Edmonton Real Estate Blog

Risk management is all about controlling and minimizing your exposure to the negative impacts of forces beyond your control. We here at Team Leading Edge have gathered the top 5 things we consider a must-do to avoid all those unnecessary loses in your Edmonton real estate investments.

1. TRUST YOUR GUT INSTINCT, NEVER LISTEN TO OTHERS WHO HAVE TO REAL ESTATE INVESTMENT. Top of the list, we would like to put strong emphasize on this. Just as you would not trust a medical prescription being given by a non-medical person, so should you not also listen to those real estate opinions and advises being given by non-real estate investors.
2. NOT TAKING THE REPAIRS SERIOUSLY. Underestimating the repairs that should be done in your real estate investment could and would be a very costly one. Avoid this trap by hiring professional contractors to assess and fix all needed repairs.
3. NOT HAVING THE STOMACH FOR VOLATILITY. Like any other investment, the real estate market is also a volatile place, although not as crazy as the stock market, but still, volatile. Even as the Edmonton housing market right now is on a strong projected growth, as an investor, you should not put your guards down. Swings in the market a real! In order to avoid any huge loses, stand firm on your ground and keep at it even if the market is down.
4. CASH FLOW>APPRECIATION.Cash flow would always be king in the long run. Americans fell hard when their economy collapsed because of the real estate bubbles. People there thought they could make money through appreciation-they were dead wrong. Their country almost got bankrupt out of it. Avoid this mistake by investing with cash flow in mind, rentals with a net of 10% and up would be the most ideal.
5. NEVER THINK YOU KNOW EVERYTHING. It’s typically a beginner’s mistake. Books, web articles, seminars, all of those are great materials for gaining knowledge but nothing would ever beat experience. If you’re seriously sticking in this real estate game, it would be wise to find a seasoned coach. A veteran mentor that have the “been there, done that” kind of stuff. Reduce the learning curve by investing with such a mentor-the things you’ll learn would be priceless!

If you’re looking for new real estate investments, you’re in luck! We have one of the best real estate projects in town. A Team Leading Edge exclusive, newly built available for you. Check all of the out here.

This morning I received an interesting article from Doug Bodtcher of Investors Group Financial Services Inc. Entitled “Achieve investment goals with less volatility”, articles like these is best shared to everyone.

While the city of Edmonton is enjoying a strong economic growth, it doesn’t mean you have to take higher risks to gain more profit. An excerpt from the article “The trade-off between risk and return is one of the most important decisions that an investor has to make.”

He further adds “A low volatility strategy is designed to produce less risk than the broad market. It allows investors to participate in positive market conditions and potentially shelters their investment from excessive market volatility.”

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The more investment knowledge you have, the better chances you’ll get in earning more money.

For real estate investments, do check out our Edmonton MLS listings. Updated daily for your convenience.

Great that you want to capitalize on the real estate growth of Edmonton. Having an investment in rental properties is one of the best things you could have in today’s economic environment.
Here at Team Leading Edge, we gathered the 5 simple things you can do to get those great tenants and start earning passive income, fast!

1.    FIRST IMPRESSIONS LAST-TAKE CARE OF THE YARD!

Yes, first impressions do last and it speaks true to your home. If you want great tenants, you must present a great home. Start with your front yard as it is the very first thing that potential tenants would see. Do all the necessary stuff to make it look awesome; mow, trim, prune. Just remember, the things you did at the front, you must also do at the back.

No need to drop a big amount of cash just to make the front and back yard look beautiful. Minor adjustments would do the trick such as installing new light fixtures and painting the mailbox.
2.    SPEAKING OF PAINT

Since the home will be used for rental, no need to paint in your favorites colors. Simply go with neutral colors of different shades in different rooms. Rule of thumb is to make the interior color “warm” to its potential tenants.
3.    TIDY UP MY FRIEND

Time for you to remove clutter and all personal things inside the house. We know it sounds obvious but it won’t hurt to remind you again to clean, scrub and dust every nook and cranny of the house. The more storage and floor space you create, the closer you get to bagging that rental deal.
4.    THE KITCHEN

The kitchen is the heart of the home, it’s where the lady of the house makes her magic happen so try to pay special attention to this one. Assuming you have “clean, scrub and dust” every nook and cranny, then you’re already safe. Time to move on to the last one.
5.    THE BATHROOM

It’s basically the second place where dirt accumulates all the time, mold in particular is one of the nastiest things that may inhabit this part of the house. Make sure to remove all molds from the grout. The easiest and cheapest way to remove this is through the help of lemon juice. (apply, scrub, scrub, apply, scrub, rinse, you’re done!)

Double check toilet seats if it needs replacements and also check for grime and scum in the shower area (prepare yourself to do some scrubbing again).
Lastly, make the new tenants feel beautiful with a newly washed and sparking clean bathroom mirror.

There you have it, a few minor tweaks and you’re all set to close the deal and receive that income stream.
Do check out our Edmonton MLS for all the available investment properties for sale in the Edmonton and nearby area.