Barrie and Orillia are two markets that are rife with good investment opportunities for investors, according to investor and agent Kraig Schwartz.
“When it comes to investing in Barrie and Orillia there are two factors to consider: They’re both affordable and one is established while the other is up-and-coming,” Schwartz told CREW.
Barrie is the established market while Orillia has not yet reached its full potential.
“In Orillia, it’s a great time to jump in and buy-and-hold; prices are cheap and rents are good,” Schwartz said. “Rents are about 80-85% lower than in Barrie but homes are 1/3 to ½ cheaper.”
Schwartz says the average home in Orillia goes for $250,000 compared to the average of $410,538 in Barrie.
“You get great tenants in and you have the ability to choose which tenants you want,” Schwartz said, noting that the current vacancy rate in Orillia is 1.3%. “The tenants who want to rent want to live long-term as well.”
Although Orillia has its upside, so too does Barrie.
The current vacancy rate is 1.6% in the Golden Horseshoe city, and its close proximity to Toronto makes it attractive to both investors and renters.
Further, its Go Train line is set to receive even more trains going to and from the city, according to Schwartz.
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Just outside the GTA are two hot investment spots that offer two different kinds of value to potential investors, according to one veteran.