Real Estate Investor · Edmonton, Alberta · Member since 2016 · 35 posts · 9 votes
While I appreciate BP is a U.S based platform, I am always curious how many investors in Canada is lurking on this board, and lots of opportunities were missed. While our group focus mainly in Alberta, we would love to network with investors out in BC, ON, MB, SK, and the eastern region.
I just like a show of hands to see who's active in this forum, and would like to focus on a Canadian cities for investment?
It all really depends on what your investment criteria is. You can buy for cash flow; or you can buy for appreciation (either forced through rehab and mgt or market appreciation); or you can buy a property that is a hybrid between these two. Personally, we prefer to buy in locations that will return cash flow, but also has appreciation. (Our investing criteria is at least 10-12% Cash on Cash returns annually). We currently have 1300+ units investing with this criteria. The only way I can see buying in Calgary or similar markets, is if you feel appreciation is going to be very high.
"The Real Estate Guys" basically say...live where you want to live and invest where the deals make sense.
@Chris Chang - I see from your profile you invest in rent-to-own - I would be keen to know more if possible please, as I am interested to do it here....what percentage of your real estate assets is rent-to-own?
Hello @Sarah Simpson, the Edmonton market is fairly stable, as we do mostly RTO here. Calgary market, as tough as it is (due to the oil and gas industry), we still believe that it's the market to be. We are definitely getting more inquiries into RTO since the new announcement of the new lending rules as it will tighten up the ability to qualify for properties.
As crazy as it sounds, RTO is doable in B.C, we do know people that does it in the red hot market of Vancouver. Let me know if you have any further questions.
Interesting thanks @Chris Chang - re the new lending rules, that's why I am interested in doing it here...not surprising you are getting more enquires...I may reach out to you in the future if you don't mind. Thanks again.
Hello everyone! I sure do miss Calgary, after living there for 25 years.
To add to your discussion, check out the forum topic list and look for 'Local Real Estate' as there is a Canadian section.
Hope that helps!
Marc Lavoie Je suis de Montréal aussi. J'aime tes objectifs clairs et ta confiance. Je suis toujours aux études présentement, mais peut-être que dans le future il y aura des opportunités pour qu'on puisse travailler ensemble
is there anyone here on BP getting properties below market value?, say 15 or even 20 percent below to have a enough gap for profit in the Montreal area?
@Chris Chang - Yes, I love Edmonton as a place to invest - I certainly plan on getting back out there!
Ahh student rentals. They cash flow well, but students can be a real pain. I think it you're willing to put in the work to manage them, they can be a great investments. It's what attracted me to them in the first place.
But I'm at a different point in my investing now. For me, my time is better spent managing contractors these days.
Just bought our first multifamily in Northern Ontario - loving it so far! Looking to stick close to home for now since my partner and I are planning to house hack to get the ball rolling. Hopefully someday we will be able to invest at a distance as our portfolio grows.
I'm a lender in California and I can help any of you looking to buy state side. By the way I was born in Toronto, raised in Oakville, Ont and now live in California for 16 years now :)
Hi Chris Chang thanks for starting the conversation. I'm an investor and mortgage agent in SW Ontario. I'm always willing to connect and chat about the trends in my area. Msg me anytime!
Adam Fisher hey thanks for the reply. Edmonton market is definitely fairly stable, we haven't seen any spike of vacancies. Heck I drove past a C Neighbourhood everyday, and it's all fully tenanted (multi families)
And just in today, the news of worst crash is over
by two major oil companies. We have faith and believe the real estate is always a cycle of up and down, and it's been so down during the past 2 years, it's unbelievable. A wise man once said, when people are fearful, be greedy! Feel free to reach out to me if you have any questions!
http://calgaryherald.com/storyline/schlumberger-and-halliburton-both-say-the-worst-of-the-oil-market-crash-is-over