Hi all! I am Corene Loewen (27) a new REIN member just starting to figure out how this all works!
Quick Start Edmonton was amazing, my mind is still trying to soak it all up!
I live in High River, AB and as it made the TOP 10 I have chosen to focus on the town and build my portfolio here.
I owned 2 revenue properties prior to joining and plan to increase that in the near future.
however, I am finding that not many of the properties for sale currently (mls / homerent / /high River times / we list etc..) fit into the HOT ZONE. I have researched rent costs in the area to be sure I am using realistic figures, but they are all ending up in the 4 - 5% range!! Now what??
I know that the properties I already own are around 6-7% range and they do have cash flow, but I am trying to implement what I am learning through REIN and the Quick Start Program.
Can anyone explain this or give some insight into my situation??
With the market being a little soft I was expecting better ratios... Is there a more in depth formula? That takes into account $ down etc...?
Also any other REIN members from High River out there?? I would love to connect!
Quick Start Edmonton was amazing, my mind is still trying to soak it all up!
I live in High River, AB and as it made the TOP 10 I have chosen to focus on the town and build my portfolio here.
I owned 2 revenue properties prior to joining and plan to increase that in the near future.
however, I am finding that not many of the properties for sale currently (mls / homerent / /high River times / we list etc..) fit into the HOT ZONE. I have researched rent costs in the area to be sure I am using realistic figures, but they are all ending up in the 4 - 5% range!! Now what??
I know that the properties I already own are around 6-7% range and they do have cash flow, but I am trying to implement what I am learning through REIN and the Quick Start Program.
Can anyone explain this or give some insight into my situation??
With the market being a little soft I was expecting better ratios... Is there a more in depth formula? That takes into account $ down etc...?
Also any other REIN members from High River out there?? I would love to connect!