- Joined
- Feb 18, 2008
- Messages
- 1,284
Hi Everyone,
After working with my parents and grandfather in property management for longer than I like to think about, I left Edmonton to follow my fiancee Megan to Kelowna where she`s attending UBC-O.
She`s only got one year left (08-09); her and a roommate were trying to get something figured out for next year to rent, but her roomie is only going to be there for the first semester. Most of us wouldn`t want to rent for only 4-months, so you can imagine Megan was starting to be a little stressed about the entire situation. It`s not rocket science to realize that buying is better than renting in the long run, but we`re getting married in May 2009, back in Edmonton, and we`re planning on moving to Ireland or the UK, and then back to Edmonton.
Can you still do better buying than renting, even if your time frame is a year? Yes!
Thanks to REIN and the systems, I sat down and started crunching numbers. I looked at the hard data, and not the emotion. I asked experienced people for their advice. I talked to Realtors, mortgage brokers, property managers and investors.
And several of the places we found should be close to cashflowing now, so if she does have to hold it after May 09 we can see positive cashflow. We`ve also found a likely equity building tenant if we decide to do that.
Anyways, my success is being able to help my fiancee and her mom (who is helping with a downpayment) look at the solutions to the problem without letting their emotions dictate their actions. I helped her find and get an accepted offer and we`re getting them ready to set up financing. Using the REIN resources made finding a place, writing an offer, and knowing what the future will hold made the entire process fun! (Megan`s words, I swear)
So thank you all! Megan`s now the owner of a nice 2 bedroom townhouse in Kelowna (Rutland). It`s been great to do all the things REIN teaches, but to give all the benefits to someone else!
After working with my parents and grandfather in property management for longer than I like to think about, I left Edmonton to follow my fiancee Megan to Kelowna where she`s attending UBC-O.
She`s only got one year left (08-09); her and a roommate were trying to get something figured out for next year to rent, but her roomie is only going to be there for the first semester. Most of us wouldn`t want to rent for only 4-months, so you can imagine Megan was starting to be a little stressed about the entire situation. It`s not rocket science to realize that buying is better than renting in the long run, but we`re getting married in May 2009, back in Edmonton, and we`re planning on moving to Ireland or the UK, and then back to Edmonton.
Can you still do better buying than renting, even if your time frame is a year? Yes!
Thanks to REIN and the systems, I sat down and started crunching numbers. I looked at the hard data, and not the emotion. I asked experienced people for their advice. I talked to Realtors, mortgage brokers, property managers and investors.
And several of the places we found should be close to cashflowing now, so if she does have to hold it after May 09 we can see positive cashflow. We`ve also found a likely equity building tenant if we decide to do that.
Anyways, my success is being able to help my fiancee and her mom (who is helping with a downpayment) look at the solutions to the problem without letting their emotions dictate their actions. I helped her find and get an accepted offer and we`re getting them ready to set up financing. Using the REIN resources made finding a place, writing an offer, and knowing what the future will hold made the entire process fun! (Megan`s words, I swear)
So thank you all! Megan`s now the owner of a nice 2 bedroom townhouse in Kelowna (Rutland). It`s been great to do all the things REIN teaches, but to give all the benefits to someone else!
