Saskatoon, Saskatchewan Canada

[Kyle Gryba]

Hey Everyone,

First time posting. Just checking to see who's out there from the Saskatoon, Martensville or Warman?

[Mark Neudorf]

I really have nothing to do with Martensville for whatever reason, but we have 2 4plexs and a duplex in Warman which have already been very easy to rent for as much, or more, than comparable properties in Saskatoon.  There’s definitely less competition in those 2 markets, but prices are pretty high, even more so in Warman.  There’s also very few older homes in Warman and Martensville which makes it hard to find a deal.

Our Rosthern apartment has been great, especially over the past 18 months, but typically there is a higher turnover rate there, I think partially due to its proximity to the reserve.

Multi family properties in Saskatoon make no sense atm, most are selling with a 4.5cap. I feel like part of the problem is BP and REIGS type groups encouraging people to go into real estate full time with inflated and 1 in a million success stories, when these people are far from having the capacity to close on an apartment. But they call all the owners thinking their gonna JV, seller finance etc. Just like they do on all the podcasts. Now all the landlords think they're sitting on $$$ and the crazy part is that people are paying it!

Sorry, that turned into a rant!