Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post

indes · 06-22-2019, 09:16 PM

I was wondering if anyone on here owns an apartment building? I'm looking to diversify my income and was looking for some insights and possible pitfalls.

Looking at prices I'm looking at buildings anywhere from 700k-1M. This has me anywhere from 6-12 units.

Since I'm new to the whole thing my search so far has prioritized buildings that have been recently renovated (within the last 10 years) and the neighborhoods they are in.

I'm not decided either way yet but I am leaning towards using a property management company if I do pursue this.

The general rate of return I've noticed on the properties I'm looking at seem to be in the neighborhood of 1% of the building cost per month (650,000$ building, 6 units, conservative gross income of 6000$/month)

My thoughts are that the condition of the building and the units are the biggest factor.

Does anyone have any experience in this area?

06-22-2019, 09:16 PM	#1
indes First Line Centre Join Date: Nov 2010 Location: Sherwood Park, AB Exp:	Owning an Apartment Building I was wondering if anyone on here owns an apartment building? I'm looking to diversify my income and was looking for some insights and possible pitfalls. Looking at prices I'm looking at buildings anywhere from 700k-1M. This has me anywhere from 6-12 units. Since I'm new to the whole thing my search so far has prioritized buildings that have been recently renovated (within the last 10 years) and the neighborhoods they are in. I'm not decided either way yet but I am leaning towards using a property management company if I do pursue this. The general rate of return I've noticed on the properties I'm looking at seem to be in the neighborhood of 1% of the building cost per month (650,000$ building, 6 units, conservative gross income of 6000$/month) My thoughts are that the condition of the building and the units are the biggest factor. Does anyone have any experience in this area?