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  1. #1
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    Default Landlord / Rental /Investment properties advice

    Are there any beyonders who have rental properties that could PM me please?
    I am looking for some advice and direction if one would be going into the direction of being a landlord.

    Thanks.

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    Quote Originally Posted by tonytiger55 View Post
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    Are there any beyonders who have rental properties that could PM me please?
    I am looking for some advice and direction if one would be going into the direction of being a landlord.

    Thanks.
    Step 1 - Look at any market but Calgary.

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    Step 2 - Ask yourself if you like headaches.

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    Step 3, invest elsewhere.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Step 4, lose far less money
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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    Step 5, don't listen to what is surprisingly good advice from beyonders and lose your fuckin shirt.

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    Do it if you are excellent in dealing with headaches! lol

    - - - Updated - - -

    Quote Originally Posted by R-Audi View Post
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    Step 2 - Ask yourself if you like headaches.
    oh haha great minds think alike
    Originally posted by rage2
    Shit, there's only 49 users here, I doubt we'll even break 100
    I am user #49

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    Current Landlord:
    I suggest you see step 1 but I am available if you want to PM and ask

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    Step 6, buy a REIT, stay liquid, and get exposure to RE without most of the headaches.

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    I am a landlord that never wanted to be a landlord. Ask away, maybe your questions and answers are useful for others to see

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    Step 1: Buy a brand new condo, but don't pre-buy early, buy it right as the building is going to be done so the early investors can pocket some cash
    Step 2: Look at the super low fees and fancy finishings, throw it into a calculator and look at how much bank you'll be making
    Step 3: Okay so it's taking a bit of time to find tenants but hey once I get some they'll stay long term!
    Step 4: Time to remember that taxes are a thing, condo fees go up, tenants damage shit, wait why is everything costing 500$ a month more
    Step 5: Who cares about negative cash flow, real estate always goes up so you'll make everything back in property value
    Step 6: Fuck the tenants moved out and now i gotta find new ones, another month of empty property
    Step 7: What the fuck, there's 4 new condo buildings all going up within a block of my new place? Also wait, buildings age? No one wants my 'brand new' 5 year old unit anymore?
    Step 8: Wtf my taxes doubled, I vote Nenshi every year, why are my taxes so high

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    Quote Originally Posted by you&me View Post
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    Step 1 - Look at any market but Calgary.
    Especially if you bought condos like me - I'm an idiot

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    Quote Originally Posted by A790 View Post
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    Step 6, buy a REIT, stay liquid, and get exposure to RE without most of the headaches.
    The only thing is real estate allows you to leverage more than you can with investing.

    That said... if i'd done this 5 years ago and just put my downpayments into REITs instead of condos... id be much further ahead

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    Quote Originally Posted by riander5 View Post
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    Especially if you bought condos like me - I'm an idiot

    - - - Updated - - -



    The only thing is real estate allows you to leverage more than you can with investing.

    That said... if i'd done this 5 years ago and just put my downpayments into REITs instead of condos... id be much further ahead
    You can always go on margin if you want to assume more risk

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    Quote Originally Posted by A790 View Post
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    You can always go on margin if you want to assume more risk
    True, i mean, anything would be better than the calgary condo market the last 5 years

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    Typically you don't see big swings in in real estate stocks to cover the normal 2-5 days for margin calls unless you know of insider information.

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    I know everyone kind of likes to dump on rental real-estate as an investment class but aren't most of the issues stuck on A) lack of appreciation of value and B) condos? Compared to the bizarre year over year increases in GVA & GTA, Calgary has lagged for many years but is owning a single family detached house in a good neighbourhood still a viable option?
    "Masked Bandit is a gateway drug for frugal spending." - Unknown303

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    I’ve had a rental property which I bought ~10 years ago, it’s a simple 50’s bungalow with a suited basement and it’s zoned RC-2. If I sold it tomorrow, i’m up 50% from when I bought it and it brings in ~$2400/month between the house and garage. I have no complaints and I wish I had multiples of this property.
    I like neat cars.

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    Step 7: Put your junk in that box.

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    Quote Originally Posted by Masked Bandit View Post
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    I know everyone kind of likes to dump on rental real-estate as an investment class but aren't most of the issues stuck on A) lack of appreciation of value and B) condos? Compared to the bizarre year over year increases in GVA & GTA, Calgary has lagged for many years but is owning a single family detached house in a good neighbourhood still a viable option?
    I just sold one of my rentals that closes on the 22nd. I'm looking at different houses for a new rental. I agree most resentment relates to the condo market.

    I'm looking into how viable an acreage style home could be as an option as the market for this type of rental is pretty sparse.

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    Quote Originally Posted by 90_Shelby View Post
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    I’ve had a rental property which I bought ~10 years ago, it’s a simple 50’s bungalow with a suited basement and it’s zoned RC-2. If I sold it tomorrow, i’m up 50% from when I bought it and it brings in ~$2400/month between the house and garage. I have no complaints and I wish I had multiples of this property.
    Here in Calgary? Have you done an evaluation on how that original investment would have done in a low cost index fund vs. the rental?
    "Masked Bandit is a gateway drug for frugal spending." - Unknown303

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