Buying Your First Rental Property in Edmonton (2025)

By Wayne Hillier, Real Estate Investing Masters

July 14, 2025 | Edmonton, AB

Thinking about buying your first rental property in Edmonton? You're not alone. Many new investors are excited about Edmonton's potential but aren't sure where to start or what to buy. In this article, we break down the essential steps for first-time buyers looking to make smart, profitable decisions.

Step 1: Get Pre-Approved

Before you even look at a property, you need to understand what you can afford. That means getting pre-approved by a mortgage broker or lender.

Your pre-approval tells you your price range, but you also need to evaluate how much capital you have set aside for renovations, upgrades, or unexpected repairs. Your buying power includes both the purchase price and your ability to improve or stabilize the property.

Step 2: Define Your Investment Priorities

Not every rental property is right for every investor. Get clear on your key goals:

• Do you want strong monthly cash flow?

• Are you targeting a specific tenant profile?

• Are you looking for low vacancy areas?

• Is long-term appreciation important to you?

Once you know your priorities and your financial boundaries, you'll be better equipped to find the right neighborhoods and property types.

Step 3: Search Strategically

Too many buyers chase listings they find online without strategy. Instead, create a curated property search that focuses on:

• Your non-negotiables

• Both on-market and off-market opportunities

• Expired or terminated listings (sellers who still want to sell but aren’t active)

This kind of search increases your chances of landing a high-performing rental that matches your goals.

Step 4: Don’t Skip Due Diligence

A common mistake investors make is rushing into a deal because a property looks good on paper or has a legal suite. If you don’t understand the neighborhood, tenant demand, or financial performance, you could end up with results that don’t match your expectations.

A successful investment begins with research, not assumptions.

Is Now a Good Time to Buy in Edmonton?

Yes. There has been some softening in the market, and as we head into the later part of 2025, we expect more investor-friendly deals to surface. This is a great time for new buyers to enter the Edmonton market with a plan.

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Wayne Hillier - Alberta Real Estate Investing Expert

About the Author

Wayne Hillier is one of Canada’s trusted experts in real estate investing education, specializing in Alberta’s thriving markets. Based in Edmonton, Wayne has over a decade of experience building a high-performing rental portfolio and coaching investors to achieve strong cash flow, sustainable wealth, and creative financing success. As co-founder of Real Estate Investing Masters, Wayne is a respected real estate investing coach and mentor, dedicated to helping Canadian investors confidently scale their portfolios. He is also the host of The Real Estate Investing Morning Show, Canada’s #1 daily podcast for real estate investing education.