All Forum Posts by: Huninder Mann

@Angie Tao condo prices in Edmonton are very attractive as compared to Vancouver. I have a condo around 673 sq st in south east Edmonton around 34 street and 16 ave and I have it rented out for around $1000/month. A friend of mine also has a condo in the same building around 884 sq ft and that was rented out for few years for $1700/month but in 2016 old tenant left and economy was not doing so great and he rented it out for $1200 right away. Both of these unit are under $200k and were built in 2013. Rental market has been improving and right now rental vacancy rates are around 5.3% which is way higher than Vancouver which is around 1%.

@Elbert D. thanks for the reply, I am more interested in flips, or pre foreclosures. Let me know if you any good deal

@Account Closed how is the market in Arizona? Do you see market still under 2% rule. Please let me know your thoughts

January Johnson Also check with broker as here in Alberta, as a realtor will be required to get a disclosure signed from the consumer whenever I involved in a personal trade. It required to advice them that they should get a realtor to represent them. Check this aspect as well. Best of luck Ken Min thanks for letting me know. I must always add to check with local real estate attorney.

Good evening everyone, 

I am from Canada and I looking to start investing in the USA. But I am not sure which State and cities to select which have 2% still working and which have return higher than 1%. I have was checking Houston Texas but I feel prices have gone up a bit in last 2-3 years. Please advise

Hi,

You can definitely buy it directly from the home owner after the notice of default but before foreclosure. You can use lease options. They are really helpful and you can make money without getting mortgage or buying the property cash. 

In lease option, you can help the person avoid a sure foreclosure in exchange for lease option - chance to buy for whatever years you what to put. Then you bring the property to date with dues. Then you lease the property to someone else(with bad credit but good earning ) with option to buy in 3 years with 3 to 4.5% appreciation/ yr and with 5% down payment. Also charge your regular rent (mortgage+expenses)plus any amount you feel deal will go through and will give you monthly cash flow.

hope it helps

Hi

Prices have dropped in Edmonton as well but still they are not good even for 1% rule to work. I am looking for a single family house and a lot single family home from 1970, 1980 under 1300 sq ft are selling around 300k-325k and with garage around 325k-350k.

Area around 118 ave from 32 street to 66 street is really cheap but area is bad. 

Hi Matt, I have heard about butler mortgage and they specializes in portfolio lending and I think they can help. Contact them and share your experience with us as well. Thanks

Last week I was talking with a relative who is a builder and had been building houses in Alberta and British Columbia. He said building cost in Bc is around $100 per sq ft and $110 per sq ft. My friend bought a house from builder and builder is charging him $150 per sq ft for construction plus cost of lot in Edmonton. I feel $200 per sq ft is too high but I can be wrong as I do not any experience personally.