Investment Properties

Common questions

Is Saskatchewan a good place to buy investment property?

Saskatchewan offers some of the lowest purchase prices per door in Canada alongside strong rental demand in Saskatoon and Regina, which is why investors from Alberta, British Columbia and Ontario make up a large share of buyers. Cap rates are typically higher than in the larger Canadian markets. Each deal still has to be checked on its own numbers.

How do I buy an apartment building in Saskatoon?

Start with your financing: lenders treat buildings of five or more units as commercial, and CMHC-insured multi-family financing has its own requirements. Then define your criteria (unit count, location, condition, price), review the rent roll and expenses on candidate buildings, and write a conditional offer that leaves time for financing, inspection and a review of leases and estoppels. Scott walks clients through each of these steps.

Do you work with first-time investors?

Yes. Many clients start with a single rental house, a condo or a fourplex and build from there.

How do I finance a multi-family building, and how should the deal be structured?

Financing drives the structure of most multi-family deals in Saskatchewan. Buildings of five or more units are financed as commercial mortgages, and the strongest option for many buyers is CMHC-insured financing, including the CMHC MLI Select program. MLI Select rewards buildings that meet affordability, energy-efficiency or accessibility criteria with higher loan-to-value ratios, longer amortizations and lower insurance premiums, which can mean a smaller down payment and better cash flow than conventional financing. Scott is very familiar with CMHC multi-family financing and the MLI Select program, and works with buyers and their lenders or mortgage brokers from the first look at a building: confirming the rent roll and operating numbers support the loan, setting the conditional period so there is time for the CMHC process, and structuring the offer, deposits and closing date around the financing. For buyers using vendor take-back financing, partnerships or holding companies, Scott helps map out the structure before the offer is written so there are no surprises at closing.

Who looks after the building once I own it?

Scott has good working relationships with property managers across Saskatoon and Saskatchewan and can introduce you to managers who fit the size and type of building you are buying, whether that is a single fourplex or a multi-building portfolio. For out-of-province and international investors this is often the first question, and having a manager lined up before closing makes the takeover of tenants, leases and maintenance much smoother.

What is vendor financing, and do you handle vendor-financed deals?

Vendor financing, also called a vendor take-back (VTB) mortgage, is when the seller lends part of the purchase price to the buyer and is paid back over time, usually secured by a mortgage on the property. It can bridge the gap between what a lender will advance and what a buyer has for a down payment, let a seller command a stronger price or spread out the tax on a sale, and get a deal done that conventional financing alone would not. Scott has extensive experience structuring and closing vendor-financed transactions on commercial and multi-family properties across Saskatchewan: the amount and term of the take-back, the interest rate, how it ranks behind the first mortgage, and the conditions both sides need to feel protected. If you are a buyer who needs a seller to carry part of the price, or an owner considering carrying paper to sell your building, Scott can walk you through how it would work on your deal.

Do you have contacts for environmental audits, building condition assessments and appraisals?

Yes. Commercial and multi-family lenders typically require a Phase I environmental site assessment, a building condition assessment (BCA) and a commercial appraisal before they will fund, and the timing of those reports often decides whether a deal closes on schedule. Through a large number of investment property transactions, Scott has built strong working relationships with the environmental consultants, building inspectors and engineers, and accredited commercial appraisers that lenders in Saskatchewan rely on. He can connect you with the right firms early, help you order the reports your lender will actually accept, and keep them moving so your financing condition is met on time.

Are you aware of any off-market multi-family or commercial buildings for sale?

It depends on the timing, but there is a good chance the answer is yes. Because Scott works with investors and building owners every day, he usually has a few “back pocket” properties at any given time: owners who have said they would sell at the right price but have not put the building on the MLS, portfolios being quietly shopped, and buildings coming to market in the weeks ahead. These are never advertised on the website. The best way to find out what might fit your criteria is to call or text Scott directly at (306) 202-7791 with the type of property, the location and the price range you are looking for, and he will tell you what he knows about.

Can you help me sell my building?

Yes. See Sell Your Building for how listings are priced, marketed and closed, or request a free valuation.