Equity vs Cashflow

[Rushi Shah]

Hi everyone, my partner and I are renting right now and looking to start our landlord journey. We're based in Calgary, where there’s a lot of pre-construction happening, and we’re aiming to buy a pre-con property as our primary residence.

As a first-time homebuyer, I’m weighing two options: 

1. Small multi-family properties starting at over $1M, which is pretty expensive and, resale single family (before year 2000) offer minimal cash flow (~$200-300/month).
2. Pre-construction homes, which could build $50-60K in equity within a year or two.

I can afford a 20% down payment, but I’m torn between focusing on equity (pre-con) or cash flow (resale). My goal is to build my portfolio over time and secure a stable primary residence. 

For those of you who have been in a similar position, what do you think makes the most sense? Would love to hear your thoughts!