Last Updated on 2023-03-09 by Tom
I recently attended the Calgary ALC meetup hosted by Mackenzie, the founder, along with two other amazing landlords. ALC and Mackenzie have done incredible work in bringing together over 4,000 landlords into a tight-knit online community, and the meetup took this community to another level.
In the short two-hour meeting, followed by a discussion section that went on as per the request by the enthustastic attendences (and was held over some delicious OJ), we learned and shared so much awesome knowledge. This blog is a summary of what we discussed, for all the fellow landlords out there to use as a reference or for some inspiration.
Here are some of the key takeaways:
- Unique investment opportunities exist in some hot markets
Luis shared his experience with a type of side-by-side duplex in the Calgary area that can be rented out for a potentially handsome cash flow, as long as the renters don’t mind having the bedrooms located in the basement. Mackenzie added that there are many potential renters who would love this type of home structure. - Help your long-term tenants buy their first home…
Even better, from you, the landlord – It’s a perfect win-win for everyone. Giedre, a veteran landlord and realtor, shared her story of how she helped her great tenants buy their first dream home by gradually educating them about mortgages and financing through her vast expertise in real estate investing and market. - Protect yourself from scams
all self-managing landlords need to be aware of this. Mackenzie shared some in-depth strategies, such as how to deliberately put some specified information (e.g., phone number, brand, room details) onto the pictures to deter the scammers. - Be creative in adjusting the lease
To give you and the move-out tenants enough time to prepare for back-to-back move-in/out scenarios. Mackenzie shared some brilliant ideas, such as ending the lease a few days earlier and other details that can turn the previously hectic move-in and move-out process into a breeze.
In this digital world, meetups in person like this really help to build truly supportive human relationships among like-minded people, which in turn, makes us feel connected, rejuvenated, and clear about what is worth striving for.