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03-05-2016, 07:10 PM
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Join Date: Jul 2009
Location: GP AB
Posts: 16,372
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Quote:
Originally Posted by SumoPerchWrestling
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Not sure where you have been over the last year but currently and in the near future real estate prices will/and are declining.The average home in FRT MAC has dropped by an average of 170k$.Many people walking away from mortgages etc.The near future is going to be the best time to buy.Lower prices,low interest rates,no brainer. But once again you have to tell someone they're wrong,just like every other post you entered with zero input again.
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I've owned plenty of real estate, and bought and sold and done well to get to where I am. Currently, I'm quite content to invest elsewhere. I'll stick with Jarislowsky Fraser. But you do need $1M to play at their table, so it's not for everyone. You feel free to go buy in Ft. Mac, and hold, and pay the property tax. I'm sure you will do very well eventually.
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'Once the monkeys learn they can vote themselves a banana, they'll never climb another tree.'. Robert Heinlein
'You can accomplish a lot more with a kind word and a gun, than with a kind word alone.' Al Capone
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03-05-2016, 07:32 PM
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Join Date: Jul 2009
Location: GP AB
Posts: 16,372
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Quote:
Originally Posted by SumoPerchWrestling
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Prices have certainly dropped there, and a few other places in Alberta as well. I think you should go buy there if that is where your confidence is to invest.. It will come back some day for sure. Probably. Some day. I'm going to stick with the financial advice I've had, and which has proven very reliable.
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'Once the monkeys learn they can vote themselves a banana, they'll never climb another tree.'. Robert Heinlein
'You can accomplish a lot more with a kind word and a gun, than with a kind word alone.' Al Capone
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03-06-2016, 12:41 AM
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Moderator
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Join Date: Feb 2015
Posts: 7,803
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Quote:
Originally Posted by SumoPerchWrestling
$
Not sure where you have been over the last year but currently and in the near future real estate prices will/and are declining.The average home in FRT MAC has dropped by an average of 170k$.Many people walking away from mortgages etc.The near future is going to be the best time to buy.Lower prices,low interest rates,no brainer. But once again you have to tell someone they're wrong,just like every other post you entered with zero input again.
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I knew a guy who had about 15 rental properties. The real estate market dropped and his friend who had his money in stocks was razzing him. The response was basically "As long as those properties are rented at the current rent, I couldn't care less what they are worth right now as I have no intention of selling them, and I'm still making $15k a month". If you set it up right, the big gain in real estate is having someone else adding to your equity, depending upon market swings to make a profit is ill advised.
Last edited by Trochu; 03-06-2016 at 12:47 AM.
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03-06-2016, 04:33 PM
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Join Date: Apr 2011
Posts: 1,248
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I've been using ATB investor services for a few years it's been working out pretty good. I'm only using a compass balanced portfolio for my tfsa and a conservative balanced in a registered account. I'm not hitting any home runs with these portfolios but I'm also not letting my money sit doing nothing in a high interest savings account.
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Never celebrate till you got your knife stuck in it !
Some times you catch the Big fish, some times you get stuck in Chip
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03-06-2016, 07:12 PM
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Join Date: Oct 2009
Location: Okotoks
Posts: 1,075
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Quote:
Originally Posted by Trochu
I knew a guy who had about 15 rental properties. The real estate market dropped and his friend who had his money in stocks was razzing him. The response was basically "As long as those properties are rented at the current rent, I couldn't care less what they are worth right now as I have no intention of selling them, and I'm still making $15k a month". If you set it up right, the big gain in real estate is having someone else adding to your equity, depending upon market swings to make a profit is ill advised.
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Big risk here is renewal time. Most tenants I know now are saying after my one year lease is up I'm going to my landlord and it's payback time now that it's a renter's market. I know guys with rentals in Fort McMurray that have gone from getting $2500 + DD + a bunch of limits (no smokers/drinkers/pets/commuter who is gone on weekends only, etc) for a 2 bedroom basement rental to now offering them for sub $1400 and they're sitting for months and they are now offering free utilities and furnished if someone signs a 6 month lease.
Those same guys are still sitting on a big mortgage from when they bought 5 years ago and banked on that money to pay the rent......they are now selling for a significant loss (if anyone buys it).
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03-06-2016, 07:32 PM
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Join Date: Apr 2011
Location: Viking
Posts: 1,220
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I've never regretted buying land. I thinking housing is going to go down lots yet but farmland is still in demand. Rent it out, hunt on it and let the price/acre go up.
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03-07-2016, 10:20 AM
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Join Date: May 2010
Location: edmonton
Posts: 3,878
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this year the market feels like second half 2007, might be worth it to wait it out a year...then maybe longer, cause the Dow its trying to test/regain the 18000 mark and if it fail to hold and the slide will be like 2008 and there not much holding it up... reason i am looking at Dow instead of s&p its cause last time it was financial and this time its commodities like oil and mining, china is not in good shape internally cost of living its getting tight , India commodities demands pick up very slowly, still a few decades behind.
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