Winnipeg Property Management Firms Are Busy

[VerticalProperties]

So coming from a position of running a Property Management Company I can attest to the fact that the market in winnipeg is hot right now, especially for cash flow investors. Here is a recent article on just how enticing it is for out of town investors to jump in the market....

http://www.winnipegsun.com/news/winnipeg/2...3/14377311.html I will say though that through my experience, out of town investors can easily make some ill fated assumptions when the $ signs gloss their eyes over seeing our market prices.

Although Property Management Companies are busy right now in our market, finding the right one can possibly make or break your Cash Flow potential. Also many out of town investors don`t realize that Winnipeg has a history of Good/Bad areas cycling every Ten years so it is important to spend more than 10 days in our market.

In any case some food for thought for those interested in the Winnipeg Market.

Cheers

Jake

 

[housingrental]

Hi Jake
Something of thought for any investor entering any market there not familiar with
The storey is the same everywhere

 

[VerticalProperties]

Yeah This is true, Just seems like Winnipeg has such an attraction because you can pick up a house for 50k and get great cash flow in the short term only to run into so many headaches due to being lured by such cheap house prices...just found it funny the gentlemen in the article stayed here 10 days and he feels he knows the market now.... just not that easy!

what are the prices like in Waterloo?

Cheers

Jake

 

[housingrental]

Detached houses in livable but dated condition (or very small) start at $250K. Occasional ones come up that are bigger projects closer to $200K.

QUOTE (VerticalProperties @ Jun 23 2010, 02:35 PM) Yeah This is true, Just seems like Winnipeg has such an attraction because you can pick up a house for 50k and get great cash flow in the short term only to run into so many headaches due to being lured by such cheap house prices...just found it funny the gentlemen in the article stayed here 10 days and he feels he knows the market now.... just not that easy!

what are the prices like in Waterloo?

Cheers

Jake

 

[fisher1]

Unfortunatly for this guy he bought a place in one of the worst area`s of Winnipeg. The housing is cheap for a reason. The tenant profile is awful and you got to dodge bullets after dark.

 

[2ndstory]

QUOTE (fisher1 @ Jun 27 2010, 07:31 PM) Unfortunatly for this guy he bought a place in one of the worst area`s of Winnipeg. The housing is cheap for a reason. The tenant profile is awful and you got to dodge bullets after dark.


"This guy" being yourself?

Nik

 

[fisher1]

QUOTE (2ndstory @ Jun 28 2010, 09:38 AM) "This guy" being yourself?

Nik"This guy" is the guy in the link at the beginning of the thread who rented a bike, drove around for 12 days and was able to learn everything he needed to know about Winnipeg and purchase a place in that time. There are decent pockets around the rougher area`s but I`m just saying I dought he was able to know where they were in 12 days riding a bike never being here before.

 

[hotbunz4]

So which neighbourhoods do you guys like in winnipeg?
I am an out of town investor looking at this market....
Had a cabin there growing up I spent many days riding my bike around

Still go there 6+ times a year, but just starting looking for a multi-fam. home there.
I know better to look on the north end, but...Wolsley? st. James? Provanchier (is that st boniface)?
I wouldn`t mind something dated so I can spent some more time up there with my family.
I seem to always be helping them with repairs and maintenance when I go anywhy

Kev

 

[ontariolandlord]

This sounds good. What are some realistic numbers for a place that will be easy to rent out?

 

[RyanReelin]

QUOTE (hotbunz4 @ Jul 8 2010, 04:39 PM) So which neighbourhoods do you guys like in winnipeg?
I am an out of town investor looking at this market....
Had a cabin there growing up I spent many days riding my bike around

Still go there 6+ times a year, but just starting looking for a multi-fam. home there.
I know better to look on the north end, but...Wolsley? st. James? Provanchier (is that st boniface)?
I wouldn`t mind something dated so I can spent some more time up there with my family.
I seem to always be helping them with repairs and maintenance when I go anywhy

Kev


I have just posted an excellent property in the southwest part of Winnipeg (which is definitely where you want to be). It will take a few days to be approved by the moderators but you will find it in the "properties" section of the home page under "other". It`s within a few hundred metres from the rapid transit that is currently under construction, consists of 2 residential and 1 commercial unit.

 

[VerticalProperties]

Well the Vacancy rate is at 1% so pretty much any place is easy to rent out right now(including the North End). We manage properties all over the city and i would say based on experience that your risk tolerance will determine allot of where you invest in winnipeg.... as mentioned in a previous post there are great pockets around the rougher areas of winnipeg(north end) that produce excellent cash flow with lower appreciation rates. If you look into st.James, Fort rouge, or the south west of the city you can still cash flow (although lower) but have greater appreciation rates.

For example i have houses near some rough areas cash flowing up to $500/month( kept in good condition of course). I also had houses in st. vital and Fort Rouge that cash flowed from $50-$150/month but appreciated faster.

So far for my personal portfolio i have had a win/win scenario no matter where my houses are located( but don`t get me wrong i know where to stay out of as well) Many people stay as safe as possible, but once i got my first house that many would stay away from and have had success with it(6 years now) I now look for houses in good pockets of questionable areas by others...but again i have a higher risk level than some.

Ryan is Right though the south west is a great place to be especially for appreciation purposes.

Cheers

jake

 

[fisher1]

The north end is a good area, as long as you go far enough north. I would say if you are within a couple of blocks of Inkster or anywhere north of that. All the other areas mentioned are good area`s like St.Boniface, Fort Rouge and East Kildonan.

 

[VerticalProperties]

yes that`s true... especially on the other side of inkster towards Scotia....thats a really interesting area to invest in.