@Owen Langis now that's where I'm most constrained: I'm sitting on very little in cash right now. I purchased my condo in Chilliwack in January of this year and I just finished up a small reno (removing a wall & installing new floors). Fortunately since I paid far less than market value the unit has appreciated in this time. Getting the capital to put a down payment would be possible but I would be looking at partnering (most likely with family) on the acquisition.
@Vincent A. I actually just re-calculated my cash flow on this unit and it looks like I'd be able to make it net neutral regarding cash flows, but that doesn't cover saving for vacancy or maintenance. Regarding Calgary, I'm low on the introversion scale so I'll be looking for a roomate regardless. Why do you say not a condo?
@Harrison Montgomery that's a good point, I didn't factor that into the calculation. I'm mostly looking at the monthly cash flow feasibility - i.e. can I actually afford it month to month. For that reason I'm not overly keen on including principal pay down in a cash flow calc. Awesome to connect with someone from YYC; I'll pm you as I'd love to pick your brain!
