Real Estate Investing is a numbers game. Can a property generate enough income to pay the expenses and a profit to the owner? With that in mind, Real Estate Investors need to start with Income Research.
Rentfaster is one of the better websites to search for average rent rates in Calgary. You can search by home style and communities to really narrow in on the type of property you are thinking about. You can also search by price to see what properties demand the highest rents and what properties collect the least amount of income.
Then you can search properties on MLS® by the numbers as well.
Here's a snapshot of a spreadsheet with Calgary Condos for sale showing the income required to break-even with 25% down. Mortgage at 3.5% Interest over 25 Years.
Of course your Break Even Monthly Cash Flow could be much different depending on your down payment and interest rate.
If you would like a list of current condos for sale using your numbers in my database - give me a call today.
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Jerry Charlton - Realtor®