FAQ

1. Is it still profitable to invest in real estate in Quebec in 2026?

Of course, it's still possible to invest in 2026, but not for the reasons you think! My killer argument, often overlooked, is that real estate is far more tax-efficient compared to the stock market. Real estate offers a tax advantage on two levels. First, the portion you occupy is tax-free, and second, the rental income is taxed as a capital gain, at 50%, compared to RRSP withdrawals which are taxed at 100%. So, even if real estate offers half the return of the stock market, it can be more profitable after taxes! And that's before even considering leverage. Real estate investment remains essential for achieving financial freedom.

The two other advantages of real estate, aside from the building's return on investment, are ongoing rental income and mortgage principal repayment. These two sources of income serve two purposes. First, they help cover the costs of owning the property, and second, they allow you to build wealth without even realizing it. This is what I call forced savings. The principal repayment means that five years later, when it's time to renew your mortgage, you could find yourself with a balance due that is $60,000 lower than expected.

Real estate is profitable in the long run. When you own property, time becomes your friend. Over the years, your rents increase, your building appreciates (as has historically been the case), and your mortgage balance (your debt) decreases. Although real estate generally offers lower returns than the stock market, it is often a more profitable investment over 30 years. Why? Because a well-structured real estate investment can easily outperform the stock market.

Finally, the factor that allows real estate to offer a higher final return than the stock market is leverage. Major banks finance 90% or even 95% of a building that the buyer will live in. This represents leverage of 20x or 10x the amount invested. Something I would never do with a stock market investment.

In summary, with taxation, leverage, discreet enrichment and rental income, real estate is, in my opinion, an unparalleled asset class for achieving financial freedom.

This type of structure allows you to build great wealth much faster than by investing $1,000 in the stock market every month for 30 years.

To maximize your chances of success, I recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

If you'd like to delve deeper into a specific topic related to your situation, schedule a coaching session with me. If you simply want to continue learning, get my book (Have Fun) or watch my webinars. Have fun!

2. How to buy a plex in Quebec?

Buying a multi-unit property starts with analyzing your financial capacity and obtaining mortgage pre-approval. A clear strategy before you begin shopping for your first purchase is key to success. This approach helps avoid many costly mistakes. This is also the subject of my book, Amuse-toit, in which I explain the entire buying process in detail, based on my own experiences.

To do this, I recommend surrounding yourself with the right people. Find a good mortgage broker and be 100% transparent with them. Many people make the mistake of trying to hide debts; it's a strategy that has never worked. Even if you have a questionable credit history, now is the time to show your squeaky-clean credentials. When you're investing in real estate, the days of secrecy are over!

Once your mortgage broker has given you the terms for your upcoming purchase, the next step is to find a real estate agent who knows the area you're interested in extremely well. Finally, I always recommend buying with at least two people. Why? Real estate is full of surprises, and it involves large sums of money. It's better to share the risk between two people than to try to take it all on alone. Or even worse, with a spouse or partner who really doesn't want to embark on this type of project.

Once you've assembled your dream team consisting of your mortgage broker, your real estate agent, and your partner, you can begin prospecting.

To maximize your chances of success, I recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

3. How much does it take to buy a rental property?

The real question shouldn't be how much money you need, but rather who you need! Who do you need to buy a rental property? That said, there are some magic numbers that certain influencers promote. The most common are $25,000 for a first duplex where you'll live and $60,000 for a 100% rental property where you'll never live.

Personally, my purchases cost me around $300,000 (in the Montreal multi-unit market). However, since I always buy with a partner, I need $150,000 for each purchase. This amount includes not only the down payment but also start-up costs, such as initial renovations, notary fees, the welcome tax, etc.

Since I no longer have the perks that come with buying your first property, nor the option of telling the bank I'll live in the building to reduce my down payment, I still have to put down at least 20%. Therefore, the required down payment amount is unique to each individual's situation.

If you want to take this question further, you should ask yourself who you need to buy your next building from to achieve your ambitions. To do this, you need to step outside your comfort zone, network, and build new business relationships.

In addition to the partnership approach, I recommend using government tools to build your initial down payment, namely the TFSA (max $40k) and the option to withdraw funds from your RRSP (max $60k). This is the best way to start.

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

4. RRSP or real estate: which is the better investment?

Right off the bat, I'm not the biggest fan of RRSPs. Yes, you get a tax refund when you invest, a kind of instant gratification for locking your money away for the future. However, what have you actually given up in return? First, you've relinquished the ability to invest that amount in meaningful personal projects before you can withdraw it, usually around age 65. Second, upon withdrawal, instead of paying 50% tax on the capital gains from a non-registered account or real estate, your gains will be 100% taxable. This means the RRSP balance is a mirage. Why? The money you see in your RRSP is potentially twice as much as the amount you'll find in your personal account, since all withdrawals are considered income and therefore fully taxable by the government. Popular belief holds that your income will be lower in retirement, hence a lower tax rate. Why subject yourself to this limiting belief? The RRSP forces you to think small by wanting to withdraw as little as possible and to stay small, because the more you grow, the more you will be punished by taxes.

Real estate is the opposite! It's a limitless investment that appreciates over the long term and benefits from more favorable tax treatment. Furthermore, unlike an RRSP, you can leverage it to propel your wealth to much greater heights, allowing you to truly achieve financial freedom and avoid having to lower your standard of living once you retire.

I see it personally; my eight plexes increase my net worth more than any high-ranking manager who only invests in stocks within their RRSP.

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

5. Is it possible to invest in real estate with an average salary?

Yes, it's not a question of how much money, but rather who you're working with. Many Quebec investors started with a full-time job and a regular income. The key is often financial preparation, education, networking, and choosing the right project.

I even think that with an average salary, you have a head start! It means you're comfortable with the concept of income and expenses. You've also already filed a few tax returns. So you have some essential financial experience for success. However, that doesn't mean you should buy just anything, and certainly not on your own. There's a good chance that you won't be able to buy a worthwhile property on your own. You'll need to find partners. To do this, choose passionate people who want to invest their time and effort and who have skills that complement yours. And not your uncle or grandfather who don't know the basics of today's market.

It's also important to know that banks love lending to employees with a stable income and a good credit history. So, don't quit your job before committing to real estate full-time! In my case, I'm still employed full-time, but I manage all my real estate part-time outside of my work hours!

In short, having a salary is an advantage, even if it's not as high as you'd like. Instead, use your enviable situation to find partners to invest with.

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

6. Is it too late to start investing in real estate?

It's never too late to invest in real estate. I subscribe to the popular saying that the best time to buy was yesterday, and the second best time is today! I truly believe in the positive effect of time on long-term property ownership in Quebec. Over time, your property will appreciate, and you'll pay off your mortgage. As long as there's inflation, properties will appreciate. In a developed country like Canada, inflation is inevitable. Even though multi-unit building prices are higher than they were 10 years ago, and the costs of accessing a building are exorbitant with the welcome tax, over 30 years, I'd bet that anyone with a good education could become a millionaire with a small, well-maintained, and well-managed multi-unit building in an economically growing area.

Each generation has faced its challenges. Baby boomers experienced interest rates as high as 18%. Generation X faced housing shortages and sluggish financial markets. Meanwhile, Generation Y benefits from historically low interest rates and strong rental demand. Their challenge is the price of homes, and there are several strategies to overcome this obstacle.

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

7. How to achieve financial freedom rather than traditional retirement?

The traditional retirement model involves living off one's RRSP or pension fund starting at age 65. However, this requires lowering one's standard of living once the time comes, since people haven't accumulated enough RRSPs. They then find themselves with plenty of free time, but financial constraints force them to forgo helping their children and grandchildren. In most cases, the strategy is to sell their house, downsize, and hope to stay healthy as long as possible, because they can't afford a retirement savings plan for 20 years. This scenario is, in my opinion, depressing.

The goal is not only to achieve financial freedom earlier (say, 50 or 55), but above all, to avoid having to slow down. I would even say to aim for the opposite: to increase it. Why not travel, help your children and grandchildren, start ambitious projects, once you're 60? Society teaches us to restrict ourselves to survive, to aim low, to scale back once we retire. I don't agree with that.

How can you achieve financial freedom faster without depriving yourself? You need to acquire income-generating assets, not accumulate gold coins in a safe. Although, in hindsight, that would have been a pretty good move. You need to set up an asset structure that becomes an ATM, available to you whenever you want it.

To do this, I'm familiar with real estate investment, but it could also be business acquisition, which is becoming increasingly accessible with the current wave of business takeovers. Find your style!

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

8. Is it possible to invest without becoming a full-time manager?

With the right structure and the right partners, anything is possible. The dilemma is often that the more you do yourself, the higher your net income will be. Conversely, the more people you hire to do the work for you, the lower your current income will be. You need to find a balance you're comfortable with. From the outset, try to surround yourself with the right people, establish your project's vision, and find partners who are aligned with that vision.

I'm living proof: I still have my full-time job and I manage over 150 properties part-time! To make it work, I've delegated everything that requires my time during the week and 95% of the requests that require me to travel on weekends. This structure certainly prevents me from generating more cash flow on my real estate projects. However, since it allows me to keep my full-time job, I believe I'm still coming out ahead in the long run.

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

9. What is the biggest mistake new investors make?

The biggest mistake is to remain inactive and call yourself an investor without ever becoming one. An investor is in the thick of things, makes deals, makes mistakes, and moves forward despite the storm. If you wait until you're good enough to never make a mistake, you'll never start.

The ideal approach is to aim for a mix of learning and taking action. Define what kind of business you want to develop, then establish where to find the information you need to build your skills. Find the right investor networks that can inspire you, or even help you. You need to develop a strategy that will lead you to take action, either by meeting with established investors or by partnering with people who share your goals.

At the same time, start exploring investment opportunities. It's better to buy a duplex and fail than to overanalyze for years without ever acquiring an asset. Paralysis is the biggest mistake new investors make.

Don't wait for the perfect deal that will guarantee a 100% success rate or an unexpected return. It's okay to make mistakes. You have to put your ego aside and accept that you won't be perfect. You need to surround yourself with the right people, stay curious, and be open to all the unexpected.

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

10. How to analyze a duplex or triplex?

I recommend a top-down approach. That is, start by understanding the market in Quebec, identify your sector, then zoom in down to the type of building and finally the rent per unit.

Most of the time, for your first purchase, you don't need to analyze the Quebec market because you already have your preferred area in mind: near your work, where you grew up, where your parents live, etc. Your first investment should always be in an area you know personally. An area you've walked through, whose history and vibe you know, and that you've seen develop.

This knowledge will allow you to assess economic activity and thus ensure that your rents can continue to increase without worry. On the other hand, if there are many vacancies in your area and employment is struggling, your potential is lower. Keep a long-term vision; I always have a long-term vision, I think about what I will leave to my children in 50 years.

Now that you've established your market segment, you need to analyze the revenue. Often, listings will mention a potential income of $20,000 per year. You need to determine if this is the actual rent charged by current tenants or an estimated rent provided by the seller for a vacant unit.

Next, if it's a multi-unit building you're going to live in, you need to make sure that all your housing costs minus your rental income do not exceed 30% of your gross income.

After the mortgage, major expenses include municipal taxes, school taxes, insurance premiums, and heating costs. Services such as internet and snow removal may also be necessary. These should not be underestimated.

Then, I always recommend setting aside a small emergency budget of $100 a month. It helps you feel less angry when emergencies do occur. Instead of thinking, "Damn, I'm so unlucky, and on top of that, I don't have a cent," you'll think, "Oh well, it's okay, I have money saved up for that."

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

11. Is it possible to invest with partners?

Yes. Personally, I only invest with partners. For two reasons:

1. Capital contribution

Investing in real estate is very capital-intensive. Initially, the money has to come from your own pocket, and finding $200,000 isn't easy for everyone. In fact, I started with only $9,000! So I had to partner with people who had more capital to successfully acquire my first property.

2. Support moral

I often say it. Bad luck when you're alone is a tragedy, but bad luck when you're with a friend becomes a funny story. This philosophy isn't just true for misfortunes, but also for victories! Celebrating a victory alone is almost sad. On the other hand, celebrating a victory with a group is a gift of life.

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

12. Why do so many Quebecers never reach their financial goals?

The traditional model that allowed baby boomers to become wealthy no longer works for the vast majority of subsequent generations. This is due to the following factors:

1. Inflation is rising faster than wages

Inflation in recent years has increased more than wages, forcing people to lower their standard of living to preserve their ability to save.

2. House prices are rising faster than wages

House prices have risen more than inflation, so those who already own homes are getting richer and widening the gap with first-time buyers.

3. The desire to save decreases

To save, you have to forgo immediate gratification, like a nice car or a trip that looks great on social media. This is something few people are able to do. This mentality of instant gratification leads people to see saving as a sacrifice, not a reward. We need to break this way of thinking.

4. We have been working in the same place for over 35 years

Previously, if you spent 35 years in the same place, you had a pension plan with your employer. Now, by changing jobs several times, you become responsible for your own pension. Therefore, more structure and financial responsibility are necessary.

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

13. How much does it take to retire in Quebec?

My magic number is $3 million. To find out why, follow me on social media! I know, it's probably way more than 95% of Quebecers need, but I'd rather aim high and miss the mark a little than aim low and end up disappointed. For me, retirement doesn't mean lowering my standard of living. I'd even say I'm aiming for the opposite. In 30 years, people who are 65 will be living healthy lives, past 110. It will be a huge opportunity to travel, build new projects, and help your grandchildren. It would be a shame to be stuck at home for 40 years because you have to lower your standard of living. Retirement as we know it will no longer exist. Instead of being the beginning of the end, it will be the beginning of a new phase of growth!

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

14. Is real estate riskier than the stock market?

I have a master's degree in financial risk management. I even wrote my thesis on the subject. I consider myself an expert in risk analysis. Although I'm a real estate enthusiast, my answer might surprise you. I do think real estate is riskier than the stock market, for several reasons. First, the information is less transparent. Second, it's a highly regulated industry, though much less so than the stock market. Finally, the leverage is higher. These three factors make real estate investment riskier in theory. However, risk implies risk management. Therefore, I think it's easier to manage real estate risks than stock market risks. Why? Because I have very little control over the price movement of a stock, but I can do a lot with my property to increase its value.

My thesis reinforces the hypothesis that it pays to train in real estate, because, once you master the risks, you control an investment tool that is much more powerful than the stock market.

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!

15. Why collaborate with Alexandre Carboni?

I have a unique dual-disciplinary background in financial markets and real estate investment. I hold a Master's degree in Finance from HEC Montréal, have over 20 years of experience in financial markets, have managed more than 120 residential properties, and am an active real estate investor in Montreal with a tenant-centric approach. I am also an author and speaker on real estate and financial literacy. My approach is based on hands-on experience, pedagogy, and concrete strategies adapted to the Quebec context.

Over the years, I have built my network of experts to deal with all the surprises that real estate investment can bring.

I am very skilled in operational management, financial analysis of buildings, rental management, and overseeing renovation work. Currently, my biggest limitation is the capital needed to invest in my future projects.

16. What is the first step to building financial freedom? (100 words)

First, it takes awakening! Without awakening, there's no desire; without desire, no discipline; without discipline, no pleasure! Then, it takes a goal: how much, when, how, and with whom? Next, it takes a plan. Finally, it takes knowledge, and ultimately, it takes a strategy to acquire that knowledge!

To maximize your chances of success, I always recommend starting with low-cost education. This could involve networking events, podcasts, and of course, books!