Yeah, this is Edmonton's year I think in Alberta. Thanks for all the good input, we've been thinking about Edmonton recently to invest, we keep finding deals in the Calgary area though
I know a few people that would disagree with NE Edmonton though, with all the Oil & Gas stuff going in near Ft. Saskatchewan and stuff they think NE Edmonton is a good place as well. I haven't looked at it closely myself though.
Quote:
Originally Posted by mykalberta
Edmonton rental rates are the best in Canada. Rental revenue are currently outpacing cost of financing.
My parents just bought a whack of condos (12) going up by Heritage Mall and they fully own 3 (2h 1c) and have mortgages on 8 (3h 5c) and on the 8 with payments, they are making about 8%/month in straight before tax profit and that includes rental fees etc (all of those places are near the university which is the hottest part in Edmonton).
They are moving their LRT down to Southgate mall and then to Heritage which is likely where the OP's condo is located near. There might be room for 4% growth in that area but it would be seriously risky. There should be no problem finding renters if you are ok with Uni students.
WestEd area is the next best bet but there is no way there is 4% growth there. NE Edmonton is the second worst only to Mill Woods. NW Edmonton (north West Ed) is mostly industrial and then you hit the satelite leach communities. Centre East likely wont keep up with inflation.
MYK
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