Real Estate investment in Canada?

[jinx2007]

Folks, over the holidays in NY recently, I came across a Realtor from Canada...it appears that property scene is really hot there, specifically around Toronto area where it seems over 300K families immigrate every year. I've been considering investment in India, but unfortunately I've remained a window shopper considering the challenges involved, specifically if you decide to buy a plot which fetches most returns. In the US, I've considered investing in Florida, but couldn't make-up my mind - still nervous with US real estate scene. The other reason I am considering Canada/Ontario area is because I have a few of my close relatives in that vicinity and are willing to help.

So, any experience investing in Canadian real estate...? I was thinking about a condo or town home in $250K to $300K range with around 20% down payment with assistance from my relatives (for loan, ownership, etc). Hopefully the rent could cover for mortgage, maintenance and taxes I am assuming...? The realtor claimed between 10%-15% price escalation per year and that would mean ~ $100K in gains in around 3 years! Though it sounds cool, I am sure there will be tax & other implications which I am unable to see fully and comprehend. Appreciate, inputs, comments, experiences...

[manukarnika]

Explore vancouver, prices go up faster there.

[direstraits88]

Folks, over the holidays in NY recently, I came across a Realtor from Canada...it appears that property scene is really hot there, specifically around Toronto area where it seems over 300K families immigrate every year. I've been considering investment in India, but unfortunately I've remained a window shopper considering the challenges involved, specifically if you decide to buy a plot which fetches most returns. In the US, I've considered investing in Florida, but couldn't make-up my mind - still nervous with US real estate scene. The other reason I am considering Canada/Ontario area is because I have a few of my close relatives in that vicinity and are willing to help.

So, any experience investing in Canadian real estate...? I was thinking about a condo or town home in $250K to $300K range with around 20% down payment with assistance from my relatives (for loan, ownership, etc). Hopefully the rent could cover for mortgage, maintenance and taxes I am assuming...? The realtor claimed between 10%-15% price escalation per year and that would mean ~ $100K in gains in around 3 years! Though it sounds cool, I am sure there will be tax & other implications which I am unable to see fully and comprehend. Appreciate, inputs, comments, experiences...

So a realtor wants to sell you a house in Canada. And mentions the windfall of 100k in 3 years.

Put 60k and make 100k. Easy peasy !!

I guess he was able to maintain a straight face during this sales pitch to you!:))

You are late to the Canada RE party. Prices went up rapidly over past few years. There's already talk of price bubble due to rampant lending. RE prices in canada are also higher than US.

And the 300k immigrants annually.. Most of them depend on the govt for the first year. These are not typical desi folks who start earning 80-100k immediately after moving to USA. Most of them start working in minimum paying jobs, go back to school struggle for a decade, before they can get a proper job in canada.