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Fort McMurray, AB: Good place to invest?

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AbbottStu | 12 Nov 2014, 04:11 PM Agree 0
I have two properties in Edmonton and I’m looking to invest in a third property in Northern Alberta. I’ve read reports of high returns due to lower property values, high rents, and the tenants make a lot of cash. Has anyone heard about good opportunities up there or invested in a place like Fort Mac?
  • InvestJ | 02 Dec 2014, 03:21 PM Agree 0
    I heard about a lot of people doing well in Fort McMurray. There is a population boom happening in Alberta in general because of high incomes and affordable homes. It’s alternative to big markets such as Toronto, Vancouver and Calgary and it’s one of the markets that investors have been going to. Be selective with the neighbourhood and area you choose to live in. Do your research.
  • ThreeNorth | 09 Dec 2014, 11:04 AM Agree 0
    Fort Mac has historically been a good investment as its a boom town, and rents are always sky high due to no supply and high demand. Historically they have only had so much land to build on, and only so many developers that build homes ( why build home if you can work in the oil patch for more money), limiting supply, but demand kept growing from migrant workers moving to FT Mac. My opinion ( and its just that), is that Wood Buffalo has ( last year I believe) approved a LARGE parcel of land for redevelopment into residential. This will increase supply, and drive the prices down, which will in turn reduce rental rates.

    Mortgage pay down would be your main investment strategy up there going forward as I forecast downward pressure on prices and rents. Falling oil prices wont help the situation either, and anything for oil under $80BBL will delay/cancel most SAGD and mine expansions.
  • AbbottStu | 09 Dec 2014, 11:08 AM Agree 0
    You've given me a lot to think about. Thanks for the advice. Any other hotspots you're aware close to Fort McMurray that may pay some dividends?
  • | 12 Feb 2015, 03:34 AM Agree 1
    Alberta, one of the largest state in Canada, has been in the news for its rapid industrial growth and booming property market.Record lows are cited as another crucial reason for increased affordability and it is highly expected that this trend will continue. Calgary property agents suggest clients to structure their budget in such a way that it will be loaded with high interest rate so that they can avoid unwanted risk.

    Calgary is the beautiful city in Alberta. It is famous for real estate investment.The city of Calgary is ideal for everybody and it offers the opportunity to choose where you want to buy property in and around the Calgary area. Sellers have a wonderful list about all the properties that are on sale and are very good at finding the right one for their clients. The city of Calgary has a thriving economy, quality homes and great education options. It is also well known for becoming one of the world's most precious suppliers of oil. The Calgary area is also a great tourisms hot spot and every year more than 3 million people come to visit this great city.

    So after considering all these facts I must say that yes you can invest in Alberta. And the ROI is also very good. So its a win-win situation for you.
  • Ralph | 03 Sep 2015, 04:12 PM Agree 0
    Look into Dawson Creek BC, upcoming next Fort McMurray. Oil is low but LNG is booming there. 604-235-2370 for info.
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