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Quebec REIN Meetings?

G

gopaldev

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Hi everyone, my name is Gopal and I attended the ACRE weekend in Toronto this past weekend. It was an incredible experience full of useful information, advice, and most importantly, a very strong dose of reality. REIN is the real deal. Don Campbell and his team of experts are doing a great service by opening peoples` eyes and ears to the world of Real Estate in an incredibly analytical and unbiased fashion.

I`m from Montreal and have done some investing in Quebec and was surprised to only see a handful of Quebecers at the meeting. I didn`t have the chance to meet all of you so I want to take this opportunity to invite you all to contact me anytime so we can discuss more REIN strategies and work together here. I know REIN doesn`t have much of a presence in Quebec and I would like to change that.

Attending meetings in Ontario, Alberta, etc...isn`t always possible. So, if you are in the Montreal area, let`s just start a discussion group with the sole goal of strategizing together on the many topics we covered this weekend and help each other out.

We could meet once a month and just see what we can learn from one another. At the very least we can bring more of an awareness to REIN here and grow our numbers. I stumbled across some of Don`s books (``Real Estate Investing In Canada`` and ``97 Tax Tips for Canadians``) at my local library purely by chance in late 2006. I am very thankful for that and want to find other like-minded people here.

I can be reached by email at gopaldev@hotmail.com or on my cell at 514-781-3204

Success to everyone here
ACRE & REIN Rule!!!

Gopal
 
[quote user=gopaldev]Hi everyone, my name is Gopal and I attended the ACRE weekend in Toronto this past weekend. It was an incredible experience full of useful information, advice, and most importantly, a very strong dose of reality. REIN is the real deal. Don Campbell and his team of experts are doing a great service by opening peoples' eyes and ears to the world of Real Estate in an incredibly analytical and unbiased fashion.



I'm from Montreal and have done some investing in Quebec and was surprised to only see a handful of Quebecers at the meeting. I didn't have the chance to meet all of you so I want to take this opportunity to invite you all to contact me anytime so we can discuss more REIN strategies and work together here. I know REIN doesn't have much of a presence in Quebec and I would like to change that.



Attending meetings in Ontario, Alberta, etc...isn't always possible. So, if you are in the Montreal area, let's just start a discussion group with the sole goal of strategizing together on the many topics we covered this weekend and help each other out.



We could meet once a month and just see what we can learn from one another. At the very least we can bring more of an awareness to REIN here and grow our numbers. I stumbled across some of Don's books (''Real Estate Investing In Canada'' and ''97 Tax Tips for Canadians'') at my local library purely by chance in late 2006. I am very thankful for that and want to find other like-minded people here.



I can be reached by email at gopaldev@hotmail.com or on my cell at 514-781-3204 514-781-3204



Success to everyone here

ACRE & REIN Rule!!!



Gopal




Gopal,



I just joined REIN and my first instinc was to do a search for "Quebec", lucky for me, I stumbled across your post. I would be more than interested to learn more about investing in Quebec. I already have two properties in the Ottawa region, but would like to reorientate my focus toward the Quebec city area. I have an excellent knowledge of the area and all the economic foundamentals seem strong. I hope you are still REIN member and we could continue exchanging more information on the Quebec market. Looking forward to hear back from you.



Jerome
 
Hi,



I am in Ottawa with some properties in Quebec (Gatineau), let me know if you would like to meet to discuss. Also note that there are a few members in Ottawa and we get together every month.
 
[quote user=gopaldev]... all the economic foundamentals seem strong. ..



Enlighten us on some key metrics please as my and many REIN members knowledge of Quebec is quite thin. All I know about Quebec real estate is

a) the rent control laws are very tenant friendly,

b) people tend to move once a year on July 1,

c) taxes are high

d) unemployment rate pretty high too

e) high debt per capita

f) plus the transfer payments to Quebec are quite high and will likely go lower with a conservative government, creating even higher deficits

g) a separation from the rest of Canada is a possibility creating higher risk for real estate prices

h) it is more like Europe .. governemnt plays a bigger role, old pubs, older churches, more culture



So why invest in real estate there ?



Is there in-migration or population growth ?



Is there job growth ?



Is the debt shrinking ?



Are industries competitive ?



Why would prices and/or rents go up .. and if so: why ?
 
[quote user=ThomasBeyer]So why invest in real estate there ?






Thomas,





I`m still at the research stage of the process, but I do agree with you on high taxes, rent control and renters moving only once a year. These are some of the reasons why I`m still trying to find out more about the market before I start investing in it.





Here are some of the stats I managed to gather on my Goldmine Score Card for Quebec City so far:




[list type=decimal]
[*] Area`s average income has been increasing at a rate of 5% in the last year
[*]Area`s population grew at a rate of 8.1%
[*]More than one major employer, to include a large number of government employees
[*]Area`s affordability index sitting at 35%
[*]Province`s second largest city
It is the home of the largest university campus in the province and many CEGEPs (professional colleges)
The average price of a single family home is around $240 000, a 7.4% increase from 2010.
The average vacancy rate is slightly above 2%
The average rent is around $650
[/list type=decimal]




I`m sure there are many factors that I haven`t considered and I am hoping to make best possible use of myREINspace to complete my analysis and maybe get a chance to meet more people who are investing in Quebec City, and are hopefully successful at it.





BTW, Quebec City just approved the construction of a mega hockey arena, big enough to accommodate an NHL team. Quebec might be the next North American city to welcome an NHL team, is this not reason enough to invest... LOL!





Jerome
 
I see at least one insurmountable hurtle making investment a non starter. Rent to purchase price ratio is not realistic. Rent at $650/month is not a friendly investment climate.

With purchase prices in the $240,000 range I would need more in the range of $1500/month or higher to even consider a purchase.
 
[quote user=Jerome]Area`s population grew at a rate of 8.1% . over what timeframe ? Likely the last decade ?



Alberta's, for example, grew by around 20% from 2000 to 2010 !!



What about income growth ?



What about shrinking debt or deficits ?



What about unemployment rate ?
 
I'm from Montreal. In REI almost 5 years. Ex and present student of Kiyosaki, Sheets, Whitney. Open to meetings and info exchange.

I buy in Quebec and Ontario. Everything about investing and renting in other provinces is of great interest to me.



Here's one unbeatable reason to invest in Monteal, for instance: 50% of population rents.
 
[quote user=tchconst]

Here's one unbeatable reason to invest in Monteal, for instance: 50% of population rents. That's ONE reason .. but not good enough .. in BC or SK or ON or AB 35%+ rent .. so who cares really !



Is there value upside ? is there awesome cash-flow with an 80% mortgage ? Can you evict tenant if he stops paying after month 3 ? Will the economy improve ? Will Quebec leave Canada ?



Why is Gilles Duceppe in the English TV leader's debate anyway ?
 
[quote user=ThomasBeyer]Why is Gilles Duceppe in the English TV leader's debate anyway ?




Thomas,



I think you are bringing up some valid points and I will further my researches to make sure I have all the information I need to make the best possible choice. Being a junior investor, it would only make sense to me to go into an area that I know very well.



As for the whole seperation thing, I really don't want to turn this forum into a political debate.



Jerome
 
[quote user=tchconst]I buy in Quebec and Ontario.



Where in Quebec have you invested so far?



Would you say it is easier to invest in Ontario than it is in Quebec?





Jerome
 
[quote user=Jerome] I really don't want to turn this forum into a political debate.


Why not ? .. in the appropriate category of course !



Quebec's lingering potential separation (albeit a low probability, but not 0 certainly) and different culture/language/legal system PLUS HIGH DEBTS PLUS HUGE DEFICITS plus hanging on the trough of the nation is a key issue for real estate investors.



Look at the Wild Rose Party in Alberta .. huge gains as they deem the "conservatives" in AB not conservative enough .. ditto tea party in the US .. ditto in several European countries (Belgium, Netherlands, Sweden even, ...)



I think this issue (of political risk and public policy) is profoundly relevant for investors ! Profoundly !



You want to invest in a place with GROWTH and IN-MIGRATION and a positive BUSINESS CLIMATE and LOW TAXES and LOW DEBT/DEFICIT .. Quebec isn't exactly on the list here .. and not improving to my knowledge !



Educate me/other here as I am not very familiar with local Quebec developments that might be very positive for real estate investors in that province !!



SVP !!



Oui ???
 
I have properties in MOntreal. But the market goes nuts here. So right now I have an accepted offer in Shawinigan and doing my inspection I'll look at 2 more properties there. Frankly I know nothing about this city and I've never been there.

As for the Ontario, I find that the laws of the process of buying is easier, plus the agents are nicer to deal with.
 
Well, while all valid points, I can not wait to get my Quebec Passport (wick)... I live in Ottawa and I have now have 3 condos in downtown Gatineau (Hull). My target market is government/consultants for the Federal Government so I buy exclusively in downtown.



I guess you have to find your niche... across my building there are 3000 new government employees moving in the next few months. There is another new tower a few block away with another 3k+ employees (plus the existing ones). A new hockey arena is in the plans, library and a revitalization project where city is giving grants and tax breaks for new construction for 10 years.



By the way, I will be going to the ACRE in Toronto so I hope we all can meet there.
 
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