All Forum Posts by: Amy Colin

@Peter Yun

Hi Peter, I flip in Edmonton.

An finished basement will definitely increase the value of the house.

Also, don't forget about curb appeal, very important!!

@Nathan Hillier

That's awesome Nathan! Good luck to you. It is indeed very lucrative investing in the States!

@Joe Iradukunda

You can definitely find properties that can flow using the BRRR strategy in Edmonton. We have two right now.

@Nathan Hillier

We invested in the states too but found no one that would refinance our <$60,000 properties. We were told it was very difficult for Americans, let alone Canadians to find lenders willing to refi such a low value property. So we ended up selling do we would have access to all that money again. That was about three years ago. Have things changed since then? Are you able to refi as Canadians on low value properties?

@Cara O'Donnell

You're welcome! Feel free to message me if you want to chat real estate. :)

@Cara O'Donnell

Not sure what you ended up doing but do NOT buy eastwood. parkdale is a no no too. alberta avenue NO. google 'black triangle Edmonton real estate'. 

Some areas that are still affordable but have a better tenant profile: Bellevue, Beverly, Highlands, Rundle Heights. The closer you are to the Yellowhead, the less desireable the area becomes in these neighbourhoods. These areas seem to be different from street to street so have a good drive around before you commit.

Good luck!

Hi @Chris Muller! We started investing in the Edmonton market in 2009, took a break, and started investing again in 2016. We have some rentals and have done several flips. Looking to network and also to seek partners for both long-term holds and flip projects. 

I grew up in Edmonton and have seen it change. Though I'm not a realtor I feel like I know the city fairly well.

1) Good areas/bad areas. If you google 'Edmonton black triangle' you'll get a fairly good idea of what areas to stay away from. This area always looks great on paper - low purchase price, good cash flow. However, the appreciation is not there and the tenant profile isn't great. I have a friend who owned a house in this area for 15 yrs. She recently sold it for $50,000 more than what she bought it for FIFTEEN years ago, and that was with $30,000 of renovations before she put it on the market. And during those fifteen years, she had nightmare tenants to deal with.

The good: the northeast is a decent area. Affordable, good cash flow, long-term tenants. West end and most of the southside is very decent too. There are lots of new builds around Anthony Henday. Low maintenance,good tenant profile but very little appreciation for the next little while.

South-central is my sweet spot. Good appreciation, good tenant profile, good opportunities for forced appreciation.

2) Rents - somewhat dependent on location but generally: https://www.rentboard.ca/rentals/rental_rates.aspx?locid=207&psttyid=10

Hope that helped, feel free to message me if you need any more info.

Amy

@Chris Muller

@Ash Badry

Please excuse my ignorance but what is a RSP second mortgage?

This article makes it sound like wholesaling if ILLEGAL in Canada, anyone know the definitive answer?

http://www.theprovince.com/business/former+wholesaler+lifts+dark+side+vancouver+real+estate+market/11771306/story.html

This is a single family house located in Houston. Easy to rent out at $1,000/month. 18% ROI!!!!