All Forum Posts by: Ram Srinivasan

@Jon Marois, I do think it will depend on whether or not you can qualify for a mortgage personally. If you can qualify personally, then you should buy it in your own name. Taxes are lower and less overall maintenance of books so to speak.

In Alberta, we get the added benefit of security in the event you default on your mortgage. A lender is not able to sue you for any deficiency judgement.

@Gaurav Dhir 

I think we have an upcoming Calgary Bigger Pockets coming (Thanks Ian) - if you are in town for this, you should definitely come!

Link to the event is below:

@Ian Ong

https://www.biggerpockets.com/forums/521/topics/52...

Thanks Kevin for organizing 

@Tyler Work. Thanks!

@Ian, majority of my deals have come through mortgage broker connections as they are typically first to know of the situation and when they can't can't find a conventional loan a potential deal may be had. I have also purchased deals of wholesalers...

Hi All,

This post is targeted at Canadians although open for all to comment.

Has anyone purchased a property and evaluated the investment as an exclusive Air B&B (or similar)?  Is this a viable, credible investment strategy that is profitable?

Is the management of such a property worth the potential reward?

What risks are associated with an Air B&B?

I am looking forward to hearing your experience with the strategy. I do feel that this is one type of strategy not commonly discussed so would love to hear your voice!

@Gaurav Dhir - Nice Choice! 

But truthfully a little biased being from Calgary myself.  I have been investing in this area for 5 years now and feel reasonably confident. Willing to help in any way I can.

I would recommend you read the  2018 Calgary Real Estate Economic outlook report - Its a GREAT starting point to help you understand the current economic landscape. It's available online from the City of Calgary. If you are unable to find it, send me a Private message, and I can send it to you.

Good luck and remember now that you have publicly announced your goal for 2018, its your mission to see it through!

Ram

@Ian Ong - The best deals in the Calgary market by FAR are Agreement for sale transactions, which does have a 'rent to own component'. I know we hear the word " win-win" is used a lot although in reality i argue its  not the case most of the time. How about a profitable, cash flow rich deal that stops foreclosure, helps lower the monthly payments and allow families to purchase the house back at the same price they sold it for .. and  best of all no "tenant" issues?

Those are the investments I make..... right here in Alberta and I am convinced its the best  strategy out there in current market conditions (i.e. low rents, low appreciation outlook, higher interest rates)

@Brianne H. 

I am following a similar strategy to yours although I am finding the Line of Credits interest rate to be very high - TD quoted me Prime +3.99. ATB Prime +2.5. Who ended up giving you the best rate?

Secondly the one caution I would say would be that the more available 'credit' you have, that could negatively impact your credit score AND potentially could be used as debt service. However worst case you can close 1 or 2 unsecured LOCs if need be.

Ram

I find Olympia Trust to be extremely good for this