All Forum Posts by: Anthony Therrien-Bernard

Just looking for feedback to make sure I’m not missing anything - I will be house hacking my first place by living on the top 2 floors and renting out the basement suite, these calculations are for after one year I’ll be moving out and renting out the top 2 floors as well & repeating this process into a new home next year. I live in Alberta, Canada fyi. Thanks!

Purchase Price: $370k

Down Payment: $18.5k (5%)
Mortgage: $1960 ($980 BW)

Total Rent: $4350 (1700 bottom 2650 top)

Property Manager: $435 (10% rent)

Cap Ex / Vacancy: $435 (10% rent)

Property Tax: $180/m

Rent - Total Expenses = Cash flow 

$4350 - $3010 = $1340/m

Anything missing? 

Hi Anthony, 

That sounds great! Any day but Wednesday works for me, send me a few times and I'll get the coffee on. 

Hi Austin

It sounds like you’re doing great. 

We arrive in Calgary July / August and I’m gathering contacts, as much as I can here, before we arrive.

I’m a complete newbie here but up for a chat.

Cheers, 

Gareth 

I was wondering if I could ask for your help and insights. As a real estate professional, I'm looking to better understand the current process for showcasing a property online.

1. Can you describe your current process for showcasing a property online?
2. Have you faced any challenges or limitations with your current process?
3. How important is it for you to have a dedicated website for each property?

Your thoughts and experiences would be greatly appreciated! Thank you for taking the time to share your knowledge.

Quote from @Elijah ROberts:

Quote from @Stevo Sun:

I think it depends on your goals as well. At least in my experience, cash-flowing properties are typically in less desirable neighborhoods. If you are buying in an excellent neighborhood, you might struggle to find a cash-flowing property. It might just be you are trading some cash flow for better appreciation in the long run. 

 That's Exactly my Problem. I haven't looked outside BC or other provinces simply due to my schedule. I might have to look at other less desirables. Only concern is that even after getting 2 more, I'm afraid I might still have trouble getting the big banks do it for me.

I mean it's not necessarily 'wrong' to look for appreciation instead of cash flow. Just depends on what you are looking for. I'm trying to look for more appreciation now, knowing I will be sacrificing cash flow some what. But I wouldn't say no to a good cash flowing property. I just won't force myself to go to less desirable areas just to chase that cash flow. I find those areas tenant management is more challenging and time consuming at times. Which may or may not be worth it to you. 

Quote from @Stevo Sun:

I think it depends on your goals as well. At least in my experience, cash-flowing properties are typically in less desirable neighborhoods. If you are buying in an excellent neighborhood, you might struggle to find a cash-flowing property. It might just be you are trading some cash flow for better appreciation in the long run. 

 That's Exactly my Problem. I haven't looked outside BC or other provinces simply due to my schedule. I might have to look at other less desirables. Only concern is that even after getting 2 more, I'm afraid I might still have trouble getting the big banks do it for me.

Quote from @Anthony Therrien-Bernard:

Quote from @Elijah ROberts:

I looking at scaling up my portfolio holdings and wondering if anyone knows of a better strategy is this high interest environment. I have 3 rental units so far with tenants in them; I've looked at getting another condominium to make 4 units, but the bank would literally need me to put down about 40% as down payment to ensure its cashflow positive.  Any thoughts?

To me, it sounds like you are probably buying the wrong property. I know Vancouver is probably very hard to cashflow positive if that is where you are investing. There are other markets like Alberta for example where you can find cashflowing properties for example semi-detached or detached houses with basement suites, or 4plexes. We just closed on a property that cashflow positive and the lender had no problem with 80%LTV

Thanks for the insight! I haven't looked at  AB markets, I'm mostly on Vancouver Island for proximity. I don't think its the property, but the Market. I'll keep other markets in Mind!! 

I looking at scaling up my portfolio holdings and wondering if anyone knows of a better strategy is this high interest environment. I have 3 rental units so far with tenants in them; I've looked at getting another condominium to make 4 units, but the bank would literally need me to put down about 40% as down payment to ensure its cashflow positive.  Any thoughts?

I really like this analysis. It sounds very similar to our situation in Calgary where migration is excellent, inventory is abysmal and new growth sectors are emerging. Yet all the doom and gloom people read, particularly about other markets, is keeping our market stagnant for now. I agree with the sentiment for our market, that any decrease in interest rates could lead to a surge in appreciation.