I'm in a bit of a pickle and would appreciate any advice you can provide. What are the risks in investing in Alberta area? I want to invest in some good property there but I am not sure how to go about it. I have seen the ads of many real estate investment experts on that particular area but as I am new to the area I would like to have advices from you people to help me get a better choice.
Any suggestions would be appreciated!!!
With any investment there
With any investment there are going to be associated risks, the first thing to do before putting down any hard earned cash is to invest into you head and it's great that you're asking questions before taking action.
Although the inventory levels are high in the major metropoltian areas which drives prices down as supply is increased, it's just a healthy conrrection from the unhealth growth that we were exposed to over the past few years. I believe that the condo market is going to be in the weeds for a bit as completion dates for previous projects are coming to a close so there will still be a large influx of condo inventory.
The investment has to make sense, overall it has to make you money. I personally own land development UDIs and a couple of revenue properties in Edmonton and Grande Prairie, my revenue in Edmonton is quite profitable as I purchased it prior to the huge boom, so I'm yielding a positive cashflow out of that property. It will be quite hard to find a property that will yield positive cash flow now unless you're going to be putting down a big down payment.
I'm quite passionate when it comes to utilizing the money I make and put it to good use, so if you have any questions at all you can post here or contact me as I'm always up for meeting new people.
Eddie Tsang
Hasco Development
Land Investment Consultant
Phone:780-709-2678
E-Mail: eddie.tsang@hascodevelopment.com
A good place to start is the
A good place to start is the book Investing in Real Estate. Some the topics include:
* Buy with a low or no-money down payment
* Build wealth without paying income taxes
* Find the neighborhoods and properties that will appreciate fastest
* Add value to your properties with smart improvements
* Choose the best financing for your investments
* Protect your net worth with LLCs and other legal strategies
Some of these may or may not apply to the local laws of Alberta, but in general it is a great starting point for the beginning investor who is serious about profiting in real estate.