All Forum Posts by: Nav Anand

@Brad Cote yes all on the main floor. Basement is unfinished. I’m in Leduc. Thanks!

Makes sense @Scott Jensen Thanks. 

@Shane Willis where I live in Alberta Canada with good credit the banks will give you the assumption of rent at 50% of the mortgage cost. So you only have to be able to show income to cover for that amount. Im assuming after a period of time being rented that amount goes up but I’d need to clarify that. Thanks!

We currently live in a 1250sqft 3bd 2 bath bungalow with basement and double garage.

It’s come time to upgrade and rather than sell which will cost quite a bit I’d like to rent it out.

Here’s my initial breakdown:

$1290 mortgage

$300 taxes

$50 insurance

$150 vacancy and maintenance

So to break even I’d need to charge $1800/month. Best I can tell is I should be able to get that in todays market. But is there anything I could do to raise the units appeal or even increase the rental rate to $1900/month?

Has anyone BRRRR' a home in Canada or Alberta? Can you give an example and explain how you did it?

@Samuel Sedore it's been a couple years but your comment was very helpful. Would you be able to send me a copy of the ROI spreadsheet you spoke of? Thanks