What is the Best Investment Property? | Condo vs Townhouse vs Detached - Real Estate Investing Tips

IMPORTANT! Are you from Ontario and thinking about investing in the Calgary Real Estate Boom?! Felix and Jaz will be in Markham, ON on Aug 22, 2024 for an in person workshop! Register for this free event now before it fills up! liveinnercityr...
Real estate is one of the best investment you can make today.
If you’re new in the real estate investing market, there are a lot of considerations that must be weighed in before you start your first investment.
One of these is determining which type of residential property you should buy - condo, townhome or a single-detached one. Having the right type of investment property will provide consistent cashflow and are great potentials for future appreciation.
Buying an investment property is different than buying as a first-time homebuyer or an empty nester looking to downsize.
An investment property is a real estate purchased with the intention of generating an income or a return on the investment through rental income or appreciation. There are many types of properties that an investor can buy. The three that will be tackled today are Condos, Townhomes, and Detached homes.
Choosing the right property that is more likely to increase in value is the most important decision you will make so buying the right property at the right price is absolutely critical.
Remember, whatever you choose, the property you will buy will be considered a long-term investment so you should definitely not rely on property prices to rise straight away.
In this video, Felix Chan, a real estate investment investor from Calgary, Alberta provides timely real estate investing tips. As experienced realtors, he is here to keep you in the know that investing in real estate in Calgary is something you should definitely consider.
Are you ready to take advantage of the market and invest in real estate? If so, contact us so we can help you research properties in your area.
This is LiveInnerCity’s - What is the Best Investment Property? | Condo vs Townhouse vs Detached - Real Estate Investing Tips
Chapters:
00:00 - What TYPE of property should you buy?
00:30 - The most important principle of generating wealth in real estate
1:45 - Don't make THIS mistake
2:39 - Questions to CONSIDER
3:20 - The BEST THING about Condos
4:12 - The truth about condos
5:05 - All about Townhome investing
5:51 - Are detached homes the BEST?
6:15 - How to have multiple streams of income
6:43 - Other possibilities with a detached investment property
7:43 - Why detached homes may not be for you
8:52 - Which property is the BEST
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Felix Chan & Jasben Lai are Calgary Realtors with the LiveInnerCity Real Estate Team in Alberta, Canada. Felix is also a Calgary Mortgage Broker and Real Estate Investor.
As your Calgary Real Estate Agents of choice, we are your one-stop-shop for all your Calgary Real Estate needs. We provide our best tips and tricks for home buyers, sellers, and investors looking in the Calgary Real Estate Market. We also dive into Calgary Communities and Home & Condo Tours.
If you want us to cover a specific real estate or mortgage topic or just have a question, please type it in the video comments below.
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[@LiveInnerCity]

*IMPORTANT!* Are you from Ontario and thinking about investing in the Calgary Real Estate Boom?! Felix and Jaz will be in Markham, ON on Aug 22, 2024 for an in person workshop! Register for this free event now before it fills up! liveinnercityrealestate.com/training-page

[@canadianjatti]

I think you can cash flow positive on condo and townhome much faster and easier than single family home. They cost much less thus smaller mortgages. I live in my townhome but in future it may be an investment property and will be positive cash flow right from the get go based on comparative market analysis.

[@LiveInnerCity]

Thanks for sharing and yes you do have some valid points! It is possible if you fully furnished the property which requires an additional $10,000-$15,000. Most investors would like a turnkey investment so managing the purchase, delivery, and set up isn't ideal for many. Also a fully furnished property attracts more short term renters than long-term so there's no right or wrong answer, it just depends on what type of investor you are and a time and effort you want to put into an investment ✌

[@zz5guy]

That's been my experience, too. The highest and best use of a house is usually just a house.

[@DHT2023]

You guys always summarize so well, and get straight to the points . 💯 one of the most legit real estate Channels for me .

[@LiveInnerCity]

David, you are a good man! It was great chatting with you, and we appreciate your support for our channel buddy! 👊

[@primeartifacts6467]

Detached homes also have “Condo Fee”, its called hydro, gas, heating, water, garbage collection, landscaping/ snow removal(even if you are doing it by yourself, still it takes man hours ). All these can add upto 700$ a month. Things breakdown in detached homes too, so yea special assessment also happens in homes. Homes do appreciate more than condos though 👍

[@LiveInnerCity]

Detached homes could have "condo fees" ONLY if it is a bareland condo. A bareland condo is a complex with either single family homes or townhomes and everyone pays condo fees (snow removal, landscaping, etc.) AND for their own utilities. Usually the water, gas, electricity, and sewage are considered Utilities in Alberta. There are not many of these detached bareland condo homes in Calgary

[@primeartifacts6467]

@@LiveInnerCity that’s not I meant. When you have a detached house anywhere, you are paying for your utilities, consider them as condo fee. You are shovelling snow or landscaping, consider them as your condo fee. There are always small and surprise maintenance coming in, consider them as special assessment. In a nutshell there is no escaping from spending 500-800$ a month whether you live in a condo or a detached house

[@HoangDuong-mi4ow]

In the last 1 year, both condos and townhouses have appreciated a lot in Calgary. I see lots of cash flow positive condos and townhouses, and cash flow negative detached houses. Would love to see more of your deeper analysis and how you get your stats.

[@LiveInnerCity]

Absolutely! It's awesome to see condos and townhouses in Calgary appreciating significantly, presenting cash flow positive opportunities. On the other hand, detached houses seem to have a different trend with cash flow negativity. We'd love to dive in this topic and record a video on it. But before we get started, I'd love to hear from you! What specific aspects or questions would you like us to cover in the video? Your input will help us tailor the content to your interests and provide valuable insights. Also, if you're not already subscribed to our KZbin channel, I encourage you to do so. By subscribing, you'll stay updated on our latest videos and won't miss out on any future content. See you around!

[@carolinecoxfilm]

my downtown luxury condo is cashflow positive as a monthly furnished rental. hey-o!

[@LiveInnerCity]

Atta girl Caroline GREAT JOB!!! You can typically get $300-$500 more in rent if a property is furnished. The tenant profile however will be slightly different than someone renting an unfurnished home. Furnished suites will typically attract shorter term tenants but finding someone for a year is not uncommon! 😆

[@davidkuitunen5286]

value can be added to a high-rise. people live downtown for the neighborhood. neighborhoods can change a lot in a decade.

[@LiveInnerCity]

Of course, it can be added to any property type in any location you choose. I'm of the opinion that adding value to a single family home will give you larger returns in the future vs a high rise 😉

[@hozanhusso641]

​@@LiveInnerCityi agree with you. For us in BC, town house are more likely to give you a higher return in appreciation than condos. Also townhouses and detached gives you more privacy especially if it to live in

[@toronto-properties]

Great information! Very good dept but concise. Would be great if you do a video on this same topic for 2024 in the early part of next year. I agree 100% detached is always better for appreciation and potential for maximizing rental yield as well. Also given the recent massive rise in Condo prices in Calgary, potential upside of Condos compared to freehold is less and less.

[@LiveInnerCity]

Glad you liked it! I'll definitely consider your suggestion, and if there's anything specific you'd like to see covered in the video, please feel free to share your thoughts. Thanks bud!

[@charnjitparmar4453]

good content for someone who wants to start real estate investment journey.

[@LiveInnerCity]

Glad you liked it bud! Thanks!

[@nikolahamovic266]

I really want to invest in detached homes, but can’t qualify for a big enough mortgage. I was thinking of starting with condos to build my income through rent to get there one day????

[@LiveInnerCity]

Hey @Nikola! Here is a video response buddy - vid.us/v52gha - [e-mail]

[@yadwinderberi8199]

I know you said Townhome is not something you would prefer, still what do think of new townhome in Evanston NW

[@LiveInnerCity]

Hey @Yadwinder! My thoughts on townhomes vid.us/vymva5

[@mianasim1243]

if I investment cash approximately 2lac 50 thousand, which option u recommend, to increase price and good rental value

[@LiveInnerCity]

Sorry how much?

[@mianasim1243]

@@LiveInnerCity means approximate 2 to 3 lac canadian dollar

[@mianasim1243]

Cash investment

[@LiveInnerCity]

Want to talk about the best real estate investment property for you? Contact us here: contact.liveinnercity.com/message

[@flagelus01]

Why did you said a mortgage financing required 20% down payment? isn't 5% the minimum (plus the insurance)?

[@DHT2023]

I think 5% if your the primary resident -but 20% as an investor for rental income purpose.

[@LiveInnerCity]

Hey @Thiago and @David - Big shout out to you David as you are 100% right! Here are some other thoughts boys! vid.us/egoacq

[@cherryhenderson2849]

i’m from bc island , i’m interested to buy property ..we have pre approve in bank but i don’t know what’s best area to invest in calgary area .. i like sw .. need your advice 😊 thanks ..

[@LiveInnerCity]

Hey @Cherry! Great question! vid.us/ilrkx4

[@herculesjr2622]

I want the link :)

[@LiveInnerCity]

Its all yours @Hercules! Feel free to share it with anyone you know! 😆gr3f.co/c/42966/Mrgw6

[@davrocket5304]

we should stop considering properties, houses like a tool of investment because a lot of people will end up in the street. A house is a home and it is fundamental NOT TO INVEST. Humans are the only spicies that pay to live.

[@LiveInnerCity]

@Dav .... but how else can you generate wealth where the buying power has been declining since the 1940's & 1950's? Real estate is popular because it is something you can touch and see, and it doesn't have the volatility of equities or crypto! lol it does suck in that it reduces the ability for some to acquire property for themselves but this is life!

[@davrocket5304]

@@LiveInnerCity Growing wealth! That's precisely the culprit of the housing crisis. Anything that grows needs to eventually die but what makes you think the housing market is immortal and perpetual? Based on your idea, the future generations will pay 10 million for 1 bedroom condo. Humans are so perverted that they need to capitalize on everything. I am not an anarchist. I am being realistic. Realtors are like leechers they just hope the market will go higher and higher so they can make a profit by selling. Realtors are not necessary for the well-being of society. One day all this housing circus will be like the Dutch tulip bubble.

[@vigo3687]

Could you please send me “the link”… I think if we were to chat you could really teach me a few things and change me & my family’s life

[@LiveInnerCity]

Hi Vigo, please contact us at [e-mail]