All Forum Posts by: Cole Felske

I'm curious if any Canadian investors used the First Time Home Buyers Incentive (FTHBI) plan for their first purchase. For those that don't know, in its simplest form the government contributes to your down payment for a shared equity in the property which must be paid back when you sell or after 25 years. Links below.

https://www.cmhc-schl.gc.ca/en...

https://www.placetocallhome.ca...

I am based out of Calgary Alberta, and honestly I don't see why this wouldn't be a good idea for a long term buy and hold investor. Admittedly I haven't done a complete rundown of the numbers, or made an extensive spreadsheet to analyze this yet. But I'm curious if getting into early ownership for the cashflow will outweigh the cost of having to pay the government back, and the opportunity cost of continuing to rent and saving up to achieve the 20% for a couple more years. 

Bear in mind you will have to pay mortgage insurance since you're technically contributing under 20%, and I'm not totally sure mortgage brokers will allow this on a rental property. 

Thoughts? 

Hello all! I'm new to REI, and I'm from Calgary, Alberta, Canada. I've been poking my nose around in books, BiggerPockets, and a couple other Canadian forums/webinars. I currently don't have enough for a down payment, but within 2-3 years time I should have enough saved up to drop 20% on a down payment. I recently received a call from someone trying to recruit me to REIN.

I'm wondering if the membership cost is worth it? It's ~$3,000/yr, which seems very expensive, but obviously it's hard to put an ROI or a price on knowledge and networking. The main upside would definitely be the networking, but perhaps there are other cheaper alternatives available in Calgary?

In addition the caller mentioned I could look for a JV where someone would lend me the money, and I put in all the time and effort. But considering that I have virtually no experience, I was highly skeptical that anyone would want to partner up with me. Thoughts?

Hi Stevie - I'm in a similar situation to yourself. Just wondering did you go ahead and try this?