Should i concentrate just in my province?

[Jazn8]

Hi i live in Alberta, i just wanted to know if there is any reason i should invest out side of Alberta. I was looking in the east side of Canada but i feel like it might be to much of a hassle to manage a property just in case something happens. What do you guys think?

thanks

 

[ChrisDavies]

QUOTE (Jazn8 @ Mar 26 2008, 08:31 PM) Hi i live in Alberta, i just wanted to know if there is any reason i should invest out side of Alberta. I was looking in the east side of Canada but i feel like it might be to much of a hassle to manage a property just in case something happens. What do you guys think?

thanks

Alberta`s a great place to invest in no matter where you live. You`re already there, so you`ve got an advantage. Go with where you know!

 

[joeiannuzzi]

Investing in your own backyard can be considered a safe way to start because of the property management issue you mentioned. Alberta is a great place to put your money because no other province has the same strength of economic fundamentals.
Sophisticated investors concentrate on one area rather than diversifying. Bill Gates only had one business over the past 30 years and you can judge for yourself how he has done!

 

[KULA]

QUOTE (Jazn8 @ Mar 27 2008, 12:31 AM) Hi i live in Alberta, i just wanted to know if there is any reason i should invest out side of Alberta. I was looking in the east side of Canada but i feel like it might be to much of a hassle to manage a property just in case something happens. What do you guys think?

thanks


Where you invest should be driven by numbers. Everything i have seen so far at REIN and other places all say that Alberta is an awesome place to invest. If you find that you need more cashflow in order to purhcase more property you may want to look at specific places in Ontario. In my very limited opinion, invest in Alberta and look to other areas for cashflow. My understanding is that properties can be well managed if you use a good property manager.

Have fun out there.

 

[Thomas Beyer]

YES, this is a BIG world !

It makes sense to invest in MANY places, such as BC, ON, SK, TX, FL, AZ, Cambodia, Brazil, Argentina, Panama, Italy, Turkey, Egypt .. and also here in AB !

if you invest only a small amount travel cost and distance cost have to be considered. So, flying to Florida 3 times to find that awesome foreclosure may or may not make sense ...

You also have to become an expert in
a ) a type of property and
b ) an area

So, pick a property type (say apartment building or townhouse or acreage or signel family foreclosed homes or condos with oceanviews or ...) .. then pick an area that makes sense (and there are MANY !) .. and then EXECUTE REPEATEDLY THERE !

So, for example, if you have relations in Cambodia, a growing Asian society, or in Brazil (a growing nation on the threshold of a 1st world nation) or in XYZ .. and for $20,000 you can buy a piece of land and build a house, and sell it for $30,000 or $40,000 .. why not do it ?

 

[mar]

QUOTE (thomasbeyer2000 @ Mar 29 2008, 03:20 PM) YES, this is a BIG world !

It makes sense to invest in MANY places, such as BC, ON, SK, TX, FL, AZ, Cambodia, Brazil, Argentina, Panama, Italy, Turkey, Egypt .. and also here in AB !

if you invest only a small amount travel cost and distance cost have to be considered. So, flying to Florida 3 times to find that awesome foreclosure may or may not make sense ...

You also have to become an expert in
a ) a type of property and
b ) an area

So, pick a property type (say apartment building or townhouse or acreage or signel family foreclosed homes or condos with oceanviews or ...) .. then pick an area that makes sense (and there are MANY !) .. and then EXECUTE REPEATEDLY THERE !

So, for example, if you have relations in Cambodia, a growing Asian society, or in Brazil (a growing nation on the threshold of a 1st world nation) or in XYZ .. and for $20,000 you can buy a piece of land and build a house, and sell it for $30,000 or $40,000 .. why not do it ?

Does anyone have experience purchasing RE outside North America? I am intrigued by RE in emerging markets, Brazil and Cambodia are good examples. Does REIN provide insights with such investments? Are any members involved in exotic JV`s now? Thanks in advance for your responses. See you at the Quickstart in TO!