Greetings from Calgary,AB, Canada

17 Replies

Hello from Calgary, Canada!

I'm currently in my mid 20's and looking to purchase my first property which is why I decided to sign up and learn then apply as much as I can before purchasing. I strongly feel RE in my area will pick up in the upcoming years so I would like to get a head start on that! Not sure how many Canadians are on here but I'm sure most of the information is interchangable! Also looking to learn about RE down south, as the wifey is from Seattle!

@Vincent A. - Welcome to the BP Community and hello from Boise, ID! I'm sure you will find some great information that will help you take a jump into this investing journey!  I'm so glad I started about 15 years ago!  It can be scary at first, but after that first or second deal, it gets a little easier.  Good luck, Vincent!

Hello @Vincent A. and welcome to Bigger Pockets! BP is the ultimate real estate investing site around. There are helpful and exciting things going on. Free informative forums, podcasts, etc. to learn about real estate investing, you can network with both new and experienced investors and you will learn how to get deals done the right way. You have come to the right place.  We primarily focus on unimproved land all over the country (& some Canada) and have found that very profitable and we can do it from ANYWHERE.  Good luck and let me know if I can help in any way!

Originally posted by @Vincent A. :

Hello from Calgary, Canada!

I'm currently in my mid 20's and looking to purchase my first property which is why I decided to sign up and learn then apply as much as I can before purchasing. I strongly feel RE in my area will pick up in the upcoming years so I would like to get a head start on that! Not sure how many Canadians are on here but I'm sure most of the information is interchangable! Also looking to learn about RE down south, as the wifey is from Seattle!

I was there 2 weeks ago

Still stunned by two things

1.  That comparatively Buffalo is warm 

2.  How little you get in real estate for 1 million USD

BUT if the weather got markedly better and real estate dropped in half I would move there immediately 

The people are fantastic and crime is basically nonexistent 

GREAT city for sure and Banff I mean come in it is amazing 

Originally posted by @Jonna Weber :

@Vincent Aldaba - Welcome to the BP Community and hello from Boise, ID! I'm sure you will find some great information that will help you take a jump into this investing journey!  I'm so glad I started about 15 years ago!  It can be scary at first, but after that first or second deal, it gets a little easier.  Good luck, Vincent!

 I'm really excited to get started! I'm already taking in some great info on the podcast and will look more into the forums and apply the knowledge soon! Thanks Jonna!

Originally posted by @Brianne H. :

Hello fellow Calgarian! What are you looking to invest in? 

Hi Brianne! Good to know there are also some fellow Calgarians here! My initial thought thought on investment due to my current situation was just a condo unit or townhouse, but looking on MLS and the strata fees I find are just ridiculous sometime and I feel like these could eat up costs as well as defer any potential future buyers.

What do you think?

Originally posted by @Account Closed :

Hello @Vincent Aldaba and welcome to Bigger Pockets! BP is the ultimate real estate investing site around. There are helpful and exciting things going on. Free informative forums, podcasts, etc. to learn about real estate investing, you can network with both new and experienced investors and you will learn how to get deals done the right way. You have come to the right place.  We primarily focus on unimproved land all over the country (& some Canada) and have found that very profitable and we can do it from ANYWHERE.  Good luck and let me know if I can help in any way!

 Hi Anthony! Thanks for reaching out and I will definitely let you know! I haven't dug very deep into the forums yet but it's good to know that there is information out there for me that isn't scattered all over the web and I can just find in one place. Right now, I'm supplementing myself with the podcasts and will be reading the Ultimate Beginners Guide in the next week!

Originally posted by @Michael Plante :
Originally posted by @Vincent Aldaba:

Hello from Calgary, Canada!

I'm currently in my mid 20's and looking to purchase my first property which is why I decided to sign up and learn then apply as much as I can before purchasing. I strongly feel RE in my area will pick up in the upcoming years so I would like to get a head start on that! Not sure how many Canadians are on here but I'm sure most of the information is interchangable! Also looking to learn about RE down south, as the wifey is from Seattle!

I was there 2 weeks ago

Still stunned by two things

1.  That comparatively Buffalo is warm 

2.  How little you get in real estate for 1 million USD

BUT if the weather got markedly better and real estate dropped in half I would move there immediately 

The people are fantastic and crime is basically nonexistent 

GREAT city for sure and Banff I mean come in it is amazing 

 Hey Michael!

Calgary does have it's cold stretches but on occasion we get a sudden increase of warm winds from the mountains that drastically warms up on a December. Canada definitely has a different market when compared to the U.S. in terms on how much property you can get for a set dollar amount. I believe Calgary will be the next emerging RE market in Canada as Vancouver & Toronto are getting very saturated and the prices are just out of hand. Banff is absolutely beautiful! Hope you visit Calgary again soon!

Originally posted by @Vincent A. :
Originally posted by @Brianne Hall:

Hello fellow Calgarian! What are you looking to invest in? 

Hi Brianne! Good to know there are also some fellow Calgarians here! My initial thought thought on investment due to my current situation was just a condo unit or townhouse, but looking on MLS and the strata fees I find are just ridiculous sometime and I feel like these could eat up costs as well as defer any potential future buyers.

What do you think?

I think you're smart to stay away from all things condo. Our first flip was a townhouse in Ranchlands. While we profited (being our accidental flip) in hindsight we got out at the perfect time as new management was coming in just as we were leaving, and it wasn't a change for the better. We bought it for $230,500, condo fees at the time were about $300/m, and interest rate was 3.09%. Our next house the following year was purchased for $333,000, no condo fees, interest rate 2.15%, and when I worked out the math, we were only paying about $150/m more everything included for a house that we bought that was over 100k more in price (the lower interest rate is a factor too). So if you can, go for a house in a neighbourhood that may not be your top pick, or a semi-detached/half duplex. Feel free to PM me for more info. Are you looking to do flips, rentals, something else? 

@Michael Plante Oooh that was not a good week to be here, we have not had very pleasant weather the last 2 weeks. However we do get chinooks which are a God-send in the middle of winter. One January a couple years ago after a cold stretch it got up to +19C and I was walking the dog in a T shirt! Makes a heck of a mess but it gives you a few days of reprieve from the winter weather. 

Yes, unfortunately I don't know of any Canadian markets that are able to do as well as some of those midwest markets. One downfall is we also just don't have the population in the smaller cities like the US does, and we have more limited markets to choose from. 

Hi @Vincent A. , another Calgarian here! I'm new to RE investing as well, but mid-way through my first foray into it all with a house-hack of my personal home, conversion to include a legal basement suite. Plan is to finish this project, refinance out and invest in the next one and get into MFH's. I agree to stay out of the condos if you can, but whatever you choose, starting is the most important thing for sure. :)

@Vincent A.  Welcome to BP! We moved from Calgary to Texas about 1.5 years ago. Miss the mountains and being able to snowboard (but not the weather!). Are you looking just in Calgary or within the US? 

We're (all Canadians) are launching a platform to introduce our Canadian network to US-based MF opportunities. It gets a little complicated when dealing with non-US citizens but given our own experiences, we're helping our network get access to the right sponsors, develop the right banking relationships, right CPA (cross-border investment structuring) - both in Canada and US. 

Honestly, the amount of opportunities available in the US are unreal. Calgary should be becoming more stable as oil prices go above $55. Hope you're keeping warm!

@Brianne H. and @Chris Dittrick Nice to see other Calgarians on the forums. 

Hello @Omar Khan ! At the moment I'm currently only looking into Calgary. But my common-law/girlfriend is an American citizen and actually originally from Seattle. So it's definitely a possibility in the near future for us. I'm sure everyone here in Alberta is just waiting on the oil prices to rise. Which is why I'm trying to get my foot in the door right now before it starts climbing.

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