In the Real Estate Investment Network’s new Top Ontario Investment Towns Report for 2011-2015, Barrie has once again come in as the #3 town (alongside Orillia). Last week, I had the opportunity to interview Shannon Murree who is an investment focused Realtor in the Barrie area. In this brief (3min 40sec) Shannon shares her local expertise by covering the following:
- What’s going on in Barrie?
- What’s going on with the GO Train?
- What are the best investment areas?
- Which areas should investors stay away from?
If time is a constraint for you, I’ve also summarized some of the key points below the video.
Direct Video Link: http://www.youtube.com/watch?v=_t8l5lQZ7dk
Video Summary
Here are a few facts from my interview with Shannon which anyone interested in learning more about investing in Barrie will find useful.
What’s going on in Barrie?
- Park Place – one of Canada’s first “open air” mixed use centres
- New malls & retail in development
- Expanding student residences
- Royal Victoria Hospital (RVH) expansion
- Laurentian@Georgian partnership
What’s going on with the GO Train?
- Currently resurfacing the stage of the Allendale GO station
- Recent GO Train improvements have already had a positive impact
What are the best areas for investment in Barrie?
- Freehold properties or downtown waterfront condos are some of the preferred property types for Barrie investors
- Great income properties exist all across the city depending on what tenant profile investors wish to target
What areas should investors stay away from?
- There are bad pockets scattered throughout Barrie so it is important to work with a geographic specialist
Shannon’s Bio
Shannon Murree (@RealtorChicky) is a full time real estate professional, multi-faceted business woman aspiring to empower women & all people. In home ownership, rentals, rent to own or real estate investing. As a REIN member and Realtor who works with several investors, Shannon understands what drives the local real estate market and is an expert in Barrie real estate.
To contact Shannon visit www.InvestingInBarrie.com.
I have always considered Barrie a good area personally for rentals compared to Hamilton, easier access from GTA as well. So interesting perspective on both cities!
Hi KK,
The two cities are about the same distance from the GTA depending on where you live. From my place I think Hamilton is a little closer.
Have you evaluated any multi-family deals in either city? What did you find were the main differences?
Cheers,
Andrew
Personally I believe Barrie seems more of a stable market and better tenant profile compared to Hamilton. In the past I have consider Barrie, Oshawa, and Hamilton as they are easier markets to break into. However, I would say the problem with Hamilton and Oshawa which makes them rank lower is the supply of available apartments. At any one point the available supply in those markets is double the supply in Barrie, looking at craigslist and Kijiji, the number of days listed seem longer as well meaning supply is more than demand in general so less pressure on rents to increase.
Just some thoughts….