QUOTE (JeffSmith @ Dec 7 2007, 09:16 PM) I am from Moncton and presently live in the Edmonton area(for a total of 10 years). The current stint has been since 2002. I was involved in the real estate industry in the maritimes, based in Moncton, for 5 years in the `90`s. I have been back many times since, most recently in Feb. 2007. Not much has changed. Alberta has been very, very good to me. No other area can compare from an investment view.
Please do a Gold Mine Scorecard for St. John. If you have $ to invest compare the fundamentals to Alberta. Do your due diligence and that will determine your avenue for investment. I don`t think it can compare to the long term prospects for Alberta.
On the positive side St. John has the largest oil refinery in Canada(sorry Edmonton) and I have info that it is scheduled for expansion.
If Alberta isn`t feasible, how can St. John be feasible?
Not denying the fundamentals in Alberta or BC, but I have not been able to find any properties within my price range (currently $150,000 and under) that would allow for positive cashflow. I`ve looked (via MLS) at many areas in Alberta with very little success. In the Edmonton area, this price apears to only purchase condo`s and/or mobile homes. Eventhough I am a bit fearful of condo`s due to our BC Condo crisis (leaky condo`s continue to be found), I have attempted to run the numbers and have not found any even close to breaking even or having positive cashflow.
But in the end, I am a new real estate investor. I`ve had success flipping condo`s in the BC market, but this doesn`t compare to finding good quality rentals that will provide monthly cashflow.
If you have any suggestions and/or examples of good deals (even ones that you have purchased in the past), please let me know. Might give me some hope for the area.
As far as Saint John, I have looked at the fundamentals and they do look decent, especially in key areas, but I don`t expect the types of annual returns I would in BC or Alberta.
Thanks once again for your input.
Robert