Is "Secrets of the Canadian Real Estate Cycle" Relevant ?

[Gurjot Grewal]

Hello BiggerPockets, 

I am brand new to this platform and currently in the learning phases of real estate. The past few months I have read some of Brandon Turner and David Greene books and absorbed countless hours of audio content through podcasts. I feel confident at this point to start approaching my future team and my goal is to close on my first property by the end of this year. My problem is I am unable to decide on a market to invest in. Being from BC I have decided to pursue long-distance investing. I have analyzed Edmonton, Calgary, Saskatoon, Regina, Halifax, Sudbury, Windsor and some smaller communities; Prince George, Crankbrook, Sydney, but I just cannot decide where to start truly putting all my time into. 

I would like to start with a duplex, either half and half or a house with a basement suite. Interested in long term buy and holds, appreciation would be nice but cash flow is a must. 

I feel that what is holding me back is my lack of understanding the cycles of real estate so I came across this book; " Secrets of the Canadian Real Estate Cycle: An Investor's Guide "by Don Campbell,  would this still be relevant to the Canadian markets in 2022? I am hoping this will give me more insight into the different markets we have in Canada, allowing me to finally choose where to pursue. Would also appreciate any advice more experienced investors may have to offer or even pointing me in the direction of more information. Thanks in advance. 

[Marshall Magnus]

@Gurjot Grewal

That would be great!  I regularly here on the podcast that a person is the average of the five people they spend the most time with. At this point I am pretty sure that in my case all five of those people are authors. I love a good business or investing book but I am pretty sure all my friends are tired of talking about books. I will have to move this one up in the line so I can properly follow this thread.

When it comes to Edmonton I have a bias, I love this city. It is quite possible that I turn a blind eye to its flaws or economic problems. I really don’t know how the future will oil prices will affect the local real estate market, I have a lot to learn about markets, cycles and the larger economics of real estate. There is a good chance that once I do know more the most beneficial path will be more clear. Until then, my stance on making a decision when the choices are many and varied has alway been, if the answer is not clear then the choice is not important. Whether it is a boom or a bust, the best house on the street will be rented. This may be naive but I really do think that the quality of the house (and the margins on the deal) will hold up independent of the local or larger markets.

That was a very long and rambling way of saying I don’t think a person needs to worry about the future of Edmonton as much as they need to worry about the quality of their deal. And I look forward to talking about the book with you!