Welcome!

By registering with us, you'll be able to discuss, share and private message with other members of our community.

SignUp Now!

New Brunswick Real Estate

Cara

New Forum Member
Registered
Joined
Nov 14, 2021
Messages
1
Hello, I’m from Ontario and would like to purchase a property in New Brunswick (Fredricton or Moncton area). I am looking for a real estate agent or broker in New Brunswick, Canada that is really familiar with these areas and out of province purchases. Is there anyone out there that can help me? Thanks Cara
 

Thomas Beyer

0
REIN Member
Joined
Aug 30, 2007
Messages
13,881
Search realtor.ca for suitable properties and target area and contact a few. Then write offers once you understand what value looks like and what areas to avoid or target.


Sent from my iPhone using myREINspace
 

Harzey

New Forum Member
Registered
Joined
Feb 17, 2022
Messages
2
Hi Cara. I've just posted this to another Ont. Investors board however I think you may be interested too...

We are AB/SK distance investors and have had 46 doors in Moncton. Having recently sold a 7 unit and a 5 unit we have 34 door left. We currently have 3 buildings ready to go to market; an 8 unit, a 7 unit and a new construction 19 unit. Things are very hot there and our listings have all gone under contract within 48 hours of listing.

We have really enjoyed the projects we've been involved in out there and the contacts we have made. We have decided to start selling our Moncton portfolio to build on our AB & SK portfolio's closer to home now that my kids want to learn the game. Each of our buildings run like clockwork with the great management teams we have in place. So they are quite literally turnkey for a new distance investor.

The major upside there right now is the reduction of the double tax as was set to take place before covid and has been on hold since. Once this hits the market there is an instant and major upside through reductions in monthly property tax expenses. We are willing to forgo this opportunity in an effort to raise the capital we need to reposition doors in our home market with the kids.

I'm happy to discuss any specific Moncton questions you may have and for the meantime here is a list of our offering and soon to be offerings:

1 - 8 unit property is under contract with a backup in place. This is fully renovated "A - A" suits 1.4MM

1 - 7 unit "B - A+" property in the heart of DT Moncton 1 block for the keg and the brewery district. Fully rented and mostly renovated awaiting leases to end so rents can be increased. Future rents will also not include parking as there is a large 15 unit parking lot attached. Once this is broken out of the leases, the DT parking rates in Moncton range from 85-160/Month adding $1250 to the Gross monthly income overnight. We are thinking around 1MM for this property when we list it and its re-positioned value is closer to 1.4MM once rents are normalised and parking is added.

1 - 19 unit "AA - A+" new build. We have everything in place from architectural/engineering to builder/permits. Demolition is complete and site is ready. Construction costs are around 2.7MM (with some value engineering this could reduce depending on the buyers preferences) and this building is located next to the 7 unit above for strategic parking arrangements as being in the Central Business District, parking is not a requirements as most things are bike/walk-able. National Bank is ready to fund the project however we have again decided to focus our efforts closer to home now. We are looking to break even on this one around 700k to hand everything over. This will be a prize building once finished and has been designed with a condo conversion in mind in 6-10 years. 1 Block to everything DT Moncton has to offer.

Let me know if you'd like any further info on these buildings before we put them to market or if there is any other Moncton specific questions you have.
 
Top Bottom