All Forum Posts by: Tyler Dove

Hi Chase, I'd love to hear more about your airstream venture.

1. What did the $10,000 cover?
2. Why did you choose to exit rather than hold?
3. Have you tried an Airstream as an Airbnb?

@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! 

Hi @Owen Langis,

Thanks for your quick reply!

1. I will be continuing to work my current job remotely from Calgary.
2. About $50k
3. LTV = 77%

Hi all,

I'm currently living in Chilliwack, BC, just outside of Vancouver BC, Canada and I'm looking to move to Calgary AB within the next 3-6 months.

I currently own my own condo in a rental-friendly building.  The way I see it, I have two and a half options:

1. 1. Sell my condo in a hot market in Chilliwack in order to buy in Calgary.
2. 2. Rent out my condo in Chilliwack at a negative cash flow of -$200 to -$300 per month and then
   1. Rent in Calgary
   2. Try to figure out how to buy in Calgary as well

A few factors to consider:

1. 1. Calgary real estate appears to cost ~25%-35% less than Chilliwack real estate
2. 2. I'm looking to live in the city rather than the more affordable suburbs
3. 3. I don't currently have the financial resources on my own to seek traditional bank financing on a second property in Calgary - I would need a creative financing solution.

What would you suggest would be the best movie forward?

Thank you in advance,

Tyler