Calgary real estate prospects

[Buster]

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Similar to the SE

NE has better food, I'm pretty sure.

[ercchry]

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NE has better food, I'm pretty sure.

Not as good as west springs

[bjstare]

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Saw that too, never in a million years would i think id see that price there
https://calgaryhomes.ca/listing/a119...berta-t3j-0j1/

Ah yes, land of the unidriveway.

[killramos]

Is it still a unidriveway if you paint it red?

[ercchry]

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Is it still a unidriveway if you paint it red?

“Hard-scaping”

[ExtraSlow]

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I love how off the rails this has gone

Fuck I was in meetings for a few hours and this got awesome.

[kJUMP]

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Fuck I was in meetings for a few hours and this got awesome.

All I wanted was someone to help me understand my landlord accounting question.

[killramos]

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All I wanted was someone to help me understand my landlord accounting question.

Something something don’t be poor

[TomcoPDR]

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You damn well know the answer haha… but it’s still better than giving them a robinhood margin account with advanced options trading enabled

Or enroll them early as junior club members and start their networking journey

[killramos]

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Or enroll them early as junior club members and start their networking greaseball journey

ftfy

[TomcoPDR]

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It's by far the easiest way to become a leveraged investor at a young age. It was also a good vehicle for my immigrant family to build wealth in the 80's and 90's, although most of them have gotten away from rental properties because of the tremendous amount of personal effort involved and the types of people that so often had to deal with. You can't get away with half as much as they used to as landlords during those times now, the pendulum has swung very far in favour of the tenant in recent years.

I find it fascinating that so many people are willing to leverage to invest in rental houses but so few leverage to invest in equities and view that as "risky".

A fellow member could use your expertise advice. https://forums.beyond.ca/threads/415...ease-Agreement

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ftfy

Sell me this pen

[ExtraSlow]

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All I wanted was someone to help me understand my landlord accounting question.

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Have people not heard of dividend investing? Index ETF's? Liquid and low cost seems like a better proposition.

I still think this was legit advice. I had to search my own post history to find it, and turns out I've posted in this thread 174 times before this. Fucking hell, I thought I mostly ignored this stupidity. I vow to become a better person. Probably next week.

[89coupe]

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I still think this was legit advice. I had to search my own post history to find it, and turns out I've posted in this thread 174 times before this. Fucking hell, I thought I mostly ignored this stupidity. I vow to become a better person. Probably next week.

Your employer must be so proud of your productive time on their dime.

Star employee.

[ExtraSlow]

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your employer must be so proud of your productive time on their dime.

Star employee.

qft.

[ExtraSlow]

For reference, the other Brad insulted my work ethic more effectively.

[arcticcat522]

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... And no one is helping me with my accounting question (post #1670)

I may not understand it fully, but if you show a loss on paper, the principal that has been paid off by the tenant isn't taxed (bigger income tax return) Goal of any business is to not make money on paper. That's probably not an answer to the question, but how I interpreted it....

[killramos]

The thing with losses on paper. Is they tend to represent losses in real life too lol

[arcticcat522]

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The thing with losses on paper. Is they tend to represent losses in real life too lol

You need a better accountant....

ĢOD.....I need a physical keyboard back on my phone

[ThePenIsMightier]

Is articrat having a strook?

[ercchry]

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All I wanted was someone to help me understand my landlord accounting question.

He is claiming CCA.. and yea it can bite you in the ass at time of sale:

Selling the property may result in a “recapture” of your CCA. You would add this recaptured amount to your taxable income when preparing your tax return. Recapture may happen if upon selling the property the proceeds from the sale exceed the remaining undepreciated capital cost. Your undepreciated capital cost is the capital cost of all your depreciable property in the class subtracted from the allowance you claimed in prior years. Alternatively, you might be allowed to take a “terminal loss” deduction from your income. Terminal loss is when you don’t have any depreciable property in the class at the end of the year, but you have an outstanding CCA amount that you have not claimed. “Upon sale, any profit you earned on the rental property over and above your initial cost will be treated as a capital gain. Capital gains are taxed at 50 percent of the gain, whereas recapture is 100 percent taxable,”