Calgary real estate prospects

[pheoxs]

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Knowing what I know now, I really should have built the cheapest house possible with a mother-in-law suite above a detached garage. Officially in the "condos are horrendous investments" camp. Even a $200k meth house in Edmonton would have been more financially profitable.

Sorta what we’re looking at doing. 800sqft in the back to build a garage, might as well spend the 200k and do a suite there. In 5 years we should be able to bring in 75k in rent give or take. Seems pretty quick pay back plus the actual property value increase itself.

[mr2mike]

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I’ve been around 35 year olds who look older than me lol.

[killramos]

Gold

[riander5]

'Hello fellow 35 year olds!'

[dubhead]

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Knowing what I know now, I really should have built the cheapest house possible with a mother-in-law suite above a detached garage. Officially in the "condos are horrendous investments" camp. Even a $200k meth house in Edmonton would have been more financially profitable.

Picked the wrong time to move back to Calgary and have officially in the condos are horrendous investment camp. Bought mine in Edmonton for 270 in 2017 lived in it till a week ago currently owe 220, lowest listing in the building right now 191. Number of comparable condo sales in the last 60 days 1.

Looking like I'm going to be forced into being a land lord with negative cash flow for awhile in hopes it goes up at somepoint Luckily the wife just got a fat inheritance to help float us through this mess.

[bjstare]

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Picked the wrong time to move back to Calgary and have officially in the condos are horrendous investment camp. Bought mine in Edmonton for 270 in 2017 lived in it till a week ago currently owe 220, lowest listing in the building right now 191. Number of comparable condo sales in the last 60 days 1.

Looking like I'm going to be forced into being a land lord with negative cash flow for awhile in hopes it goes up at somepoint Luckily the wife just got a fat inheritance to help float us through this mess.

Or sell it, use the inheritance to cover the loss, and not worry about prices not recovering + additional special assessments + the headache of being a landlord.

[Buster]

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Or sell it, use the inheritance to cover the loss, and not worry about prices not recovering + additional special assessments + the headache of being a landlord.

this.

[ExtraSlow]

guise, if I have an investment I hate, of course I need to keep it long term.

[Tik-Tok]

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guise, if I have an investment I hate, of course I need to keep it long term.
[ATTACH=CONFIG][/ATTACH]

*Immediately checks MYCO price

[Twin_Cam_Turbo]

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Or sell it, use the inheritance to cover the loss, and not worry about prices not recovering + additional special assessments + the headache of being a landlord.

+1 for this.

It could get better…but it could also get a lot worse too.

[Buster]

Real estate is my favorite asset class

[jutes]

Life is too short to worry about debt.

[dubhead]

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Or sell it, use the inheritance to cover the loss, and not worry about prices not recovering + additional special assessments + the headache of being a landlord.

Yeah just have to convince her to write me a Cheque for 30+k to pay off a condo I bought…. Wish me luck

[killramos]

Ask her if she would prefer to write you a 60k cheque next year

[Buster]

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Ask her if she would prefer to write you a 60k cheque next year

fucking savage, lol

[ExtraSlow]

Tell her that you want a divorce and half the debt is hers and half that inheritance is yours already.

[max_boost]

Killy just saying things on beyond he can’t say at home lol

[killramos]

Some people need to be told

[suntan]

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Picked the wrong time to move back to Calgary and have officially in the condos are horrendous investment camp. Bought mine in Edmonton for 270 in 2017 lived in it till a week ago currently owe 220, lowest listing in the building right now 191. Number of comparable condo sales in the last 60 days 1.

Looking like I'm going to be forced into being a land lord with negative cash flow for awhile in hopes it goes up at somepoint Luckily the wife just got a fat inheritance to help float us through this mess.

Bad luck. Unless you can hold onto it for the next 10 years, sell it. Even then, I absolutely guarantee you the next mortgage on it, the rate will be more than what you have now.

[bjstare]

Is this the time where I mention how silly it is to have separate finances from your spouse?