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.This quote is hidden because you are ignoring this member. Show Quote
Step 2 - Ask yourself if you like headaches.
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.This quote is hidden because you are ignoring this member. Show Quote
Step 5, don't listen to what is surprisingly good advice from beyonders and lose your fuckin shirt.
Do it if you are excellent in dealing with headaches! lol
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oh haha great minds think alikeThis quote is hidden because you are ignoring this member. Show Quote
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Current Landlord:
I suggest you see step 1 but I am available if you want to PM and ask
Step 6, buy a REIT, stay liquid, and get exposure to RE without most of the headaches.
I am a landlord that never wanted to be a landlord. Ask away, maybe your questions and answers are useful for others to see
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
Especially if you bought condos like me - I'm an idiotThis quote is hidden because you are ignoring this member. Show Quote
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The only thing is real estate allows you to leverage more than you can with investing.This quote is hidden because you are ignoring this member. Show Quote
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 riskThis quote is hidden because you are ignoring this member. Show Quote
True, i mean, anything would be better than the calgary condo market the last 5 yearsThis quote is hidden because you are ignoring this member. Show Quote
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.
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
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.
Step 7: Put your junk in that box.
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.This quote is hidden because you are ignoring this member. Show Quote
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.
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?This quote is hidden because you are ignoring this member. Show Quote
"Masked Bandit is a gateway drug for frugal spending." - Unknown303