All Forum Posts by: Jay Carter

 Hi Dallyn,

Edmonton is certainly not an area of Canada where BRRR is an unviable strategy (ie Vancouver/Toronto). Most of the tactics, principles and numbers will still apply.

Edmonton is fairly location specific. Get to know what locations and types of real estate interest you and build from there.  Lots of areas with large variance in house prices, which could mean large potential.  Areas like Grovenor have single family homes for under $250k, but also similarly sized houses for over $1.5 million.

I also highly recommend networking and going to group meetings.

There are many Real Estate investment groups in Edmonton, the biggest is Edmonton Real Estate Investors Association Monthly Meetup, which is the second Wednesday of the month.

Hope this helps,

Jay

Hi Chad,

You can advertise the lot in the same way you would a regular home.  You just should be very specific about the zoning (ie: RF1 or RF3), if it is sub-dividable, and the and lot size.  

You can find out about Edmonton zoning bylaws here:

https://www.edmonton.ca/residential_neighbourhoods...

Here are the infill guidelines, as well:

https://www.cityofedmontoninfill.ca/public/downloa...

Lastly, here is an example of a current listing that is doing exactly what you seem to be aspiring to accomplish:

https://www.realtor.ca/real-estate/19518747/3-bedr...

Hope this helps,

Jay

Hi Al Carlo,

Without knowing your background or strategy, I'd highly recommend just doing some general readings about real estate investing.  Most of the tactics, principles and numbers will still apply.

Beyond that, Edmonton is fairly location specific.  Get to know what locations and types of real estate interest you and build from there.

I also highly recommend networking and going to group meetings.

There are many Real Estate investment groups in Edmonton, the biggest is Edmonton Real Estate Investors Association Monthly Meetup, which is the second Wednesday of the month.  

Hope this helps,

Jay

 Hi Tyler, I appreciate the insight! 

I am glad to head things are going well in your investments.  Please stay in touch, I would love to know how your journey continues - and perhaps we can even get connected!

Jay

Hi George,

Thank you for reaching out.  Please stay in touch! When you are in town, we can definitely meet and talk further.

Cheers,

Jay

 Thank you for the words of encouragement, Jack.  Certainly going to do my best to connect and learn!

Jay

 
Thank you for the tips/advice, Justin - it is very much appreciated.

I have definitely been utilizing the search and alert feature already; however, I can certainly put those other features to better use.  

Cheers!

Hi Everyone,

I have been reading and listening to the podcasts on this website for a while, and decided I should also reach out to you all!

I am from Toronto, but have been in Edmonton for over a year now - and I am really motivated to get started with real estate investing in this city.

I spent a short period as a real estate agent in Toronto over a decade ago; but other than that I have very little real estate experience.  I have since switched careers into Occupational Health and Safety, which treats me very well.

I would certainly appreciate any additional insight on creating an investment/income property situation in Edmonton.  I have viewed a lot of properties myself and done as much research as I can, which has led me to find the most promise in the King Edward, Ritchie and Oliver areas.  I also like Cloverdale, but it seems too expensive. 

I know infill properties are popular in these areas, but I'd rather stay away from them because I do not see them as beneficial towards my goals.

My main focus is on beginning with a single family home with a 2 bedroom basement suite, which I am willing to renovate/build. Or a multifamily home, if I can make it feasible.

For my first investment, I intend to live in one of the units, so I wanted to stick to my desired locations listed above.

I really appreciate any insight into any of this - but please do not hesitate to reach out to just get connected!

Thanks for reading,

Jay