Investment Opps. in Edmonton and surrounding areas?
The real estate market is obviously on the up and will likely remain hot for at least another year +. I got a fair chunk of saved up and looking into flipping pre-built property, for eg. putting $20,000 down a condo currently being built and once it's complete, flip it.

Anyone got any specific locations/opportunties that I should look at?


Thanks!

 

Look into this perhaps, lower risk, investing in land. http://www.sdintlgroup.com/

Get in contact with a representative and you'll get all the info you need. A very legit investment with solid history.

Not sure what the housing market is like in Edmonton but I don't even want to think about buying investment property in Calgary. Time to look elsewhere to for potential hehe

 

Thought about it myself, however the way interest rates are climbing, coupled with stats showing a slowing real estate market this month by the CREB are all indicators of a recession, albeit, perhaps a minor one. I think I'll hold onto my cash until things turn around and people are giving their homes away.

RBC is offering 4 year mortgages at almost 7.5%. How do people afford $500K houses at those kinds of rates??

Asif

 

if you are looking for some real estate investments, I wouls say Sask is where to go next. Housing is undervalued there and sask will slowly be the next Alberta I would say. Oil sand developement there, and uranium heating up later, sask will be hot in 5 years.

 

I agree with Asif. I'm kind of waiting in the weeds for the big "panic"-- a bunch of homeowners that are mortgage poor and needing to get out of their mortgage really bad.

It'll happen

 

Well I'm looking for a quick turnaround (less then a year). You guys see a halt to the increase of the interest rates?

And what about Sask. is there seriosuly a future opportunity their with regards to real estate?

Well...if I don't put it the housing market, I'm thinking about buying a big chunk of gold. Seems to have a good future ahead.

 

Sask is definitely the future... lots of potential out there

 

Prince Rupert...major shipping terminal being planned...scope is probably more than 1 year though.

All in all, I'd say Real Estate is a poor investment anywhere right now (except with the recreational/retirement places for the boomers)...most of the easy money has been made. High interest rates and a mini recession will hurt in Saskatchewan as well...just my 2 cents.

 

There is a theory from some sask folks. The baby boomers who moved to AB and BC will be retiring and moving back to sask. Housing right now is still booming. I can't quite figure out why, but the construction is booming, a new house folks are waiting a year to get their basement dug. Sask is finally getting their act together, but I do see growth. Not sure it can even compare to AB though.

 

Sask will take off as soon as the regime change happens... until then it'll be slow and painful to watch.

Frontpage in today's herald is people cashing out and moving to cheaper locales. Take the free gains and live without a mortgage... whoooppee