DAWN OF A NEW ERA … OR … THE EVER-CHANGING RULES OF THE GAME?
It’s been quite a week for Albertans! The election has produced a new federal government “ish.” And our provincial government has released their budget. News items include more layoffs in oil and gas, and even cutbacks to government jobs and union wages. Have you heard all the grumbling in the streets? Of course! Unless you somehow live in complete isolation.
Many had hoped for something new, something almost magical: the dawn of a new era that would bring back “the good ole’ days.” Oh dear, it’s been a tough week for those folks.
Speaking of that time, do you remember playing Monopoly as a kid? Or as an adult? Maybe that game even sparked your interest in real estate investing? That wonderful game had a set of rules. That’s it. Nothing ever changed, and you knew all the rules before you sat down.
Reality is, the new era of real estate investing is all about rules that change, and change, and change again. Wishing for a new dawn or a magic bullet won’t affect today’s reality. As far as we can see, the best way to play the real estate investing game is no longer location/location/location—now it’s adapt, adapt, adapt.
So now what? This winter will be a great opportunity for deals as we continue to bounce along the bottom of the real estate cycle. We will continue buying for cashflow—a lofty goal in some areas of the country. And of course we love our mortgage paydown—by our tenants. But the cautious investors will understand that appreciation in this market is rare, and cannot be banked on. We will continue using every tool in our belt to buy in good areas, with good transportation.
Where others are discouraged, we are adapting and seizing opportunities. We loved that old board game, but real-world Monopoly calls for a different strategy. The more knowledge and experience you and your partners have, the better you’ll be able to create your financial freedom through real estate. Give us a call anytime to discuss opportunities for making money—yup, even in this market! FB @ MtnEdgeDevelops; https://mountainsedgedevelopments.com/.
