All Forum Posts by: Sheng Rao

Hi all, hope everyone is doing well.

I am a small multifamily landlord based in Toronto, Canada. Recently one of my tenants asked me if she can hire a contractor to renovate the washroom tiles as she wants to make it look nicer. She said the renovation will be done at no cost to me.

At first I thought oh why not, free renovation. But the more i think about it, the more problems i can think of. What if during the renovation the contractor damages something, and what if the tile work is not done properly and there are future problems (i.e. leaks, cracks). 

Has anyone on BP forum come across this before? What type of legal contract would you sign to protect yourself from potential liabilities?

Thanks!!

Stumbled upon this thread and see quite a few Alberta investors. I am originally from Calgary but is mainly investing in Toronto. With housing prices so crazy in Toronto, I am not so sure about buying another property there this year. I am thinking about investing in Calgary - especially in small multi-family buildings (7-15 units). 

Based on preliminary research, prices in Calgary have been on a steady decline over the last 5-6 years. Rental yield is better than Toronto for sure, seems to be around 5-6% cap rate on average. 

Wondering if there are other Calgary based multi-family investors? Would love to connect.

Hi BP community, I am looking to purchase a multifamily building in Calgary (12 units) and I am looking for a trustworthy commercial mortgage broker. Would anyone have any recommendations?

I have not done commercial mortgages before and would need someone that can guide me through the process.

Thanks!

Thanks for the info Chris, will definitely check out the CMHC report!

Hope everyone is staying safe! I am a big fan of BP and glad to see a strong presence of Canadian investors here. 

I am a rental property investor from Toronto. With price appreciation in GTA over the last few years, I am a bit hesitant to add another GTA property at this point in time. I started looking elsewhere and Calgary caught my attention for 1) prices appear less inflated, 2) relatively large population base, 3) more attractive Cap Rate, 4)  I grew up in Calgary and still have family there;

I would be interested to hear from all the Calgary investors on your experience/view, and a few questions below. Thanks!

1. What's the typical Cap Rate that you look for in SFH & Multiplex in Calgary?

2. What type of vacancy rate and maintenance rate do you budget for when assessing a rental property in Calgary?

3. Price appreciation seems quite stagnant over the last few years, how do you balance this in your investment decision?

Thanks all!

Hi all, hope everyone is staying safe. I stumbled upon this thread and it's very interesting!

I am a rental property investor from Toronto but I grew up in Calgary (still have a lot of family living in Calgary). With the crazy price appreciation in Toronto, I am a bit reluctant to invest further in GTA at this point. Calgary seems like a good market for cash flow and prices are not inflated like everywhere else in Canada.

For all the Calgary investors here, may I ask what's the average Cap Rate that multiplexes are trading at? Typically what type of vacancy rate / maintenance rate do you use in assessing a property in Calgary? Are there any brokers / agents that specialize in multiplexes (8+ units) that you can recommend?

Thanks!!