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How to Buy Your First Rental Property in Calgary

Buying your first rental property in Calgary, like in any real estate market, requires careful planning, research, and a solid understanding of the local market conditions. Here's a step-by-step guide to help you get started:

1.     Evaluate Your Finances and Create a budget:

Assess your current financial situation to determine how much you can afford to invest. Consider factors such as your credit score, available savings for a down payment, and your ability to secure financing. Meet with a mortgage broker who specializes in real estate investment. Calgary Real Estate Wealth works with the best in the business.  Danielle Di Marco with Mortgage Architects not only helps you get a mortgage but develops a mortgage investment plan to set you up for future purchases. Establish a budget for your rental property purchase. This should include not only the purchase price but also other costs like closing costs, property taxes, insurance, maintenance, and property management fees.

2.     Research the Calgary Real Estate Market:

Study the local real estate market in Calgary to understand trends, property values, and the demand for rental properties in different neighborhoods. Look for areas with potential for growth and stable rental demand. Calgary Real Estate Wealth analyzes the Calgary market every day and knows the best neighborhoods to invest in.

3.     Set Property Criteria:

Define the type of rental property you're looking for, such as single-family homes, condos, or multi-unit buildings. Consider factors like property condition, age, and potential for renovations or improvements.

4.     Work with an investment focused Real Estate Agent:

Hire a local real estate agent with expertise in the Calgary market. Azad Chandler and Tim Desautels have been buying and selling investment properties in the Calgary area for over 20 years. They can help you find suitable properties, negotiate deals, and provide valuable insights.

5.     Make an Offer and do your Due Diligence:

Once you find a property that meets your criteria, make an offer to purchase it. Work with your real estate agent to negotiate the terms and price. During the conditional period of your purchase agreement, conduct due diligence, including reviewing all property documents, verifying rental income potential, and understanding local regulations regarding rental properties. Conduct a thorough property inspection to assess its condition and identify any potential issues that might require repairs or renovations.

6.     Property Management and Marketing Your Rental Property:

Decide whether you'll manage the property yourself or hire a property management company. A good property manager can handle tenant screening, rent collection, and maintenance, allowing you to be a more passive investor. Every Calgary Real Estate Wealth client gets FREE Landlord Training so they can keep their properties rented 100% of the time. Once you take ownership, market your property to potential tenants through advertising, online listings, and local channels.

7.     Manage Your Investment:

Keep a close eye on your investment, monitor expenses, maintain the property, and provide excellent tenant service to maximize your returns and ensure long-term success.


Remember that real estate investing involves risks, so it's essential to do your due diligence and seek professional advice when needed. Additionally, stay updated on local regulations and market conditions as they can change over time. Calgary Real Estate Wealth Guides you every step of the way to ensure success.

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I have sold a property at 5604 Buckthorn ROAD NW in Calgary

I have sold a property at 5604 Buckthorn ROAD NW in Calgary. See details here

Welcome to this stunning and meticulously maintained bungalow located on a unique corner lot in the desirable Thorncliffe neighborhood. This property boasts a spacious and beautifully landscaped yard, complete with mature trees and a charming west-facing front porch with stamped concrete pavers. As you step inside, you'll be greeted by light hardwood floors throughout the main floor, creating an inviting and airy atmosphere. The galley kitchen has been thoughtfully updated with rich oak millwork, countertops, and top-of-the-line stainless steel appliances, including a wine fridge, induction cooktop, and wall oven. The long and spacious living room il features large windows, allowing for plenty of natural light to illuminate the space. A slate stone accent wall adds a touch of elegance, and an electric fireplace creates a cozy ambiance. The dining room provides access to the sheltered back deck, which can also be converted back into a third bedroom if desired. There are also two good-sized bedrooms on the main floor, including a spacious master bedroom with dual closets and a door leading out to the hot tub deck. A well-appointed 4-piece bathroom completes the main floor layout. The basement is a blank canvas, brimming with untapped potential, offering ample space to customize and create additional living areas according to your needs. Outside, the backyard is a true oasis, featuring a massive rear deck with stamped concrete pavers, glass screens, and a shade pergola. It's the perfect spot to relax, entertain guests, or simply enjoy the tranquility of the surroundings. The property also includes a garden shed/shed, a side entrance between the house and the oversized double garage. The garage is attached to a 16-foot workshop room with front drive access which could be converted and made into a triple car garage. Behind the garage, you'll find a dedicated garden area, ideal for green thumbs. This turnkey home comes with several notable features and upgrades, including a 50-gallon hot water tank, 80% efficient furnace, a stylish feature wall, 8 wireless security cameras, upgraded insulation, a newer roof, and stucco exterior. Situated on a quiet street, this home offers convenient proximity to parks, pathways, various transit options, schools of all levels, and a wide range of shopping amenities. Furthermore, its prime location ensures easy access to downtown and major thoroughfares, making commuting a breeze. Don't miss the opportunity to own this exceptional property with its abundance of features and superb location. Contact us today to schedule a viewing and make this remarkable bungalow your new home--

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I have sold a property at 484 Midridge DRIVE SE in Calgary

I have sold a property at 484 Midridge DRIVE SE in Calgary. See details here

Welcome to 484 Midridge Drive SE. The perfect property for an investor or for a family looking for a great home with a mortgage helper. This updated immaculate property offers 3 bedrooms upstairs, plus one bedroom and den in the basement, and has 1.5 bathrooms upstairs plus a full bathroom in the basement. The main level has a great layout with a large kitchen, dining area, and living room, with spacious bedrooms and bathrooms. The house is very well maintained and has been updated in several areas. The house offers a separate entrance to the basement (illegal suite) from the kitchen area and the outside to provide extra privacy, as well as ease of access. In the basement, there is a fully updated kitchen and a large laundry area with lots of storage space. The basement also offers a bedroom, den, dining area, living room, and a full bathroom. There is also an additional storage space downstairs. The exterior of the property features a gorgeous front porch and huge deck in the back with two large sheds and 3 parking stalls. Other features include newer floors, appliances, windows, doors, and many more items that make this home a must-see. Call today to schedule your private showing.

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I have sold a property at 30 West Aarsby ROAD in Cochrane

I have sold a property at 30 West Aarsby ROAD in Cochrane. See details here

Great investment property here located at 30 West Aarsby Road in Cochrane Alberta. Long term Tenants in place up and down and would like to stay. Upper level features 3 bedrooms with the Primary bedroom having its own ensuite. Good size Living room space with a deck on the west side of the house to enjoy the sunsets. Dining room space and bright kitchen with newer appliances. The lower level has 2 more bedrooms, full white kitchen and family room with corner gas fireplace make this a cozy place to call home. 24 hrs notice needed for showings. New roof just installed. Separate laundry up and down. Property has been well maintained. Check out the virtual tour and call to view before its gone.

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Real estate investing in Calgary - How to get started

Investing in real estate in Calgary, or any market for that matter, requires careful planning and consideration. Calgary Real Estate Wealth is a one stop shop investors go to for expert advice and guidance. Here are six steps to help you get started with real estate investing in Calgary with a focus on building wealth:


1. Educate Yourself: Start by learning about the Calgary real estate market. Understand the local economy, job growth, population trends, and any upcoming developments or infrastructure projects. Consider taking real estate investment courses or reading books on the subject to build a strong foundation of knowledge. Calgary Real Estate Wealth has a FREE seminar every 2 weeks where we discuss different real estate investment strategies.


2. Set Clear Investment Goals: Determine your investment objectives. Are you looking for rental income, long-term capital appreciation, or a combination of both? Define your risk tolerance and the amount of capital you can allocate to real estate. Having clear goals will help you make informed decisions. 


3. Build a Strong Financial Foundation: Assess your current financial situation and ensure you have a solid financial foundation. This includes having an emergency fund, managing your debt, and establishing good credit. Real estate investments often require a significant upfront investment, so financial stability is crucial. Our real estate and mortgage team sets out a Real Estate Investment Plan for you so you know where you are financially, and where you want to be.


4. Location Research: Calgary is a diverse city with various neighborhoods and property types. Research different neighborhoods to understand their rental potential, property values, and growth prospects. Consider factors like proximity to amenities, schools, and transportation options. Calgary Real Estate Wealth researches the Calgary and area market every day. We know where and where not to buy.


5. Network and Partner: Connect with Azad Chandler and Tim Desautels, local real estate investment  professionals, we have relationships with real estate lawyers, accountants, mortgage brokers, property managers, and contractors. Networking can help you gain valuable insights into the market and potentially lead to investment opportunities. Partnering with experienced professionals can also make the investment process smoother. Calgary Real Estate Wealth has a network of over 5700 investors and we're growing.


6. Due Diligence and Property Selection: Conduct thorough due diligence before purchasing any property. Evaluate potential investments based on factors such as rental income potential, property condition, and market trends. We help you select the RIGHT property for your portfolio. We specialize in investment properties so you never make the wrong choice.


Real estate markets can fluctuate, so be prepared to adapt your strategy based on market conditions and economic factors. Building wealth through real estate in Calgary or any other market requires patience, resilience, and continuous learning. Calgary Real Estate is with you for every step of the process and our clients are achievng great success.

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New property listed in Midnapore, Calgary

I have listed a new property at 484 Midridge DRIVE SE in Calgary. See details here

Welcome to 484 Midridge Drive SE. The perfect property for an investor or for a family looking for a great home with a mortgage helper. This updated immaculate property offers 3 bedrooms upstairs, plus one bedroom and den in the basement, and has 1.5 bathrooms upstairs plus a full bathroom in the basement. The main level has a great layout with a large kitchen, dining area, and living room, with spacious bedrooms and bathrooms. The house is very well maintained and has been updated in several areas. The house offers a separate entrance to the basement (illegal suite) from the kitchen area and the outside to provide extra privacy, as well as ease of access. In the basement, there is a fully updated kitchen and a large laundry area with lots of storage space. The basement also offers a bedroom, den, dining area, living room, and a full bathroom. There is also an additional storage space downstairs. The exterior of the property features a gorgeous front porch and huge deck in the back with two large sheds and 3 parking stalls. Other features include newer floors, appliances, windows, doors, and many more items that make this home a must-see. Call today to schedule your private showing.

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