All Forum Posts by: Cody Hill

@David Chicotte

Hi David and welcome to bigger pockets. I would say that really depends what kind of tenants and properties you are looking for. For myself I have been picking homes close to industrial parks or towards the suburbs with basement suites. I have been getting more long term, settled down type of tenants then I would expect from downtown. It really makes the landlord experience way more enjoyable.

I like Leduc for this same reason, the quality of tenant I have been getting, so far (knock on wood) have made my life so much easier and really take care of my asset. It helps that the cost of entry is less then the city and rent seems to be more.

With all that being said I am interested in trying a brrrr maybe downtown or small multifamies.

@Andrew Brown

Hi Andrew, I am also interested in finding a good real estate CPA in Edmonton. I will let you know if I come across any.

@Jesse Graham

The most recent one that I just finished (for 30k) was hands off and hired out. The basement was an empty shell to begin with so it was a pretty straight forward job with no surprises. Keep in mind this was only a one bedroom apartment as well. Approx. 900sqft

We did do another property in Edmonton and were able to get the price down to about 20k for a 2 bedroom basement apartment. That was a lot more sweat equity though. If you are at all handy or know people in the trades, this is a great way to start out.

@Curtis H.

I was actually just looking at Beaumont myself. It is a really nice town with a lot more character than Leduc. The cost of entry is higher though. I would agree that we should see a good jump soon and being closer to Edmonton I would expect the prices to be on par with the cities soon. (City is getting pretty darn close to Beaumont now)

I know from talking with people around the neighborhood that I just bought in, more then half the houses are absentee owners, majority of them residing in Vancouver. Hoping that will prove to be a good sign.

@Jesse Graham I am a big fan of finding sfh's which I can put legal basement suites in. Just recently I was able to put in a suite for $30k and been receiving $1200/ month renting it out. Decent ROI.

I stick to the South West side of Leduc, the East side is a little more swampy leaving a lot of the homes with foundation or water problems. There has been a lot more new development on the west including a brand new school!

@Kris Harold exactly! Very rarely. They do their research before making a decision to invest their money into that location.

Amazon is also getting a warehouse very close to Leduc. Hoping these are all good signs for my investments!

@Jesse Graham I have a few properties in Leduc and they have been a dream compared to the properties I got in Edmonton. It cost me less to get into these properties (almost 100k) and I have been getting higher rent. Not to mention the tenants I have been getting are better quality with less turnover.

Follow Costco, they just recently opened a warehouse just outside of Leduc and I can guarantee they did their research before pulling the trigger.

hey @Tony Akhigbe

I have been finding that as well, hard to find anything with a big enough spread to make it work. I have heard a few success stories in Edmonton for getting a brrr to work. They were buying bungalows and adding basement suites to make it work. 

I am starting to consider the jump across the border as well, numbers work much better. Looking to learn more about it myself, have been given some resources to read. Seems to be more profitable with less skin in the game. Also like the idea of being in a different market then you reside so if the market tanks your investments shouldn't drop with it.

Cheers,

Cody

@Account Closed  nicely done! Actually just did the exact same as you and bought a second property with a basement suite. Easy way to save some extra money with next to no mortgage payment and start as a landlord. Great to see a fellow Albertan getting ahead and thanks for sharing!