First, a question.
Where in Canada can you find an affordable home that you can purchase, then with whatever restoration is required, taxes, property management fees, etc. actually still have enough left over to create real cash flow?
According to this, the answer may just be ‘almost nowhere in Canada’.
According to Demographia International…. Canadian home prices have risen 31 per cent from their trough in early 2009, to stand 13 per cent above their pre-crisis peak. Today, the average selling price of a home in Vancouver is nearly 11 times the average Vancouver family’s household income. Nationally, the home price-to-income ratio is 4.4.
At the same time, U.S. properties are selling at up to 70% off. America has become a nation of renters. Right now there are about 2.2 million Americans who are leaving foreclosed homes and looking for rental properties.
Doesn’t it make good sense to have them renting from you?
You know the key components in real estate are location, location and location.
Today and for a lengthy, extended period that location is the U.S.