Oakmoor Drive holds a special place in my heart. This was the first home I ever purchased! It’s a stunning, fully-furnished, well-appointed turn-key unit in Calgary, AB. Since the acquiring the property in 2012, I have now accumulated over $135,000 in equity.
Initially the rooms were rented unfurnished (which is typical in Canada). However, the move-in/move-out process was hard on the property, often leading to damaged walls, flooring and trim. Eventually, I made the decision to fully furnish the unit and experiment with furnished short-term / long-term renting.
Calgary, AB ??
Single Family Residence
This property was initially purchased as a buy and hold, but quickly became a house hack. House hacking is a real estate investing strategy through which investors earn rental income by renting out their primary residence. In this case, the property was my primary residence and I rented out the other 2 bedrooms from 2012 to 2019.
In 2017, I completely renovated the property from top to bottom with the intention of remaining in the home and raising a family. Wear and tear from renting over the years had accumulated, the old laminate flooring was slippery and unsafe, and the kitchen needed creative organization solutions that could accommodate a small family living in the home. It was my first complete home renovation, and we completed most of the work ourselves. However, the countertops and cabinets were custom built. Unnecessary for a rental, but at the time, that was not the plan!
After an amicable split, I pivoted my real estate strategy and began to rent the unit fully furnished with a minimum 1 year lease. The mortgage was extended and renewed at a lower interest rate to increase monthly cashflow. (Making the house an unintentional BRRRR.)
The unit is centrally located on the outskirts of downtown Calgary. Close to the Rockyview hospital, Glenmore Reservoir, dog parks, schools for all ages, shopping malls and a relatively quick exit out of the city (for the outdoor enthusiasts that like to escape on the weekends).
- Property Scouting
- Purchase of Property (+ Negotiation)
- Mortgage Qualification
- Full Renovation (w/ Project Management)
- Property Management
- Property Maintenance