Anyone Invest in New Brunswick

[Justin H.]

Does anyone invest in Saint John, New Brunswick? Studying pricing dynamics the past 6 months and economics, I understand very low Cap growth, but decent cash flow. Am I out to lunch or on board here.

I Cant find any mastermind/investor clubs for the city or even New Brunswick and am looking to see if others are delving in.

Justin

[Roy N.]

@Justin H.

We have several buildings in Saint John ... bought some of them off folks from away who "delved in" a few years ago without doing their homework.    We are seeing a similar trend in recent months - folks coming in from away, thinking prices are real cheap, and not taking the time to learn the neighbourhoods before buying a 150 year old building on a sketchy block, which has had no love for the past 30 years.

You can find good deals in Saint John, but many of them are going to required a re-investment exceeding the purchase price.  

Out of the three principal cities in the province (Fredericton, Moncton, Saint John), Saint John may have the cheapest property prices (thought they are going up a little) but is probably the riskiest as well.  Fredericton is the most stable - but most expensive and Moncton, as a City, has the best long-term potential.