An additional consideration is your specialty or niche market. For example, for regular rentals, my specialty is legally suited houses. A quality up/down should cashflow in any part of the cycle, and they hold their value because of the limited inventory, so I am always watching for an...

Thomas is correct. When you purchase a property with the intent to sell within a relatively short time frame, it is considered to be more like a long flip rather than a regular rental property investment. Therefore, all gains are taxed as income and capital gains don't apply. On the flip side...

Lower rents for Edmonton renewals are not always the reality. We have had several tenants renew at the same premium rate they were paying. They liked the places and how they are treated, and they have no desire to move, so they didn't shop around and they didn't ask for a rental reduction. In...

It would seem the main goals of any NDP are: take money from people who work hard for it and give it to people who don't, create as much bureaucracy as possible in order to try to justify their jobs, and tax the crap out of everyone in order to pay for the bureaucracy.

Definitely "no rush to buy." Wait for the right opportunity. As for rents, don't reduce rents below market rent. We have a few properties for which we were getting premium rents, and we have had to reduce those to a more modest market rent. And we have many tenants renewing at the same...

We look at it differently. If someone is facing foreclosure - which would seriously damage their credit for many years to come and possibly prevent them from buying another house when they get back on their feet - then we are providing a service to them whereby we free them from the property...

Good points, James & Thomas. When considering if and for how long to wait, it is important to keep in mind rents could easily further decrease, affecting cashflow and profitability. That being said, it is still possible to get premium rents on great properties. (Yesterday I rented one of our...

Agreed! If one buys for cashflow, has a large reserve fund, holds for the long term, and manages proactively, Edmonton is a solid investment.

Well, then I'm screwed. :( (LMAO)

I have a warm blankie, a big cuddly pillow, and a substantial stash of wine....I'm prepared for anything. ;)

Good points, Thomas. I completely agree optimism must be based in reality, and must consider the worst case scenario. In every market correction, there are people who suffer unnecessarily simply because they took a "Poly-Anna" approach to investing. One must hope for the best, but prepare...

Yes, with a cautious, ultra-conservative approach, and building in an extra cushion to soften economic blows.

Come to think of it, I haven't bought a single investment property at the "bottom" or shortly after the bottom of a market. (However, I have been lucky enough to buy both of our personal residences at the bottom.) :) In 2006, we returned to Canada and started investing in Edmonton when the...