Real Estate Investment Strategies for Long-Term Wealth | Our journey to building passive income
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- เผยแพร่เมื่อ 9 ก.พ. 2025
- In discuss about our future plans with regards to real estate. Although we are somewhat on the fence whether we move forward as full time renters during our stay in Canada or looking to jump back into real estate owners. No matter our future route, we have decided to line ourselves into building passive income. The question is what best route to take in order to succeed in this journey. Please feel free to comment and share your success stories.
Just buy a place that's practical and is exactly what you need. People that rent tend to choose properties that fits their needs so why not do the same for owning a primary residence. This is why many renters believe renting is better than owning because they tend to lease the more affordable one or two bedroom apartments or basement suites instead of a gargantuan 2,500 sq ft house with four bedrooms, fully fitted basement and huge back yard. If you buy exactly what you need then the Residences in that bracket will be a lot more affordable.
For me I will buy,base on our experienced we sold our single detached fixer upper din so kumita kami. We said will wait baka bumaba ang market pero lalong tumaas so we ended up renting for 10 years nasayang sana kahit condo or small house we buy after we sold our house. Especially in Vancouver nowadays only 6 digits earning people can buy property. We are happy even townhouse we able to bought in 2022 price is 800k and my bidding war pa that time and dwnpymnt you need 20% and the price now is 900k .If you have property it’s investment na rin. In Alberta you have lots of choice still really affordable. That’s why lots of people from Vancouver moving to Alberta. Sorry ang haba ng comment ko. That’s the reality di na baba yan na talaga price ng houses bumaba man just a bit and or stable lang. So just buy kasi you owned a property before so you know. Iba pa rin ang homeowners and especially if you have child. Thanks for sharing I want to move in Calgary before as a Pharmacist but were established na here.
Thanks for sharing po. We believe that there are things that come in its proper time. But you are right. Sometimes we end up missing what seems like the perfect opportunity at that time. But in reality there are always numerous opportunities to be made in real estate. The prices might have skyrocketed over time but we are still able to find properties with similar price points from the past, the only difference is the houses available now come with smaller footprints. Or other option is further save for a larger downpayment to afford the larger properties.
How about outside Calgary or even sa Montreal? Or kahit second hand home
Its always a good idea to buy ur own place than renting. U will build ur equity again rather than paying someone else mortgage. Also i dont think property will go down with high demand of the housing market rtn.
Good point po.
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maganda parin po kumuha pero hula ko po (hula lang) dahil kokonti yung mga dadating ng canada soon, theres possibility na mag down ung prices ng house pero not so much po *(yung tipong unlike 1-2 years ago puro bidding) bka soon wala nang bidding wars and pwede maka negotiate ng konti, pero tama po kayo mahal na ng housing in canada or possible na same price pero ung interest po is bumaba unlike if now kayo kuha (just my guess po and mahirap din baka mali) hehe, hindi lang po kasi yung dami ng tao ung nag pataas po ng prices, pandemic din
@@waterzzura Good points po. Sa ngayon nag observe kami ng mga trends at kung ano talaga daloy ng pag execute ng mga politicians sa pag asikaso concerning immigration dto sa Canada.
Save and invest nalang kasi mahal na ang real estate, wait nalang magcrash ang market then doon na bibili
Hello po, we agree. Saving is key to being able to buy property abd other investments.
Rental income is not passive because of all the work involved - finding a steady stream of desirable tenants. Evicting tenants in Canada is far more difficult than in the Philippines because of the LTBs who adjudicate these issues. It’s not uncommon to take 1 year to remove deadbeat tenants.
Second the Calgary market is different from others in Canada because of its dependence on the oil industry. When there is a downturn in oil prices Calgary is the first to feel the pinch because it is heavily dependent on the oil industry. The most recent example is from around 10-15 years ago Calgary real estate fell while the rest of Canada rose. At that time developers were offering trips to Sun destinations as incentives to buyers that’s how difficult it was to sell.
The decision process for buying a home is a lot different from real estate investing.
I spend one to two weeks on my Rental investments per year. The rest of the work are done by agents and contractors. So I can easily say it's 95% passive income. Do you really think I would bring my tools on a Sunday to fix a leak? I call a plumber to do that. So don't feel sorry for Landlords like me.
And BTW I used to rent and I rarely saw my Landlord because the properties I rented were in good condition. The only time I saw them was when the lease was up for renewal.
@ am a landlord as well which is why I know it is not passive income like receiving pensions or dividends
@@Joeym1655That's because of the way you manage it. Delegate, it's much easier
Hi Joey, depending on how rentals are managed. In can definitely be more of a hassle then a passive income. But if you get a stable renters. Your worries would be more focused on possible arising maintenance of the property and collecting rent forward. If you make proper due diligence in sourcing possible tenants then property rentals might be something worth considering for some.
We strongly agree Calgary/Alberta’s industry strong relay on oil and gas hence the high fluctuations of real estate prices. That’s why we are sitting somewhat from a distance birds eye view as to where things are heading at the moment. Hopefully we can get something decent in the near future.
I agree, most of the time it all depends on how you manage your properties. It’s a question of finding the right and reliable resources to do the job correctly. And filtering the right tenants for your property. Although we’ll definitely need practice on doing proper screening for possible renters in the future hehehe.
I think it's better kuha kau ng house kahit hnd ganun kalaki but not calgary cguro kasi masyadong mahal na.
Kasi let's say 5-10yrs from now then mag changed yung mind nyo na imbis mag retire sa pinas maybe bakasyon2 ng matagal nlang
Good point po. Pero we are still seeing where the market is going at this point. Marami din po kasi mga balita tubkol sa politics that might affect what direction prices go.