Buying Investment Properties
Your destination for information on buying investment properties in Lethbridge.
A benefit of Lethbridge is that while are located in Alberta, we are not directly related to oil and gas. We are more agricultural based and have a very strong and diverse economy. Investors tend to do well in this area based on the student population alone. This helps investors when they are looking for profitable properties that are also affordable, this increases the strength of the pool of tenants that a landlord has to select from.
The West Side of Lethbridge is an ideal location to own a rental property, it has the University, which hosts over 10,000 students. The University is also in the process of building a $180 million addition to the University, which will increase the influx of student renters. The West Side is also an ideal location as they just added in a brand new leisure centre which has water slides, wave pool, arenas, a track and a large commercial area. There are plenty of multi-family homes around the leisure centre and many families are wanting to move to be closer to it.
The South Side is where all of the downtown businesses are located, many people like the location for proximity to work, shopping malls and a multitude of restaurants.
Many owners have benefitted from owning a single family home that has been modified to include a separate suite in the basement. Essentially, the idea is that the homeowner can live upstairs while renting the basement out to tenants, and therefore supplementing their mortgage payment.
Another option to this would be that you can rent out both the main floor and the basement to separate tenants which increases your cash flow significantly.