly did not know much other than that real estate investing was for her AND more importantly because she had a fantastic team, her team would have all the answers hence giving her the confidence to build her mini empire. Do you have the ability to take action like a single, 26 year old girl? The #1 regret I hear from investors is they wished they started younger. One time I was at a networking dinner sitting between two sixty somethings who said the same thing then in unison they both pointed at me and said they wished they started at my age 😛 (truth is I started around Evelyn’s age too). So SCREW regrets and do something to improve your financial well being.
We’re crazy thankful to be able to help wonderful people like Evelyn in her investment journey and Evelyn has been kind enough to accept our invitation to speak at a future Mr. Hamilton Inner Circle Meeting. Like I’m always telling new investors, if you want to learn, find someone who has what you want and learn how they did it. Hopefully we’ll see you all June 28th at our next Mr. Hamilton Inner Circle Meeting
We have two upcoming listings:
- A LEGAL (non-conforming) Triplex in the highly coveted St Clair neighbourhood. The property has 1-bedroom, 2-bedroom and a bachelor unit. Total rent $2,095/month. Projected market rent $2,295. The property is in great shape, one of the best condition multis I’ve seen in a long time. Asking is 295,800.
- Turnkey Student Rental property in a A+ location for Brock University students. Completely renovated basement and basement full bathroom. The property is located close to my own properties. Projected rent 2,700/month inclusive. Asking $270,000.
If you’re interested, call or email us ASAP to set up your showing! If you’re not yet our client, fill out the contact us form and we’ll get back to you: http://www.mrhamilton.ca/contact/
Till next time – Happy Hamilton Investing Everyone!
Erwin | MrHamilton.ca
PS: If you are just starting out investing, start by investing in yourself by getting training by Clicking here for FREE Training on “How to Invest in Nice Homes in Nice Areas”
Click on the below to follow me on Facebook or Twitter