All Forum Posts by: Anthony Therrien-Bernard

@Noel Devere-Bennett His condo would be cash flow negative. A real net cash flow of $100 a month on his condo would indeed be pretty reasonable. But with these numbers it won't be .

@Scott Isbister @Tony Canevaro

Like Scott I do recommend the collaborate real estate meetups as well.

@Alexander Zabiuk

Renting condos in Calgary can indeed prove difficult. Once you factor in your vacancy as well, maintenance etc you might even find yourself cash flow negative. However it doesn't mean it's a loss cause. I would consider other options as well such as short term rental (ie. Airbnb), Rent to own or simply sell it and use the money to buy a better performing rental property. I actually faced a similar dilemma with my personal property what I recommend is make the calculation over the next few years how how much each options is likely to generate and compare them side by side, it really helps to make an educated decision. Good luck!

@Joel Arndt

Unfortunately I have none of those features and bad layout for senior (thanks for the suggestions though)

Do you find airdna has reliable numbers? I have been looking at getting numbers

@Huong Luu

By 50% success rate for RTO do you mean that 50% don't end up in a sale? I'm not concerned about the sale not happening as long as cash flow is good I don't mind repeating the RTO process a few times for eventually have it work.

Happy holidays everyone. My partner and I are currently shopping for a new home to move into and I am looking at what to do with the house we currently live in, I don't think long term hold make sense for this property so it's between selling it and short/medium term rental. The house is located in Calgary, AB in Legacy. Single attached garage roughly 1700sq. The house was purchased 6 years ago for $415 000 with 5% down. The options I am currently considering are:

- Tenant renting:

The house would not cashflow, rents aren't high enough to cover all expenses as a 1 unit rental and basement suite doesn't seem to be a viable option due to the cost of separate entrance and layout of the house.

- Short term rental:

Listing the house on Airbnb and other short term rentals sites or executive rental. This could provide enough cash flow go cover all expenses and hopefully be cash flow positive, it would also provide me exposure to short term rentals. I'm not sure the location would be ideal, it's closed to spruce Meadows in the summer but that's about it and limited transit.

- Rent to own:

This currently seems to be my best option so far, it seems like it would allow me enough income to be cash flow positive while selling the house with less fees? (Aka realtor). This would also give me exposure with something I have been wanting to learn more about.

- Selling it:

I would likely get around $420-430 000 minus fees (realtor, lawyer etc). Any left over equity would go toward acquiring another rental property.

What are your thoughts?

Hi Huong,

What format are you thinking about? I like the idea but I have a hard time to picture what this would look like.

Seems like the world elite MC from Rogers mentioned by George is quite a good one and no annual fee, I'm considering switching to that one 

Scotiabank Visa Infinite has a I think 1% cash back on everything, 2% on gas and 4% on recurring bills and groceries which is pretty good. If you travel the west jet card seems like the best option but they denied me due to debt to income ratio

I'm in Calgary but I am also thinking that Calgary is about to start recovery (but I expect somewhat of a slow pace). I'm looking at expanding my portfolio down there, and may look at Edmonton as well