All Forum Posts by: Vincent A.

One of the things he does is incentivizes one of his tenants by offering them a portion off of their rent to be the one responsible for cleaning common areas, washrooms, maintenance and reporting any issues.

That's technically not legal in Calgary to do this on Airbnb as you need 1 legal unit per listing unless you have a lodging house license.

He does have a lodging house license.

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I know someone that does this through Airbnb and his own leases in Calgary and he is quite profitable.

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After doing a quick search up on the town, the population of the town only grew from 1206 (2016) to 1216 (2021)

It's quite a small town, two of the highlights of Bassano is that it's situated right along Hwy 1 as well as the railway.

In my opinion, it'd be quite difficult to be a landlord and have a property manager to come out with positive cashflow. Not much going on in the town, as well as being quite far away and in the middle of Calgary and Medicine Hat, I can't see much growth happening.

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Calgary, Alberta

Hello fellow Albertans! (Calgary, Edmonton, Red Deer, Lethbridge, Grande Prairie, Fort McMurray etc..)

We had a great small-scale discussion at our last meetup a few weeks ago during our April meetup where we talked about short-term rentals & mid-term rentals. (STR's & MTR's) Traveling nurses and how they could potentially affect these markets in the US and possibly even Canada. One investor shared their house-hacking strategy story and another investor about their current renovation journey and staked their interest to look for investments down in the US!

The format will go as follows:

620pm. I will open the online room up.

630pm sharp, meeting commences.

5-10 minutes of introductions.

30-35 minute discussion of some topics/questions I will have prepared. These topics will be sent out along with the meeting info.

15 minutes of an open floor. (pending if discussion prior is a hot topic!)

725pm closing remarks.

730pm meeting end in respect to people's time and commitments.

WHO: ALL levels of real estate experience. Doesn't matter if you're new or well seasoned. In the field or out!

WHAT: An easy going networking event from those in and around Alberta.

WHERE: Online on Zoom! Meeting ID: TBA (Passcode will only be provided via email confirmation)

WHEN: Wednesday May 31st 2023.

TIME: 630pm-730pm MST.

I will limit the room to a certain number of guests so everyone may get a chance to share, speak and interact with one another.

If you are interested, please PM me with your email & location for the details and room passcode. I'll finalize the details prior to Sunday May 28th and send the meeting information out. Please RSVP once you receive the e-mail as I am able to prep the meeting schedule to cater to the amount of guests attending!

This will be an easy going networking event which means (Camera's on!) and I will make it a rule to have NO SOLICITATION during the call (even through PM's) If you feel like you connected with someone, you can do so after the event through Biggerpockets.

Let me know if you have any questions!

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Calgary, Alberta

Hello again fellow Albertans! (Calgary, Edmonton, Red Deer, Lethbridge, Grande Prairie, Fort McMurray etc..)

There are still available spots left on next week's online event!

Please be sure to message me about details!

This is also open to all Canadians from BC, Sask, Ontario to Newfoundland!

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Calgary, Alberta

@Suzanne Laird

I grew up in Vancouver/Lower Mainland and now have lived in Calgary for the past 7 years. This will all depend on your risk level/tolerance as well as future goals.

For me personally, I would not like to be in a negative cash flow off the bat and risk housing appreciation. Properties in Alberta (in Calgary specifically) I've noticed rents have gone significantly up so the cash flow can be there. My speculation, is that properties here will appreciate due to the fact that no one can invest in the west and are going to start moving East. (ie. Your situation)

1 Vote

Vancouver, British Columbia

Quote from @Stevo Sun:

Quote from @Jason Ridout:

Quote from @Theresa Harris:

Quote from @Soumojit Sarkar:

Quote from @Theresa Harris:

Quote from @Soumojit Sarkar:

Quote from @Stevo Sun:

I think cash flow in major cities in Canada is hard to find. They are out there but usually in the 'not the best' neighborhoods. Real estate in Canada vs. the US is wildly different. Finding something cash-flowing as soon as you buy would be challenging in the locations you mentioned. You need to look for something you can handle while paying the mortgage and waiting for rent to appreciate. So eventually, your mortgage payment will be lower, and the rents will be higher, then you can cash flow. Hopefully, at the same time, your property has also appreciated a bunch!

@Stevo Sun: But you cannot get rid of old tenants unless you move-in yourself or do significant renovations?

It depends where you are and how they are renting. In BC with annual leases, yes you can. You just don't renew their lease. Month to month are a bit harder, but still possible. Other areas, eg AB, you give appropriate notice if they are month to month.

AFAIK, all annual leases become month-to-month automatically after the lease duration in BC (at least in the Greater Vancouver area). Please correct me if I am wrong.

No they don't. You can keep renewing them as annual leases or if you want, you can change to a month to month. I keep leases because it is easier to end them at the end (if needed) than to end a month to month. Note that if the tenant doesn't want to renew the lease as a fixed term and wants to do month to month only, apparently you have to do month to month (or not renew the lease).

Unfortunately just because a lease is a fixed term (ie one year) doesn't mean you can terminate them at the end of the lease. You can say the lease ends on a specific date, but you need to give a legitimate reason to end the lease on that date such as you or a direct family member are moving into the unit.

So even if a lease has an expiry date, you can not evict for any reason other than the typical reasons (Personal use of the property or extensive renovations)

That's so different from AB that it boggles my mind. I think we have like three types of leases Fixed, Periodic, and Fixed to Periodic. Fixed term is basically the contract is fulfilled at end of the term, and each party needs to renegotiate a new term or move on. Periodic is your month-to-month, week-to-week, etc. The Fixed to Periodic is basically at the end of the fixed term, the lease kicks over to a periodic lease (which is usually month-to-month).

It sounds like in BC; you have a Fixed to Periodic situation by regulation with many rules on 'why' you can and cannot terminate. Seems like a lot of headaches and the risk of getting a bad tenant seems extremely high since you can't replace them at the end of the fixed term.

BC favours tenants while AB favours landlords in these situations.

Family members of mine in BC were renting a basement suite for 5 years when their landlord told them that their son was supposedly moving back in with them UNLESS they wanted to pay an extra 300.00 for rent. In BC, rent can only increase a certain % per year and the landlord could not legally raise it to match rising costs and rents around the neighbourhood. Lo and behold, 2 weeks after family members move out, the suite was up on facebook marketplace with increased rent.

Family members did not want to pursue legal action.

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Hello fellow Albertans! (Calgary, Edmonton, Red Deer, Lethbridge, Grande Prairie, Fort McMurray etc..)

We had a great turnout on our last meetup a few weeks ago! We talked about our own journey with real estate, rising/stabilizing mortgage rates, and the future of real estate with AI using ChatGPT! At the moment I plan on doing these meetups once a month so don't worry if you cannot make it as there will be more!

The format will go as follows:

620pm. I will open the online room up.

630pm sharp, meeting commences.

5-10 minutes of introductions.

30-35 minute discussion of some topics/questions I will have prepared. These topics will be sent out along with the meeting info.

15 minutes of an open floor. (pending if discussion prior is a hot topic!)

725pm closing remarks.

730pm meeting end in respect to people's time and commitments.

WHO: ALL levels of real estate experience. Doesn't matter if you're new or well seasoned. In the field or out!

WHAT: An easy going networking event from those in and around Alberta.

WHERE: Online on Zoom! Meeting ID: TBA (Passcode will only be provided via email confirmation)

WHEN: Tuesday April 25 2023.

TIME: 630pm-730pm MST.

I will limit the room to a certain number of guests so everyone may get a chance to share, speak and interact with one another.

If you are interested, please PM me with your email & location for the details and room passcode. I'll finalize the details prior to Sunday April 23 and send the meeting information out. Please RSVP once you receive the e-mail as I am able to prep the meeting schedule to cater to the amount of guests attending!

This will be an easy going networking event which means (Camera's on!) and I will make it a rule to have NO SOLICITATION during the call (even through PM's) If you feel like you connected with someone, you can do so after the event through Biggerpockets.

Let me know if you have any questions!

1 Vote

Calgary, Alberta

Quote from @Steven Kostner:

Hi everyone, I just wanted to introduce myself to the community. My name is Steven, I am located in Edmonton, Alberta. Currently, I have one STR through Airbnb which is doing fairly well and looking to purchase my first multi-family once I have found the right deal.

I am fairly new to real estate investing and would appreciate any help and tips that can help guide me to becoming a great investor. As well I am very active when it comes to networking whether it is online or in person so please don't hesitate to reach out to share some experiences or just for a chat.

Thank you, I look forward to getting to know everyone better as we work towards our real estate goals.

Hi Steven!

Welcome to Biggerpockets! I am actually hosting an online event for the Alberta community if you're interested! You can check out the event here https://www.biggerpockets.com/...

Shoot me a PM if you're interested!

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Hello fellow Albertans! (Calgary, Edmonton, Red Deer, Lethbridge, Grande Prairie, Fort McMurray etc..)

It's been quite a while since I've last held an online event. (over 2 years ago now - wow time flies!) and I'd like to start hosting these regularly again.

The format will go as follows:

620pm. I will open the online room up.

630pm sharp, meeting commences.

5-10 minutes of introductions.

30-35 minute discussion of some topics/questions I will have prepared. These topics will be sent out along with the meeting info.

15 minutes of an open floor. (pending if discussion prior is a hot topic!)

725pm closing remarks.

730pm meeting end in respect to people's time and commitments.

WHO: ALL levels of real estate experience. Doesn't matter if you're new or well seasoned. In the field or out!

WHAT: An easy going networking event from those in and around Alberta.

WHERE: Online on Zoom! Meeting ID: TBA (Passcode will only be provided via email confirmation)

WHEN: Tuesday March 28 2023.

TIME: 630pm-730pm MST.

I will limit the room to a certain number of guests so everyone may get a chance to share, speak and interact with one another.

If you are interested, please PM me with your email & location for the details and room passcode. I'll finalize the details prior to Sunday March 26 and send the meeting information out. Please RSVP once you receive the e-mail as I am able to prep the meeting schedule to cater to the amount of guests attending!

Let me know if you have any questions!

2 Votes

Calgary, Alberta

All Forum Posts by: Vincent A.

Vincent A. has started 9 posts and replied 61 times.

Post: Best and cost-effective ways to rent-by-the-room or rent basement legally in Canada

Post: Best and cost-effective ways to rent-by-the-room or rent basement legally in Canada

Post: No PM available

Post: May - BP Alberta, Canada Online Meetup

Post: April - BP Alberta, Canada Online Meetup

Post: Invest in Cashflow or Appreciating property?

Post: Is real estate investing for cash flow still possible in Canada?

Post: April - BP Alberta, Canada Online Meetup

Post: New to the bigger pockets community

Post: BP Alberta, Canada Online Meetup