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Old 02-03-2022, 02:27 PM   #1195
Calgary Highlander
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Join Date: Oct 2008
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I bought a condo in 2018 as rental investment (I was living at home after graduating). The person who was supposed to purchase it didn't qualify for the mortgage (and lost their deposit), and the developer offered it at a reduced "quick-sale" price of 265k. I figured it's one block away from South Health Campus/YMCA/Library, so it would be a worthwhile investment. It's always been rented and I've been lucky to have good tenants, but man was that a mistake. I'm luckily breaking even with the rent (after deducting mortgage, property tax, condo fee, and insurance) but I would have been better off investing in literally anything else.

I haven't tried putting it up on the market so not sure how big a loss it would sell for, but at this point I figure I may as well just keep it.

Just another "don't buy a condo" post haha.
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