In Montreal, Canada, there are 3 main types of properties available to investors. Condos, Single Family Homes and revenue properties (2-10 units or more... can be up to 100 doors).
Out of these there is no best type of investment property, just the one which suits your goals/objectives and is viable based on your financial situation.
If you are a foreign investor looking to buy property in Montreal, any of these property types can be combined using different investment strategies or your own personal strategy to grow a healthy real estate portfolio.
- Revenue properties are a popular investment for people who currently live in Montreal or very close nearby. While revenue properties can be cheaper per sq.ft, the downside is you are responsible for any maintenance. Unlike condos, any maintenance/repairs required must be done by the owner of the property. This situation would require hiring a property manager to oversee all repairs/maintenance.
- Single Family Homes share the same common trait with maintenance and repairs being the responsibility of the owner. While a single family home can bring higher returns in increasing property value and rental income, this is subjective to the occupancy rate of the property. Single family homes can either have a great occupancy rate and normally have a single tenant for a longer period of time, or the complete reverse with a long period while trying to find the perfect tenant to occupy your property.
- Condos are the most common property selection for foreign investors as they require little to no maintenance by the owner and when well selected will maintain a high tenancy rate. Condo investments can be broken down into two sub types – Already established or new development/under-construction.