Investing in Edmonton

[Chris Muller]

Hey there

Looking into diversifying the rental portfolio and Edmonton looks to be entering into the start of its recovery for its real estate cycle.

Any investors on here active in Edmonton? Would like to learn more about it - most likely in the single family suites home section, but open to duplex, multifamily etc.

Good areas/bad areas?

Average rents?

Vacancy?

Always looking to network as well.

Thanks in advance!

-Chris

[Amy Colin]

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