Calgary Market Insight

[Zack Kahl]

Hey everyone,

Just curious on Calgary investors current outlook for the market. I have been browsing around and finding that some townhouses/condo/apartments are sitting under 200k. From what I can see these are getting pretty close to being good cash flow deals. Just curious of what the local insight has to hold on the current downturn situation and how it has affected current rentals and possible future endeavours.

Thanks,

Zack

[Owen Langis]

Hi everyone,

My experience owning a rental property in Calgary with a basement suite/ legal suite as a 2nd source of income has been great over the past 10+ years.

The property cashflows very nicely and I am able to offer reduced rents to my awesome tenants to keep them happy/ long term.

I find that a lot of the time investors are looking at single-family homes to purchase and rent out.

The challenge that I have seen with these properties is a lot of the time we cannot charge a high enough rent to create a positive cash flow, and if the only tenant does not pay the rent, we as landlords are left with few options, and this is where the problems start for us. All of our eggs are in one basket

I have had a few instances in the past where one tenant was late paying, but I was still receiving rent payments from the other unit to help cover the expenses.

Overall homes with basement suites are a hidden gem and not discussed enough in the investing community IMO.

I hope this helps.

Owen