All Forum Posts by: Jeremy Heaman

That's fantastic! It's really nice to hear a success story!

@Michael Mckinders that's is good to know, the application fee doesn't seem very large but that is likely the point after all.

Correction, the effective purchasing power would increase, not the money supply. I do apologize. 

Thank you @Anthony Therrien-Bernard for brining this up. I haven't heard about it yet.

I am concerned about the 5 percent possible down-payment. It would make purchasing multifamily easier, but that barrier of entry is also used to encourage best practices for investors running their business. Lowering the bar that much could lead to lower quality property management for would be tenants. It could also lead to increasing price of multifamily buildings, due to effectively increasing the money supply, if the rent amount do not change as well.  

It will be very interesting to see all the criteria needed to be achieved before this come into effect.

@Elijah Williamson

The lawdepot has worked well for me, you can put in provisions that you need, and it outlines most laws in Alberta. I also find it rather user friendly.

Warning, this topic could be disturbing to some people.

I have recently put my condo up for sale, after a bad tenant left. This is a C class neighbourhood in Edmonton, Alberta and after the condo fees increased dramatically, it no lomger meets my investing criteria. 

I learned that someone had been killed in the buidling in the past week. It doesnt appear to be someone from the building.  But it does leave me with questions, do I keep trying to sell the property, do I go back to renting it out? In the years I had it (and according to EPS 90 days before) there hasn't been any violent crime in the area before. 

For those of you who have experienced this, how has it accected your property values?

@Nigel Liao

In Alberta, I have found the laws to be relatively favorable to the landlord, compared to many other provinces. It doesn't take a year to evict, I am not aware of regions with rent control laws, and you can set your own late fees as they are deemed "reasonable" and agreed upon in the lease.

I have been looking in the satellites around major cities in Alberta as the rents are usually very close, and the house price is noticeably less. I also find it has a higher quality tenant.

That is understandable. I always project for current market situations, unless I know there is a new confirmed variable entering into the mix. (The city of Edmonton fort road revitalization, coupled with the federal and provincial government widening the yellow head in the area) 

I haven't heard of my people investing in small cities in Alberta, and I know there's a much increased vacancy cost. 

I know Camrose itself is a large service center for the region with a relatively stable farming economy, some commercial investment and has relatively low property taxes. Are these factors enough to try a new market?

Hello, I am recently considering purchasing in Camrose, Alberta, and was wondering if anyone on here currently has any experience in the city.