Investing in Edmonton/Calgary Question

[DaveL]

My wife went to the BC ACRE Weekend and spoke with one lady who had some properties in Abbotsford, Edmonton and Calgary. She mentioned to my wife that she has had better success in Abbey then Calgary and Edmonton. My wife asked her why and she had mentioned that while Calgary and Edmonton are great fundamentally the people that come to work there follow the work and so her property managers are frequently looking for new tenants. Just wondering if anyone else has had a similar situation or the exact oppostie.

Thanks!

 

[DaveRhydderch]

QUOTE (DaveL @ Jun 14 2010, 03:37 PM) My wife went to the BC ACRE Weekend and spoke with one lady who had some properties in Abbotsford, Edmonton and Calgary. She mentioned to my wife that she has had better success in Abbey then Calgary and Edmonton. My wife asked her why and she had mentioned that while Calgary and Edmonton are great fundamentally the people that come to work there follow the work and so her property managers are frequently looking for new tenants. Just wondering if anyone else has had a similar situation or the exact oppostie.

Thanks!

It would be interesting to know the time frame. As a property owner in Calgary, things have been a little slower than they were a couple of years ago, but overall still quite solid. I have a funny feeling this may be a case of poor property managment. Sounds like the lady your wife spoke to lives near her rental properties and maybe manages them herself. Or at the very least, knew some people she could get a referral from.

 

[bizaro86]

QUOTE (DaveRhydderch @ Jun 14 2010, 04:40 PM) It would be interesting to know the time frame. As a property owner in Calgary, things have been a little slower than they were a couple of years ago, but overall still quite solid. I have a funny feeling this may be a case of poor property managment. Sounds like the lady your wife spoke to lives near her rental properties and maybe manages them herself. Or at the very least, knew some people she could get a referral from.

I`d add that it could be a location issue. Calgary and Edmonton both have areas that are better and worse, just like every other city. Its reasonable to expect that someone who lives in Abbotsford would have a better handle on the areas to invest in over there than here in Alberta.

Michael

 

[Thomas Beyer]

We own and/or manage in all 3 cities.

it depends really on SPECIFIC sub-area and SPECIFIC price and SPECIFIC price you paid .. as all 3 cities have strong fundamentals but also their weak areas .. and it also depends on price you paid and condition of property !

It`s a bit like: I went to a restaurant and had lamb .. and it wasn`t all that great .. then I went to a 2nd one 3 weeks later and had lobster .. lobster was fantastic .. does this mean lobster is always better than lamb ?