I grew up and continue to live in the Calgary area.
I had the idea to invest in rental properties.
There is considerable growth of population and industry in Calgary. It seemed like a smart move. When I did the math, I knew the rents could cover the mortgages and I could build equity. Plus, once the properties were paid off, I’d start pulling in an income. I thought I was making a smart retirement plan. However, the rental business turned out to be very time-consuming, stressful and expensive. I’ve learned that renters complain a lot. They make constant demands for upgrades. Because they aren’t careful with essential systems, such as plumbing, electrical and HVAC, there are frequent malfunctions and costly repairs. I enrolled in maintenance plans only to have my tenants refuse to let the technicians inside to perform the services. Typically, when a tenant vacates the apartment, it’s in such terrible shape that I need to totally remodel. The one tenant left a rental house so damaged and filthy that I didn’t want to deal with it. I asked a local contractor for an estimate, and he came back with an astronomical price. I couldn’t rent or sell the house in its condition. At that point, I simply wanted to get rid of it. I decided my best option was to sell to a cash home buyer. The next step was finding a reputable cash home buyer who would be honest, fair and professional. I chose Leger Home Buyers because they are local, family-owned and have built a solid history of successful outcomes. Working with them was a positive experience. Every step of the process was handled quickly and smoothly.