Young and Looking to get into Real estate investing Edmonton
Member since 2022 · 5 posts · 0 votes
I'm currently in University and have a good amount saved for a downpayment on a property living with my parents and working and saving like crazy over the last 4 years here in Edmonton Alberta, looking to find like-minded individuals, and find great connections like other investors, realtors, property managers, handymen and etc.. where we can work together to find great deals and I can begin building a solid foundation while still in university, so that when I'm out I can really begin my journey
Thank you :)
Hi Faisal, welcome to BiggerPockets. It’s great to see another Edmonton local join the group. I think you have a strong approach to starting in property investing. Networking with the community and having friends and contacts in place before you start seems like a prime example of starting with the end in mind. If you don’t mind, I would like to know what you are studying at university, you seem to have a different mindset from the average student and I’m curious about what direction you are headed.
Keep at it and remember the hardest part is just getting moving, so build your team and get out there!
Hey I’m a real estate investor in Calgary send me a msg if you would like to collaborate!
I'm in Calgary, love to connect with you guys. I want to get a group together for Canadian investors to communicate and share knowledge. Started a subreddit the other day, let me know if you guys are interested in joining. Nothing in there yet, but I'm hoping to get it started.
I'm new to Edmonton as well.. looking at the markets and neighborhoods. Would love to connect with a local expert to understand what are the best places to buy (2-4 units) and what to look out for
I'm in Calgary, love to connect with you guys. I want to get a group together for Canadian investors to communicate and share knowledge. Started a subreddit the other day, let me know if you guys are interested in joining. Nothing in there yet, but I'm hoping to get it started.
Hey Stevo, send me a link to the subreddit. I'd be interested.
I'm in Calgary, love to connect with you guys. I want to get a group together for Canadian investors to communicate and share knowledge. Started a subreddit the other day, let me know if you guys are interested in joining. Nothing in there yet, but I'm hoping to get it started.
Hey Stevo, send me a link to the subreddit. I'd be interested.
Sent you the link in a message! Love to grow the Canadian community!
Hey I have properties in Edmonton. Invest in the West End, South West or newer communities like Chapelle. Stay away from NE
Try to get a Single or duplex, not a big fan of townhomes or condos.
Cheers
Hi Jay,
Thank you for the details regarding best parts of Edmonton to invest. I have owned a SFH with a separate basement unit in Edmonton for 5 years. This is why I have been thinking about purchasing another property in the city for some time now. Could you please share your thoughts on why condos are not the best option for investment? I am just interested to hear what is not good about them.
Thank you!
I'm in Calgary, love to connect with you guys. I want to get a group together for Canadian investors to communicate and share knowledge. Started a subreddit the other day, let me know if you guys are interested in joining. Nothing in there yet, but I'm hoping to get it started.
Hi Stevo, could you please share the link to the subreddit. I would like to join as well. Thank you!
I'm in Calgary, love to connect with you guys. I want to get a group together for Canadian investors to communicate and share knowledge. Started a subreddit the other day, let me know if you guys are interested in joining. Nothing in there yet, but I'm hoping to get it started.
Hi Stevo, could you please share the link to the subreddit. I would like to join as well. Thank you!
Hi Faisal, welcome to BiggerPockets. It’s great to see another Edmonton local join the group. I think you have a strong approach to starting in property investing. Networking with the community and having friends and contacts in place before you start seems like a prime example of starting with the end in mind. If you don’t mind, I would like to know what you are studying at university, you seem to have a different mindset from the average student and I’m curious about what direction you are headed.
Keep at it and remember the hardest part is just getting moving, so build your team and get out there!
That is an interesting suggestion to look in the south west. I love the southwest and have lived in Chappelle for 8 years. I might not have been paying attention but I don’t know if I have seen many rentals in that time. The housing price seems like it would be hard to make the numbers work as I don’t know if the rent could support it. I suppose it would make for a pretty hands off landlord experience as most of the houses are only 5-10 years old and you could probably find some pretty good tenants, but I don’t see much in the way of cash flow. Have you found many houses where the numbers work out?
Hey I have properties in Edmonton. Invest in the West End, South West or newer communities like Chapelle. Stay away from NE
Try to get a Single or duplex, not a big fan of townhomes or condos.
Cheers
Hi Jay,
Thank you for the details regarding best parts of Edmonton to invest. I have owned a SFH with a separate basement unit in Edmonton for 5 years. This is why I have been thinking about purchasing another property in the city for some time now. Could you please share your thoughts on why condos are not the best option for investment? I am just interested to hear what is not good about them.
Thank you!
Hi Anna,
You are doing great, having a house with separate basement it's like having two properties in one...
and that's actually one of the best reasons why I preferred them than condos, with condos You are ALWAYS under the approval of the condo board bylaws, also the maintenance fees can jump a lot ear over year, if there is a repair to do in the building and the reserve of the building is short then owners will have to put money from their own pocket to fix it, this can be sometimes very expensive, like in the ten thousands sometimes. If you are doing a reno you have to deal with neighbors and the condo board and their approved hours and BS. I am not saying you can't money with condos but I just preferred to have flexibility with my ideas or projects.
With a house you can always develop the basement or if you buy an old house you can rezone it and redevelop it. Also houses gets more value or at least it's my perception. There are a lot of opportunities now its depends of your goals, budget, etc. Try to invest close to the future LRT, Terwillegar Rec Centre is a very desirable area, Secord community is getting their Rec Centre so this area is booming and will get lot of value.
My partner has lots of condos and he is selling lots of them told me the same thing, "I am tired of this condos fees... "
That is an interesting suggestion to look in the south west. I love the southwest and have lived in Chappelle for 8 years. I might not have been paying attention but I don’t know if I have seen many rentals in that time. The housing price seems like it would be hard to make the numbers work as I don’t know if the rent could support it. I suppose it would make for a pretty hands off landlord experience as most of the houses are only 5-10 years old and you could probably find some pretty good tenants, but I don’t see much in the way of cash flow. Have you found many houses where the numbers work out?
Hi Marshall,
Chapelle and Creekwood Chappelle has been growing like crazy, now the 41 AVE its open and it connects to the Airport so fast and conveniently, also that area is gonna have lots of retail in the short future.
People are buying small duplexes with LEGAL Basements with separate entrances and furnished them for almost nothing and get $1200 monthly + the top usually $1800+ so you can get $3000. I mean is different game than yours, at the end of the day there are many ways in Real estate.
For example I don't deal with unfurnished properties or long term tenants ( I hated the idea that tenants have more rights than the landlords). Me and my wife structure a property management business for corporate and travelers stays ( we got control over our properties). I don't deal with clients or any of that area that's my wife department and she gets a fat commission for it, more than the average property management company out there.
The cashflow is way better than long term tenants, like wayyy more, and also I can enjoy my properties from time to time, the wife loves that...
The numbers always have worked out more than long term tenants. I want to mention that also the success of this model is thanks to my wife and her service she does an amazing job so the property management in this case is KEY many real estate landlords/investors don't choose right and then ended up with over charges, repairs that sometimes didn't happen, and that kind of stuffs, its hard to trust but that's how it is out there.
Rentals are great but I want to create my own projects/developments now and start selling.
Good luck in your journey and you got more balls than many out there. Sometimes you just gotta jump and if you fail you get up again.
That was truly eye opening. I had not considered real estate from a short term rental point of view at all. I want to thank you, that was very informative and perspective changing.
I looked through your post and saw you haven’t created anything about your experience with the short term rentals and developments. I would love to hear about it and I’m sure it would be a hit on the site! You should consider it, there is a very readable sort of a quality to your writing.
Anyway I could not agree more about Chappelle being a great neighborhood. I walk around and am blown away by the amount of high quality small commercial buildings that are mixed into the residential. It is a very different feel from the rest of the city and I think it will prove very popular as time goes on. I have been a fan of it since I saw the city development plan for the area, when I bought a place out here (primary residence) my house was in a farmers field back then. That was a while ago now.
I'm in Calgary, love to connect with you guys. I want to get a group together for Canadian investors to communicate and share knowledge. Started a subreddit the other day, let me know if you guys are interested in joining. Nothing in there yet, but I'm hoping to get it started.
Hey Stevo I just got back on here I would love to join and connect with you!!
Hi Faisal, welcome to BiggerPockets. It’s great to see another Edmonton local join the group. I think you have a strong approach to starting in property investing. Networking with the community and having friends and contacts in place before you start seems like a prime example of starting with the end in mind. If you don’t mind, I would like to know what you are studying at university, you seem to have a different mindset from the average student and I’m curious about what direction you are headed.
Keep at it and remember the hardest part is just getting moving, so build your team and get out there!
I would love to connect and have a chat!!
Hey I have properties in Edmonton. Invest in the West End, South West or newer communities like Chapelle. Stay away from NE
Try to get a Single or duplex, not a big fan of townhomes or condos.
Cheers
Thanks for the tips I was wondering if I could connect with you as you seem very knowledgable on what you are doing, I would love to learn!!
would love to connect with you if you are okay with that
Absolutely, in any ways you want to connect.
Hi guys,
My name is Elmir. My family came here this summer from East Cost from Halifax. We had property there and sold it in April when market was almost at the peak and came here since we have friends and we thought Edmonton and Alberta could be better option to start real estate portfolio then Nova Scotia.
If is any mortgage broker here or real estate agent who works with real estate investors and self employed people please send me their contacts.