All Forum Posts by: Vincent A.

In all legalities for FTHBI, you would need to intend to live at this property. 

With record low borrowing costs right now, this would be a good idea want to get into the market in let's say a half duplex and rent out a basement for a house hack. I would be caution on the side of expecting appreciation in short term situations. 

Welcome Cole!

I'm based in Calgary and open to meet up, chat and network. Shoot me a PM if you're interested!

You seem to focus a lot on the "I'm not able to because.."

How about switching your mindset to "How can I overcome this obstacle.."

 May I suggest talking to a few more brokers who might be investment focused? It might talking to a few before finding the right one who can help you achieve your goal.

I suggest finding an investor friendly (as well as knowledgeable) mortgage broker who can really assess your situation and find multiple ways for you to make the deals happen. It might take some time talking with a few who you can really connect with.

Welcome Ola! I'm also in Calgary!

There are a lot of great people willing to help out. I suggest using the search function for any cities you might be interested in.

Is there a way for you to not be in negative cash flow if you do a rental?

To offset the negative cash flow and possibly save up, would you consider sacrificing your own personal space for a year or so and live with professional roommates?

I personally would like to keep the condo in Chilliwack and then also buy a property out in Calgary (not a condo though)

Hi Taylor,

I suggest looking into developing areas within the inner city. As well as houses that are near the LRT station, SAIT, UofC, Chinook mall.

There are a few duplexes and bungalow homes with illegal basement suites that can easily be converted to make them legal. 

Is this due to CMHC? Have you looked at Canadian Guaranty or Gen Worth for a mortgage?

I have a friend who just recently had a tenant move out in his condo unit across the Stampede Grounds. He was getting 2000.00 in rent for the past year and he's dropped down the price of rent multiple times down to 1300.00 where he was finally able to get viewings. 

Rental arbitrage could be an option to some unit owners. I feel like there will be a lot of condo unit owners who could be under some stress soon if not already. All just my personal speculation.

Stationary Engineer (as referred to in the U.S.) or Power Engineer here in Canada specializing in Grade A Commercial High Rise buildings in Calgary, Alberta, Canada