Ottawa & Gatineau, Quebec Real Estate Market with Griffin Milks
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- เผยแพร่เมื่อ 4 ต.ค. 2024
- Today we have a special video for you because I'm collaborating with another fellow Canadian TH-camr @GriffinMilks and we discuss the Ottawa, Hull & Gatineau, Quebec real estate market which Griffin invests in.
Griffin has some amazing content on his TH-cam channel where he shares his successes, mistakes, and experiences relating to e-commerce space, personal finance, and investing with the intention to help others achieve their goals.
Did you enjoy and get value from this video with Griffin Milks? Do you want to see us do another collab video? What questions or topics should we discuss? Leave your questions or comments down below for myself & Griffin and make sure to go leave him some comments on his TH-cam channel and social media telling him you say this video!
OH, and don't forget to SMASH the like button!
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Matt McKeever is a CPA, CA and Real Estate Entrepreneur in London, Ontario. On this TH-cam Channel Matt discusses a variety or real estate and personal finance strategies and tactics. Including: How to BRRRR Real Estate, The Importance of Investing for Cash Flow, How to Reach Financial Independence Retire Early, Safe Withdrawal Rates, Frugality and Reducing Personal Consumption & Embracing Minimalism.
Matt began investing in real estate at age 25 by purchasing a student rental near Fanshawe College.
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Don't sleep on the QC market, haha! I had a blast making this one Matt, thanks for having me on 👍
Any time! We'll be in your market by the end of the year, so if you're looking to buy more get on our buyers list! mattmckeever.com/privatedeals - appreciate you showing us a peek into your market!
🔥🔥🔥🔥
Didn't know he was from the Gatineau area, this kid is a legend! 🔥
Hey Griffin! Thanks for sharing, very interesting. Any area you recommend in particular in Aylmer? any area to avoid ? Also do you have a broker contact to share ? Thanks!
Dope to see you on Matt's channel, Griffin! Looking forward to seeing more of you here, and your real estate ventures :)
Two of my favourite Canadian youtubers in one video👏🏻👏🏻👏🏻
Thanks for the support!
Hull's proximity to the core of downtown Ottawa makes it easily the most underrated place to invest and live in the national capital reigon
Can we get an updated video of Gatineau, post pandemic? And issues dealing with the Regis, etc. Even when I talk with realtors there, they often say to avoid purchasing in Gatineau due to the laws there. I'd love to know more about the areas of Gatineau and which areas are appreciating more, rental issues and the involvement of the Regis, pros and cons, etc.
Hey Matt, love the video! Having lived on both sides of the province, Gatineau has a lot of great benefits as a renter or owner. QC homes usually don’t pay for water and hydro is cheaper, but the provincial income tax rate is higher. It’s also great for families because of things like subsidized daycare and a provincial match to RESP contributions. I’ve flipped 2 homes in QC and still own a duplex so I’ve been around the block
Keep up the great work!!
Thanks for sharing! Really appreciate when people share their personal experiences in the comments!
Any other tips that Ontario investors should know when looking at buying in QC?
@@CanadianRealEstateChannel oh boy, there’s too much to cover. Despite the two cities sitting side by side, they remain two distinct cities. The fact that they sit in two different provinces exacerbates the whole situation, which might help to explain the concerns many ON investors may have toward this market (here’s an example: most contractors in Ottawa won’t touch the QC side because they’re not certified to work in that province, and vice versa).
From a renter’s side, the rents appear much cheaper on paper in Gatineau compared to similar dwellings in Ottawa, but they should usually expect an increase to their provincial tax rate and many don’t, so it could come as a shock
I could go on and on...
Hi Charles. Thanks for sharing that information. We are currently trying to decide between Gatineau and Ottawa (coming from Oakville GTA) as a young family with kids, what can you recommend us?
Gatineau boy right here 💯
Let's get some Montreal content. It's a booming market that would be fascinating to dissect.
Know any great realtors I should get connected with?
@@CanadianRealEstateChannel Check this guy Matt Christopher salador
Enjoy both of your channels and contents, Matt and Griffin! Great collab! 😊
Thanks so much!
Love this video !! I just bought a triplex in hull ! Closing in 20 days , I mostly do on short term
Short term rentals ?
Such a great video. Super informative!
Hey guys, for that 2nd property was it a legal non-conforming unit? I was under the impression that if it was legal unit at the time that it was built, but the bylaws have changed since then, that is why it would be non-conforming. I don't believe you need to fix a non-conforming unit. However the moment you make any type of updates then you're required to make it conforming.
Awesome video, and it's on my birthday :)
Hi Griffin Milks, I am directly related to the Milks Pioneers in Cantley Quebec.
Thanks guys... well explained
Cheers ✌️🇲🇰🙂
Glad you liked it! Are you looking in this market?
@@CanadianRealEstateChannel Would love to ... but I am from Macedonia ( Europe).
I live here as well.
I am not sure how to make this happen!?
Notaries in Quebec aren't the same as in the rest of Canada. In Quebec, they have what is referred to as "civil law notaries" and to become one you need to attend law school for a first-level law degree and then study for a masters of sorts in notarial law. Civil law notaries are effectively lawyers and serve a number of purposes.
In the rest of Canada, notaries are essentially just people that authenticate and stamp copies of documents.
The con is if you work in Ottawa and live in Gatineau, you will pay higher taxes to the tune of 5-10% depending on your income bracket.
Great point - does the lower cost of real estate or rent offset this?
@@CanadianRealEstateChannel I’m not an expert on this. But I heard that over time, yes, shorter term no.
It’s not where you work, it’s where you live. If you live in QC, you pay QC income tax, regardless of which side you work. I’m also no expert on this Matt, but like most markets the price for real estate should reflect the added costs/benefits. One thing that’s fun about QC is that you usually don’t pay for water and hydro is cheaper than ON. Coming from a guy who is born and raised in the region and I’ve lived and owned RE on both sides.
@@charlesmercier9507 also don't forget that car insurance is also cheaper in Quebec (especially if you have a bad driving record).
Just put more money in your rrsp
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I noticed that a lot more (Ottawa) people are buying / renting in Gatineau (plateau neighbourhood).
I have a tenant that moved from westboro (expensive Ottawa neighbourhood) to my semi-detached rental property in plateau neighbourhood. He gets more house for less price.
Also in my neighborhood (plateau as well) there have been several people moving from Ottawa.
Good info! What websites should I visit if I’m looking to rent ? Is it possible to find a single family home? Seems like all the houses on the Gatineau side are multi family apartments.
Great vid! Used to work with Mike Rosehart, found out about you through him, then randomly found out about Griffin months ago (who has been fantastic in stock analysis; great insights that have helped me grow my account). Super cool to finally see you both doing a collab vid, as I've followed Griffin's real estate ventures on his channel too, and having mentioned you in the past. Recently moved back to London to FIRE and get into real estate, but no job's put a hamper on that for now (not to mention the outrageous market spike here in London). At least the free time and EI is like a paid vacation to spend my days learning like I'm in school. Looking to get back on this channel more when I'm ready to jump into real estate... Or is there a loophole to get around that if you've got the capital, but no job to prove income?
Edit: Allll the tabs open now on all your "no money down" related vids... Hope there's answers in there for someone with capital, but no job
Hi Matt, great video, thank you! Do you know someone with this type of content in Calgary?
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|My market! Loved the video thanks guys. More Griffin Matt :)
Awesome! Are you actively investing there? What’s your opinion on the market?
@@CanadianRealEstateChannel I am not actively investing yet. I can't give you an educated opinion. I am from Ottawa and the bias about 'over the border' is definitely a thing in our local culture. You may have an advantage by focusing only on the data. Gatineau definitely has grown exponentially over the years.
Thanks for the video! I am looking to buy around Aylmer Quebec once I sell my overpriced Ottawa home. I think Duproprio is a better website for Quebec.
CENTRIS is your website for Quebec market
@@bloodessdk6530 Thank you!
FIRST!
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i have a hard time believing the potential rent presented. why would you pay 1150 for a triplex and you can get an actual apartment in Gatineau for 1200
Ottawa only has appreciated a lot in the past two years. Before then, it was really low. Also location matters to buyers, which is why Ottawa properties are going for a lot more than Gatineau. Good info anyways.
Thanks for sharing! DO you think that QC properties will catch up to Ottawa with appreciation? We've been seeing that outside the GTA vs GTA in the last couple of years.
Over time, people will be so priced out of Ottawa that Gatineau is a better option.
When I was a renter and not an owner, I dealt with shitty landlords. We should honestly stop calling ourselves Land Lords. Lol. it's why I have the Tribe name "Lord Joe Hunt"
It implies that I have power over a subject and it's just plain wrong in this day. We need to be calling ourselves property owners or something like that.
I wish I had Matt as an owner when I was a tennant. You seem so level headed.
Great point! Rebranding likely is needed
Are people of Gatineau going to hate me if I dont speak French :( ?
Bad market now. Too expensive. I will wait till people get back to big cities and small town houses dip.
What analysis are you using? From a Cashflow and rent multipler perspective and looking at demographics and vacancies looks like a strong market to me - what am I missing?
NO1 wants to live in Gatineau...
Even though it's in the 25 largest Canadian Cities with over a quarter million people? Are you aware of demographic trends that maybe we're not? Feel free to share your sources - thanks!
@@CanadianRealEstateChannel few things here;
For starters taxes are simply higher, you spoke about stigma, there is major stigma towards English speaking residents in Gatineau. Obviously there are some people that don't care but the sperationist make a large percentage of the political parties.
There is also an ongoing curfew, although it is temporary it is affecting small and medium size business
You are right about the taxes, but you can get around that issue with a good accountant. Regarding the separationists, that is simply not true. Some area of Quebec are more prone to these kind of issues than others, but Gatineau is not one of them.
I live there, I started to invest there this year, the prices are still good and there's money to make.
@@maxpfs I agree. I have family members living in Aylmer for a long, long time. Great city and the people are extremely nice. Most try to speak in the others' language and accommodation is made on both sides. Very similar to Montreal (where I grew up). Costs are relative - for locals, you pay less but you make less. Works well for the Ottawa commuters even with the tax differential.
I actually have tenants who have just left Ottawa to come live in one of my units.