Wabasca AB, I live 2hrs away.. The building has local stigma of a slum den.. The previous owner was a drug addict that mismanaged.. I also believe that he bought it at a premium price from his father, when oil dropped and town vacated, he got hit hard.. The nearest bulk rental units rent for...

I'm estimating with reno and closing costs, total building price around 210k.. I put for rent signs everywhere, got 19 responses, which I interviewed and whittled down to 2-3 tenants.. It's in Wabasca, AB.. Pop: 1500 or so.. I need to check to see if it's on municipal or indian reservation...

It's been on the market for 2 years.. If it's such a great deal, why hasn't anyone bought it? Myron Bas

150k for the whole thing.. My gut is yelling at me but I have no track record for that gut feeling's merit.. Myron Bas

I'm looking at American shale and it seems to me that their oil service costs will begin to rise like they did in Canada as more and more companies need those services, driving up production costs out there, meanwhile our oil service costs and transportation have fallen significantly.. I believe...

It's extremely hard to fill these apartments in the area.. Myron Bas

Idk condomized rents.. Expected rents are $500/m plus utilities.. In boom times, the building has been full at $1000/m utilities included.. Appraised value boom times $550k-600k.. It's was a storage building that was converted into a 6plex.. Metal roof, metal siding.. Myron Bas

Idk condomized rents.. Expected rents are $500/m plus utilities.. In boom times, the building has been full at $1000/m utilities included.. Appraised value boom times $550k-600k.. It's was a storage building that was converted into a 6plex.. Metal roof, metal siding.. Myron Bas

So the six plex is in a northern Alberta small oil town.. The town has horrendous vacancies, a building with $1650+/m rent are probably 90% vacant.. Building with $950/m rent is around 50% occupied.. That's where I come in, 6 Plex is foreclosed and appraised at $270k, I've put it under contract...

Looking for experienced investors..

Right on! Variable it is lol