 Apartment bldgs - BC vs. Alberta, Is one province better than the other? |
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| Apartment bldgs - BC vs. Alberta, Is one province better than the other? |
 May 4 2009, 01:06 PM
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Group: Forum Members Posts: 15 Joined: 10-September 08 From: Vancouver Member No.: 7,309  |
I am hoping someone might be able to help me with this. I have been dragging my heels on this, probably because it feels like a big step to go from owning single family to multi, so I am starting with this basic question. I live in Vancouver and I know that Maple Ridge and Surrey were top in BC for places to invest but does anyone know if Alberta would perhaps be a better place to purchase, say maybe Edmonton or Calgary? I thought close to home might be better but if I have a management company run it, then it probably doesn't make too much of a difference. Or does it. Does anyone have first hand experience with this? In terms of ROI, is there a significant advantage to purchasing in one place vs. another? Any help or advice you might offer would be greatly appreciated. Thank you. Cari-Lee
-------------------- Cari-Lee Stevens
www.cleansegirl.com |
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May 4 2009, 05:32 PM
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Group: REIN™ Members Posts: 338 Joined: 31-August 07 From: Edmonton, Alberta Member No.: 379 |
Rent control has not been in Alberta since the 1970's. Landlords can charge the market rent, with no limit on increases. Little government interference. The Alberta Advantage.
BC has a cap on rent increases, currently at 3.8 % or close to it. ( I don't invest in BC) Ontario also has rent controls. -------------------- Brent Davies, REALTOR
Brent Davies Real Estate Broker, Davies Mgt & Realty Ltd. Ask about our Edmonton Discovery Tours for Real Estate Investors |
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 May 4 2009, 06:12 PM
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 Group: REIN™ Members Posts: 4,539 Joined: 30-August 07 From: Canmore, AB Member No.: 209 |
it depends on price, location, CAP rate, VTB, available financing, 5 year goal, cash-flow vs. equity goals, ...
We own buildings in ON, SK, AB and BC .. and they all work and they all have their pro's and con's .. What is better when buying a used car: a Ford @ $5000 or a VW for $12,000 or a Mercedes for $31,000 ? This post has been edited by thomasbeyer2000: May 4 2009, 06:12 PM -------------------- Yours Sincerely,
Thomas Beyer, Diamond REIN member and also President, Prestigious Properties Group T: 403-678-3330 E: tbeyer@prestprop.com Don't wait to invest in real estate - Invest in real estate and wait ! ™ www.prestprop.com Preview book chapters of my new book .. and comment please .. here: 80 Lessons Learned Investing your LOC, RRSP or cash with us means: Become a Landlord - Without the Hassles ! ™ |
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May 5 2009, 06:14 AM
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Group: REIN™ Members Posts: 293 Joined: 12-November 07 From: Burnaby BC Member No.: 2,802 |
Thomas is right-look at the economic fundamentals and one more thing -no property purchase tax in Alberta
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May 5 2009, 09:21 PM
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 Group: REIN™ Members Posts: 810 Joined: 1-September 07 From: North Vancouver Member No.: 442 |
AND, the AB Tenant-Landlord legislation is more balanced than in BC, IMHO.
Having said that, I am again considering investing in BC again... even the Lower Mainland. But, my emphasis will be on RTOs and commercial more so that long term residential holds. This post has been edited by Dan_Eisenhauer: May 5 2009, 09:24 PM -------------------- Dan Eisenhauer
BC Realty 911 Ltd. "Sensible Solutions for Problem Properties" 604-982-9151 BCRealty911.com |
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May 6 2009, 09:02 AM
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Group: REIN™ Members Posts: 4,539 Joined: 30-August 07 From: Canmore, AB Member No.: 209 |
one of the KEY advantages in AB and SK is that you can adjust rents to market very quickly, as opposed to rent controlled BC, MB or ON !
-------------------- Yours Sincerely,
Thomas Beyer, Diamond REIN member and also President, Prestigious Properties Group T: 403-678-3330 E: tbeyer@prestprop.com Don't wait to invest in real estate - Invest in real estate and wait ! ™ www.prestprop.com Preview book chapters of my new book .. and comment please .. here: 80 Lessons Learned Investing your LOC, RRSP or cash with us means: Become a Landlord - Without the Hassles ! ™ |
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Lo-Fi Version | Time is now: 3rd September 2010 - 05:38 AM |
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