Rentals in Grande Prairie, Alberta
Hi BP gang, I am a new real estate investor looking for some tips in the rental market in and around Grande Prairie, Alberta. Specifically, I have been looking into the BRRRR method when it comes to modulars and other cheap rental properties. I am open to any and all cash flowing opportunities, but as someone who is just beginning and has limited access to financing/down payments, I am more inclined to begin with cheaper properties. Anyone have any expertise when it comes to this property type and/or the area I'm looking to invest in? Some do's and don'ts to live by or even some target percentages as to what to look for when it comes to ROI, cash on cash, etc. Any help is appreciated, thanks!
Most Popular Reply
@Adam Grendys With the current situation, you will find more properties coming onto the market in the next 6-12 months. Be patient. I realize you have limited funds. However, buying s cheap rental will get you a certain kind of clientele, which comes with more headaches. You might want to consider teaming up with someone with more experience. Don't let the limitation of money be the reason you settle for a lower class property. In terms of #, I target $100/door cash flow regardless of area. Cash on Cash, ROI and NOI, etc differ depending on area, so I can't comment on Grand Prairie.