Hello friends, I want to continue my previous post about finding foreclosures in Calgary. Joan and I have become very interested in Calgary foreclosures over the past 2 to 3 years. We’ve been investing in Calgary real estate for over 10 years with a lot of success, at least in the first 5 or so years. I’m sure you know what I mean.
But a couple of years ago I started noticing that houses seemed quite expensive and I was becoming more unsure of the ability of real estate prices to continue to go up. Especially in the Calgary real estate market. I remember back when I was starting to invest in Calgary properties that $150k could get you a very nice family home in a good neighborhood. That was about 10 years ago. Today, that same house is probably selling for $300k.
Now I don’t know about you, but my salary hasn’t doubled in these past 10 years. So what happened, is that I bought a couple of houses a little too late in the game and I’m underwater in one of them by ten or so grand and the other one I decided to let go for about a $10,000 loss. Not too bad, but still it stung.
I (well actually Joan and I) started to get a little nervous about continuing to invest in real estate. What had been working before when we were buying Calgary houses was not working anymore. But then about 2 to 3 years ago a friend of ours started talking about a Calgary foreclosure home. At what in hindsight was the peak of the real estate market, he bought and then sold a house making almost $30,000 profit in a matter of just over 2 months. We were intrigued.
Since then, we’ve bought 3 homes with the help of this Calgary foreclosures course and we’ve made over $50k selling 2 of them. We sold the one in just under 2 months and the other one we sold in just over 2 months. These homes were in Tuscany and Silver Springs. We’re very partial to the North West.
The third Calgary foreclosure home we’ve held onto and it is paying for itself with great tenants. So if you’ve been struggling lately in your Calgary real estate investing, please consider Calgary foreclosures. This is an area of real estate that is seeing a steady increase. Plus, you can do it in a win win situation.