Investing in a property in sage hill, kincora, nolan hill, etc

[nagooro]

Has anyone invested in a condo/townhome in the newer communities north of stoney?
I was looking at a few condos for investment purposes, and am curious to know if anyone has first hand experience in the area, and how it is finding renters.

Also, would you ever invest or rent in a main floor condo unit? Found a decently priced one for sale, however my only hesitation is that its on the main floor. I personally would rather rent on a higher floor so maybe I'm bias, not sure what the general consesus is though.

Any insight would be great.

Thanks

[jwslam]

I've heard lots about Viridian on the radio. Also interested, and have the same questions.

I guess the biggest issue is it's not very attrative in terms of parking?

[ExtraSlow]

Serious question, what's the attraction of living that far out from the "real" city if you aren't going to at least own a house with a yard? Lots of condos and townhomes much closer to where people work.

[guessboi]

I would rather buy a highrise condo in DT and rent it out.

[jwslam]

Originally posted by guessboi
I would rather buy a highrise condo in DT and rent it out.

Some of us wanna be budget landlords

[The_1]

be careful when looking in Kincora
those are Pointe of View condos!

[Xtrema]

Originally posted by ExtraSlow
Serious question, what's the attraction of living that far out from the "real" city if you aren't going to at least own a house with a yard? Lots of condos and townhomes much closer to where people work.

You have to start ownership somewhere. These units can be in the low $200s and perfect for someone to start ownership.

That said, as a rental unit, it may not be as attractive because the lack of transportation options. You can't really do carless.

You are not lack of competition either. Just go to rentfaster.ca and search. Most rental is between 1200-1500/mth. Not hard to be cash flow positive if you get it rented out.

With all the wooden condos, I would say get out within 5 years of built date. There's going to be too much upkeep and rise in condo fees that will eat into your profit.

[Toma]

Originally posted by jwslam

Some of us wanna be budget landlords

Buy an up down in Forrest Lawn, or with an illegal suit, and bring it to code.

Got my Fancy "Registered Secondary Suite Program" stickers today, even though my suite has been legal for 3 years now haha.

[Toma]

Originally posted by Xtrema


You have to start ownership somewhere. These units can be in the low $200s and perfect for someone to start ownership.

That said, as a rental unit, it may not be as attractive because the lack of transportation options. You can't really do carless.

You are not lack of competition either. Just go to rentfaster.ca and search. Most rental is between 1200-1500/mth. Not hard to be cash flow positive if you get it rented out.

With all the wooden condos, I would say get out within 5 years of built date. There's going to be too much upkeep and rise in condo fees that will eat into your profit.

What? These are condos? What are the condo fees?

Poor investment in a recession, for a first time buyer, and likely yield a very poor rental income.

I would exclusively buy 2 suite capable homes, that need work.

I would still wait 6 months for more layoffs and price drops, and contractor labor rates will plummet.