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All Forum Posts by: Cole Felske

Cole Felske has started 3 posts and replied 13 times.

Post: Full Duplex in Calgary, AB

Cole FelskePosted
  • Calgary, Alberta
  • Posts 14
  • Votes 4

Looking forward to seeing this finish up Anthony, keep us posted

Post: Looking for Meetup Co-Host in Calgary Alberta

Cole FelskePosted
  • Calgary, Alberta
  • Posts 14
  • Votes 4

Sounds cool Warren. I'd be interested. Feel free to send over the info.

Currently I just have 2 properties but of course looking to take on more. I also work in the commercial real estate field for a Calgary based developer. 

Post: Should I build small, 2nd home on my property?

Cole FelskePosted
  • Calgary, Alberta
  • Posts 14
  • Votes 4

I'd say they are still quite a ways out from being a feasible investment in Calgary at least. I don't believe banks like lending on these just yet since they are so uncommon. Also there are some development hurdles at the city that still need to be sorted out, i.e you can have either a basement suite or a garden suite, but not both.

Andy Tran from Suite Additions does a good job researching it in Southern Ontario --> https://www.suiteadditions.com...

I know Edmonton and Ontario are farther ahead than us with this, so it's only a matter of time before Calgary follows suit. But for right now I'd say it's a good idea to purchase properties with the potential for garden suites, and then in 5-10 years once policies change seriously consider building one.
 

Post: Young and Looking to get into Real estate investing Edmonton

Cole FelskePosted
  • Calgary, Alberta
  • Posts 14
  • Votes 4
Originally posted by @Stevo Sun:

I'm in Calgary, love to connect with you guys. I want to get a group together for Canadian investors to communicate and share knowledge. Started a subreddit the other day, let me know if you guys are interested in joining. Nothing in there yet, but I'm hoping to get it started.

Hey Stevo, send me a link to the subreddit. I'd be interested.

Post: My first BRRRRR project

Cole FelskePosted
  • Calgary, Alberta
  • Posts 14
  • Votes 4

Awesome post, well done. Thanks for sharing.

Originally posted by @Bob Okenwa:

Put the clause in the new lease and let them know that there will be no smoking allowed on the property in any capacity. If they're ok with it, good. If not, be prepared for turnover. When advertising the unit in the event they leave, be very clear to state the no smoking policy.

No need to message them stating they are partaking in activities that are perfectly legal and not in violation of the current lease. Add an addendum to the lease, tell them this is the new lease and there is a no-smoking provision. No need to act like a parent and try to micromanage and control other adults.

Thanks, that's good advice.

Thanks, that's good advice. 

To give some background, I have two tenants (a young couple) renting out a main floor suite from us while I live in the basement suite. So far they've been respectful, pay their rent on time, etc. although since I'm living in the basement they are likely inclined to behave better since I'm always around. 

On their application they both said they're non-smoking, however I recently found a few pieces of evidence that one of the tenants has been smoking outside. I've seen him in his car smoking, found a pack a cigars on a patio chair, and a lighter. I haven't been able to smell it inside yet. 

Their lease does not allow smoking inside (I'll add a clause about smoking outside next time), so technically they aren't in breach of the lease, although I get an uneasy feeling knowing he is a smoker and the fact he lied on his application. 

I also plan on moving out in 6 months so won't be around as much to keep watch on them. I feel the right course is to message them about it, and reiterate that I do not allow smoking inside, and the possible repercussions that would come if they were to. Thoughts?
 

Post: Where to find rental demographics/stats in Calgary?

Cole FelskePosted
  • Calgary, Alberta
  • Posts 14
  • Votes 4

Hi Charlene - funny you ask this, myself and my partner just did this exact same thing in Calgary a few months ago. It's a great idea for the first property. We are currently in the process of living in and legalizing a basement suite in Canyon Meadows. We rented out the main floor suite almost immediately, and it completely covered the cost of the mortgage. Almost any neighborhood along Crowchild trail will work great for this strategy. 


PM me if you'd like more info!

Post: Asbestos remediation Calgary

Cole FelskePosted
  • Calgary, Alberta
  • Posts 14
  • Votes 4

Hi Ajay,

Reach out to Matrix Remediation --> https://www.matrixremediation....

They do good work.