Is there anyone investing in Tofield or has done any research about it?
A deal fell into my lap tonight but I`ve never even been there. I think it might work as a RTO, a no-reno flip or possibly even a rental. The key for me is that the owner is willing to do an AFS and I`m pretty sure I could negotiate it to happen with no cash... those things I like a lot but even though Tofield is only 45 minutes away it`s completely foreign to me.
I`m interested to know what the market is like there so if anyone has any insight I`d love to hear it.
QUOTE (MikeSunley @ Nov 19 2009, 09:23 PM) Is there anyone investing in Tofield or has done any research about it?
A deal fell into my lap tonight but I`ve never even been there. I think it might work as a RTO, a no-reno flip or possibly even a rental. The key for me is that the owner is willing to do an AFS and I`m pretty sure I could negotiate it to happen with no cash... those things I like a lot but even though Tofield is only 45 minutes away it`s completely foreign to me.
I`m interested to know what the market is like there so if anyone has any insight I`d love to hear it.
Thanks
-Mike Sunley
Hi Mike,
My mother-in-law lived in Tofield. It is a very tiny little community comprised of mostly seniors. There are some younger people, but most of the younger generations have moved closer to Edmonton for work. Not a great investment community... Good Luck!
QUOTE (nikkibroker @ Nov 20 2009, 06:47 AM) ... It is a very tiny little community comprised of mostly seniors. There are some younger people, but most of the younger generations have moved closer to Edmonton for work. Not a great investment community... Good Luck!
indeed .. but for the right price is MAY BE OK ..
stick closer to Edmonton would be my suggestion unless you live close by and know s.th. that most folks do not know ..
Perhaps a house for under $80,000 may make sense if you can rent it for over $1000 .. but expect high vacancies with those low low house prices ..
Keep in mind also that Tim Johnson started in Waynright .. somewhere up there close to Tofield .. and did very well .. his houses were bought usually below $40,000 10+ years ago .. but he lived there, did hos own property management and his own repairs ..
Mike, my advice would be to get the house unbder "OPTION". Once you have done that you can "test the waters" by performing some local (low budget) marketing. If you are able to find somebody to "flip" or "Lease To Own" the house to, you can then exercise your Option to Purchase.
The beauty of this: There is absolutely NO risk to you, other than a little marketing!
Just an idea?
QUOTE (MikeSunley @ Nov 19 2009, 09:23 PM) Is there anyone investing in Tofield or has done any research about it?
A deal fell into my lap tonight but I`ve never even been there. I think it might work as a RTO, a no-reno flip or possibly even a rental. The key for me is that the owner is willing to do an AFS and I`m pretty sure I could negotiate it to happen with no cash... those things I like a lot but even though Tofield is only 45 minutes away it`s completely foreign to me.
I`m interested to know what the market is like there so if anyone has any insight I`d love to hear it.
QUOTE (tonypeters @ Nov 20 2009, 09:45 AM) Mike, my advice would be to get the house unbder "OPTION". Once you have done that you can "test the waters" by performing some local (low budget) marketing. If you are able to find somebody to "flip" or "Lease To Own" the house to, you can then exercise your Option to Purchase.
The beauty of this: There is absolutely NO risk to you, other than a little marketing!
QUOTE (tonypeters @ Nov 20 2009, 09:45 AM) Mike, my advice would be to get the house unbder "OPTION". Once you have done that you can "test the waters" by performing some local (low budget) marketing. If you are able to find somebody to "flip" or "Lease To Own" the house to, you can then exercise your Option to Purchase.
The beauty of this: There is absolutely NO risk to you, other than a little marketing!
Just an idea?
QUOTE (Manjurhusen1 @ Jan 12 2010, 04:33 AM) Thanks for advice
