I moved to Vancouver in 2016. In 2018,I was paying 1750$ for a 1 bedroom in downtown. It was a really old apartment and didn't even have a dishwasher. I wasn't paying for parking (which would be extra 150$) I moved to Edmonton in 2019, rented for a year and bought my first house during covid (3 bedroom townhouse 1000sq) after a year I used it as a rental property and it pays itself including the condo fees, insurance and taxes (1350$) 140k purchase price 1.74 mortgage rate. I bought my second home this Jan, it is a brand new 3 bd + den townhouse for 328k! I am renting a room to my sister in law and she basically pays half the mortgage. I literally pay 1k+135$ condo fees+100$ taxes and own 2 homes. Yeah the life is a bit boring here and the winters are painfully long, but don't have to work 6 days, up to 16 hour shifts in Vancouver just to survive.
There's no renters in Edmonton and even if you can find one they'll skip out on the rent on you. I owned about 52 properties in Edmonton and lost about 7 million dollars inflation adjusted.
@@parkerbohnn I made sure my unit looked modern and clean. I posted on Facebook Marketplace and got an overwhelming amount of inquires. I ended up doing an open house to pick the serious ones. I didn't have any issues with my current renter so far, it's been 8 months. Having 52 properties sounds like a nightmare tough. :D My goal is to have 2-3 townhouses 2-3 apartment units paid off before my retirement. My wife is 25 I am 29 we are just starting.
All these bakers and real estate agents of course they will say that buying a house is a great investment because that’s how they make there money if you dont buy a house you won’t buy insurance you won’t take out a huge mortgage. If you want to get into real estate know what type of real estate to buy. If you buy a multi-property like apartment rentals your tenants will be paying your mortgage through rents . This is what financial freedom looks like. When you buy a house you are paying the mortgage. The banks sold people a lie for years wealthy people did not become wealthy buy buying a house they have multiple streams of business. Paying them months after month . I have apartment rentals 59 units in total tenants pay my mortgage and I benefit from this in the long run . I just refinance my property every 3 years and buy a other business
Home ownership as a goal was something that has been over hyped. In Germany they have a secure renter culture with strong tenancy protections and affordability
I moved to Vancouver in 2016. In 2018,I was paying 1750$ for a 1 bedroom in downtown. It was a really old apartment and didn't even have a dishwasher. I wasn't paying for parking (which would be extra 150$)
I moved to Edmonton in 2019, rented for a year and bought my first house during covid (3 bedroom townhouse 1000sq) after a year I used it as a rental property and it pays itself including the condo fees, insurance and taxes (1350$) 140k purchase price 1.74 mortgage rate.
I bought my second home this Jan, it is a brand new 3 bd + den townhouse for 328k! I am renting a room to my sister in law and she basically pays half the mortgage. I literally pay 1k+135$ condo fees+100$ taxes and own 2 homes.
Yeah the life is a bit boring here and the winters are painfully long, but don't have to work 6 days, up to 16 hour shifts in Vancouver just to survive.
why the hell yall go to vancouver....there isn't enough job opportunities and
its deadly expensive, but you still go there??
@@mokakuma7329 I was an international student.
@@bt7348 then when you finished, you shouldve come back, why stayed ?
There's no renters in Edmonton and even if you can find one they'll skip out on the rent on you. I owned about 52 properties in Edmonton and lost about 7 million dollars inflation adjusted.
@@parkerbohnn I made sure my unit looked modern and clean. I posted on Facebook Marketplace and got an overwhelming amount of inquires. I ended up doing an open house to pick the serious ones. I didn't have any issues with my current renter so far, it's been 8 months. Having 52 properties sounds like a nightmare tough. :D My goal is to have 2-3 townhouses 2-3 apartment units paid off before my retirement. My wife is 25 I am 29 we are just starting.
Can we also say that with lesser demand can prevent house prices from skyrocketing?
I’d love to know your opinion on the FHSA?
Solid account that you can add to your investment strategy but not sure how much it helps Canadians buy homes!
All these bakers and real estate agents of course they will say that buying a house is a great investment because that’s how they make there money if you dont buy a house you won’t buy insurance you won’t take out a huge mortgage. If you want to get into real estate know what type of real estate to buy. If you buy a multi-property like apartment rentals your tenants will be paying your mortgage through rents . This is what financial freedom looks like. When you buy a house you are paying the mortgage. The banks sold people a lie for years wealthy people did not become wealthy buy buying a house they have multiple streams of business. Paying them months after month . I have apartment rentals 59 units in total tenants pay my mortgage and I benefit from this in the long run . I just refinance my property every 3 years and buy a other business
The Government doesn’t solve many problems, let alone the financial concerns of individuals
Home ownership as a goal was something that has been over hyped. In Germany they have a secure renter culture with strong tenancy protections and affordability
But people lucid dream about it 😅
Dude looks 38!
It's the receding HL, probably stressed out about buying aa home 😂
Gg