All Forum Posts by: Zorya Belanger

Welcome @Jacob Koep You have the right mindset and you have time on your side! Start learning by reading - there are so many great resources out there. Focus on Canadian content though as investing and especially financing are very different here than in the states. I recommend Don Campbell's book Real Estate Investing in Canada as the place to start. Also, you don't necessarily need money to start! If you want to get started sooner, look into doing Joint Ventures - 2 experts that I'd recommend to follow and learn from are Cory & Tiffany Young (they have a facebook group: Fearless Real Estate Investors) and Russel Westcott, who you can also find on facebook. Attend local RE associations and meetups (once group functions are allowed again), and meet people doing what you want to do. Everyone is happy to share how they got started.

Congrats on taking that first step! We're investing in Edmonton and have found that in order to cash flow well, the property has to have at least 2 suites, so either a basement-suited house or a house with a garage suite, or bigger. I would expect it to be similar in Calgary. Keep adding those types of properties, one property at a time, and you'll do well.

Our SFH and half duplexes in Alberta are $109 - $137/month, for property values that range $282K - $315K. Insurance has definitely gone up a lot in last year or so - some properties 20-30%.

Yours seems a little high for the valuation, but its dependent on so many factors like sqft, age, location, etc. We also get a 5% discount for having multiple properties.

Edmonton Real Estate Investors Association (EREIA) on meetup is also a great place to meet other investors/service providers.

There are many people doing this successfully in Edmonton. I would suggest checking out the Mogul Realty Group. They also have a monthly educational event called Mogul Mastermind (find it on meetup, open to public) where you can meet the whole team, be introduced to other team members and talk to other investors doing the same thing.

@Kade Bowie That is awesome that you are aware of the power of real estate so young! First of all I would definitely start going to local real estate groups. @Mark Mendoza I was also at Collaborate yesterday. 

If you are serious about getting educated in investing in real estate, not just working in real estate (wholesaling is not investing, but it is a great way to make some cash, which you can then invest), then I'd suggest REIN's annual event next weekend. It'll teach you what properties investors are looking for and how to find those deals, so you can successfully wholesale the right properties to investors. If you want to meet a boat load of other investors, that's also the place.    https://rein.swoogo.com/acre-edmonton 
Another great group is Edmonton Real Estate Investors Association, and Mogul Mastermind. I know Keyspire is coming into town too soon, but be aware, the 2hr event is a sales pitch for their pretty expensive program. Though I do know people who have been successful with it. 


When I hear that you're in University, I immediately think - student rentals! Buy a house with 5% down, maybe get parents to help qualify if you don't have an income, and then you live in the house and rent out the other rooms to friends/students. A great way to get your first investment property, live rent free, and learn about landlording!

I'd check out meetings & events put on by Edmonton Real Estate Investors Association (EREIA), Collaborate Real Estate, and Mogul Mastermind (all on meetup.com).

 Hey Chris, Looking to network as well. I'm in Edmonton and bought a few single families in 2013/2014, and 2017/2018. Now we're getting into multifamily due to the economies of scale and easier to get financing. Currently in the process of raising capital and looking for a great deal. 

Areas - hard to answer quickly as its a pretty big city, but personally I'm avoiding the "golden triangle" east of downtown, bordered by 97 st, yellowhead and LRT tracks. 

On multifamily side: In 2018, Edmonton wide vacancy decreased from 7.0% to 5.3%. Meanwhile, average rents increased by 1.2%. Until 2018, with the sole exception of 2009 and 2017, rents have increased every year since 1995. Expect further increases and fewer incentives in 2019 although vacancy remains above the 10-year average. 55 low-rise buildings were sold in 2018, totaling 808 units. The average cap rate was 6.0 and the average price per unit for a low-rise walk-up apartment building, built prior to 1990 with less than 50 units, was $129,155 (source: Cushman & Wakefield Edmonton).

Overall, I feel like we are at the bottom of a market, and things are slowly going to improve. Good time to buy, but don't count on the market improving. Nice thing about multifamily though is that you can force appreciation with strategic reno's, so that's our strategy.

@seth ferguson I'm curious too! I'm born & raised in Edmonton, and looking to buy multifamily here too. Those were pretty typical market rents for that area. Things haven't changed too much a year later. 1 bed's in the $800's, 2 beds in the $900's 

Hi Steven! I'm curious as to what happened with this building. Did you pass on it? Have to put offers on other buildings? I'm also looking to buy multifamily in Edmonton. I'm born & raised in Edmonton so I feel like I know the city well.