The 12 Buying Criteria we use to find the best investment properties in Edmonton
Since we became investors and property managers in Edmonton back in 2003, we’ve bought over 130 investment properties and managed over 450. That means we’ve pretty much got picking perfect properties down to a science. These are the 12 proven Criteria we use to snag the best investment properties in Edmonton.
1. Targets a “Medium” to “Strong” Tenant Profile
2. Located in middle-class communities (no low-income areas)
3. Located in mature areas
4. Close to major roadways
5. Close to bus routes/major bus terminal and within 3000m of an LRT or future LRT line
6. Built between 1955 and 1970
7. Bungalow with 1050 – 1250 + square feet
8. Has a garage with back alley access
9. Close to good/great elementary school
10. Close to shopping
11. Close to a Starbucks
12. No busy streets close-by
Really, what it comes down to is knowing who your Ideal Tenant is (age, income, demographics, behaviour) and targeting those areas with your property search. You’ll secure the right tenant for your rental income goals and you’ll also gain stability from the market for the long haul.
When we invest in properties that match the 12 Criteria, we’ve found that 3 important things happen:
1. It’s exponentially easier to attract and retain good tenants
2. Demand for the rental property remains high and there is a solid, steady cash flow
3. It’s easier to sell the property when that time comes