Investing in a multifamily property requires more forethought and planning compared to casual real estate browsing. The preparation involved consists of multiple variables a potential owner may consider in order to create an income stream. Limiting the risks of purchasing a multifamily listing demands research on recent statistics as well as the numerical data of the desired properties. This article outlines the variables that factor into a real estate investor’s decision including the basic property characteristics, the value of a property, and how to choose the timing of the investment. Whether starting out as a first-time or experienced investor, learn more how Calgary Multifamily can maximize your revenue through their property management services (click here). 

When searching for a desirable investment property, it is important to see what the building has to offer. These characteristics can include location as well as the total number of units. Gaining a building in a prime location is bound to increase the amount of potential tenants therefore increasing the return of investment (ROI). Choosing a particular location is also a defining feature in who the target tenant audience will be and can help you refine your marketing to those demographics. Another basic feature is the total number of units, as well as number of rooms in each unit, which influences the amount of revenue and risk. For beginner investors, they should focus on a duplex (2 units), triplex (3 units), or fourplex (four units). The reason for this is because these buildings have a lower risk compared to larger multifamily listings. In general, the basic characteristics of the property itself has an immense impact on the desirability of a building and should be reviewed in length before making an offer. 

When purchasing a multifamily property, it is crucial that buyers compare data points that reveal the true value of the property. These statistics include the estimated income and total expenses. Calculating the income a property can accrue is vital in determining the value of the investment and is necessary to conduct a cost-benefit analysis to establish whether the investment will pay off. To simplify this process, there are sites available that can verify the rental prices of buildings along with the estimated total income. Costs are another large numerical factor which can differ in each situation. For example, owners who are planning on living in one of the units may be eligible for owner-occupied financing options. Expenses are also impacted by one's credit score, debt to income ratio, and down payment as these are all components considered by lenders. To generalize, multifamily investors must have a whole and accurate prediction of the property value and must weigh the cost and benefits of their potential investment. 

Lastly, it is important that investors identify market trends. These trends can help an investor understand statistics in the past, as well as predict what may occur in the future. Accurate estimates provide investors the knowledge of whether to make an investment quickly or hold off. Relevant market trends divulge the actions of sellers, other buyers, and consumers (potential tenants). Examples include consumer spending habits, mortgage rates, unemployment rates, as well as average property sale prices. It is important to understand the actions of stakeholders, and future stakeholders, when investing a property. To summarize, accurately researching and predicting market trends can communicate to (future) property owners the best time to invest in multifamily buildings to maximize their revenue stream. 

There are many considerations that must be given thought and research when choosing which multifamily property to invest in such as the property’s features and value. Furthermore there are multiple trends that are necessary in deciding when to invest. All of these factors, when explored accurately, can limit the risks of a property and increase the revenue. As a multifamily investor there is much more preparation needed when considering a listing in comparison to purchasing a single family home. 

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Calgary has been ranked as one of the top three rated cities in the world to live in. This is evidenced by the international and interprovincial migration rate to Calgary, which has been on the rise for the last couple years. While the economic conditions of other Canadian provinces and territories have been declining, Calgary has been weathering the storm. The city’s success is attributed to pull factors such as its strong oil and gas market, as well as its large pool of skilled labour. Other contributing factors include its large investments into tech startups, inexpensive office spaces, affordability, and its high degree of accessibility. As the number of residents increases, the demand for commercial multifamily corresponds. The demand for this type of product has increased from the institutional to the amateur investor. 

Managing a property, especially a multifamily building, requires many duties to create and maintain a constant income stream. Calgary Multifamily is known for brokering multifamily real estate and they have just launched a management division, which provides all of the necessary services using their resources and connections to aid real estate investors in maximizing their revenue. The main components to achieving this are maintenance of the land and building, tenant vetting and placements, along with renewals and inspections. In working with Calgary Multifamily, property investors gain access to more professional management services. 

The most vital service they provide is managing the regular maintenance tasks as well as unexpected operational issues. This entails the routine, preventive, and remedial care of the building’s internal and external infrastructure at appropriate intervals. For example, janitorial services, maintaining parking and plumbing, as well as landscaping and snow removal. It also includes verifying that all property aspects abide by the associated laws and regulations such as Health and Safety and fire testing. Working with Calgary Multifamily is beneficial as they have existing suppliers and professionals they regularly work with. Allowing them access to better pricing, response times, and quality of service. 

Calgary Multifamily provides tenant vetting and placement services to find tenants who are a good fit for the property. These services can include employment, background, credit score, and/or eviction record checks. The purpose of placing the right tenant is to establish a more secure revenue stream. If done correctly, it would also produce fewer maintenance issues and a lower turnover rate. 

Lastly, tenant renewal notices are automatically handled and are done in a way that provides enough lead time to deal with upcoming vacancies. Renewals also allow owners to increase rent to ensure rates are being charged near market price, all to make certain the landlord is getting the most out of their investment. Quarterly inspections on units are also performed to ensure every tenant is treating the property properly, getting ahead of major issues before they occur. 

Calgary Multifamily is led by Kamil Lalji, Associate Broker, and licensed with CIR Realty. Kamil has had experience managing properties for over 20 years. To learn more about Calgary Multifamily’s property management division, check out their website linked here.

Exclusive. Refinement. Quality. These are all words that can be used to describe this restaurant. Nupo is a sushi restaurant located in the East Village that serves piece by piece as well as a la carte. It is known to be largely plant-based and also includes vegan options. This exclusive restaurant is reservation only, books quickly, and is full of secrets. If you’re looking for a reason to move to the East Village, Nupo is reason enough. If you go once you’ll be craving this high class affair and exquisite food. 

Nupo is owned by Darren MacLean, a chef in Canada’s Best 100 and a finalist on Netflix’s The Final Table. Their piece by piece service contains three seasonal dishes, a sashimi tasting, and one course of nigiri. All which is cut, formed, and prepared right before your seat. Each quality grade ingredient is sustainably and globally sourced. The meal is then complimented with butter-roasted miso soup, and wrapped up with a decadent dessert.

This restaurant is currently hosting their “Cultural Chef Exchange” in partnership with Food Tourism Strategies inviting chef’s from all around the world. The highly talented and influential chef’s that take part collaborate and inspire. In hopes to promote Canada’s, and more specifically, Alberta’s culinary background. This also provides the opportunity to learn about cultures and practices of other countries. 

Nupo holds a secret close to its heart and that secret is EIGHT. A discreet door within Nupo leads to an exclusive venue with only eight seats. This restaurant within a restaurant is reservation only and takes their customers on an interactive dining adventure. If you’re searching for high class, top tier exclusivity this is it. 

An elegant, yet select experience Nupo is one restaurant that cannot be passed up. The production of the food is of the highest quality from start to finish. It expands from simply serving food, as it adds a cultural and interactive twist. Once you get a taste you’ll want to keep coming back.

Winter is around the corner and now is the time to find your favourite winter activities. Today, we’re bringing you the Nordic Loop and Hygge Hut both located in Calgary’s East Village. Residents of this area get the best of both worlds as these two places perfectly compliment each other. One is the opportunity to get fresh air and physical activity outdoors, while the other creates a cozy environment to warm up from the cold. Unlike some attractions, these places are perfect to keep coming back to for more fun and to create new memories.

Starting with the Nordic Loop, this 1 kilometer cross country ski and snowshoeing loop is a fun activity to do with friends and family. Skis and snowshoes aren’t provided or available for rent so make sure to bring your own. The best news being it’s free of charge and maintained weekly. This loop is open daily from 7:00am to 10:00pm, however there are no lights so if it’s dark out bring a headlamp. There are three entrance points: the Fort Calgary parking lot, from 8th Avenue and 6th Street SE, and from the Elbow River Traverse bridge. This winter activity is the perfect place to get some exercise and embrace the beauty of winter. 

After spending some time out in the cold, the Hygge Hut is the perfect place to go to warm up. The Hygge Hut, pronounced “hoo-ga”, is a contemporary, Scandinavian-style space meant to be a cozy place to bring people together. Located in the C-Square at 4th Street SE and 7th Avenue SE, there are so many ways to get there. In 2022, the hut was open from November to March with limited days and hours, so check back for the 2023 season updates. With soft lighting, a warm drink, and a firepit, this hut has everything needed to warm up and relax. Merchandise for East Village is also for sale at this hut, including candles. The Hygge Hut also hosts events such as weekly ice carving demonstrations, games area, fireside storytime, and much more. 

The Nordic Loop and Hygge Hut are perfect for catching up with friends, going out with family, or spending some alone time. They give East Village residents something to do outside of their home and they’re great to come back to multiple times since you’ll never get tired of these fun activities. Lean into the winter ambience and check out the Nordic Loop and Hygge Hut while you can!

The District Energy Centre is an energy centre that increases efficiency, saves money, and saves power. Located in East Village, the residents are benefited as they have lower energy costs. This thermal network extends over 5,500 meters underground, providing centralized heating to all types of buildings (commercial, residential, and institutional). It accomplishes higher efficiency yet produces lower emissions in multiple ways. Firstly, in periods of low demand, the centre stores energy and discharges it at peaks. While at high demand it reduces power consumption to further save costs. Secondly, it also removes the need for on-site boiler systems, offsetting greenhouse gas emissions by 14,000 tonnes. Lastly, it combines the heat and power unit, increasing the efficiency by 10%. The advantages of the District Energy are endless, and East Village residents are directly benefited by having lower bills and fewer emissions in the air.

The Central Library is one of the most iconic landmarks of Downtown East Village. Located at 9th Avenue SE and 3rd Street SE, this building acts as both a cultural and physical space to connect people. Some may see it as a tourist attraction, however the Central Library has much to offer for locals as well. These include digital resources, free meeting rooms, and events to take part in. 

The digital resources part of the Central Library are all accessible via a library card. The digital library covers various subjects including film, STEM, reading, and learning. Kanopy and Kanopy Kids allows library card owners to stream over 30,000 documentaries, classic films, and learning videos. CodeCombat is a game that kids can teach kids Python or Javascript coding while allowing them to collect gems or defeat enemies. Libby is the platform that allows users to borrow digital books, audiobooks, and magazines. The final resource we’ll discuss is the Learning Express which provides practice tests and tutorials for everyone Grade 4 and upwards.

The library offers meeting and events rooms available and can be booked 30 days in advance. These rooms include the BMO Financial Group Community Rooms, the Patricia A. Whelan Performance Hall, and Rooms 0-13 and 0-14. The amount of seating ranges from 50 to over 300 seats perfect for functions such as performances or private functions. 

Lastly the library offers multiple events for a wide span of age groups. These events include the Holiday Spending Treadmill, a free financial class (November 9 from 6:30-7:30pm in Room 0-13). There’s another course called “How to Motivate Your Employees to Stay in the Face of the Great Resignation” on November 24 at 12:00-1:00pm in Room 0-13. A project-based mini hackathon is occurring November 26 from 10:00am to 4:30pm in the room with the yellow door on the third door. This hackathon happens every last Saturday of the month, and everyone is encouraged to come ready to code. A more recreational event called, “Let’s Colouring and Coffee” takes place on Christmas Eve at noon in Room 3-20A. The library hosts much more so check out their website to learn more. 

To conclude, the Central Library is more than just a flashy place for tourists. It is a great and valuable resource for residents of the Calgary East Village to use to learn, host events, and much much more. 

The Platform is a place of innovation and hope for East Village residents. It’s targeted towards entrepreneurs, investors, and corporate leaders. The Platform is a unique parkade called the Platform Park, and within it are many spaces and features that make up the Platform Innovation Centre. The Platform Park includes a bike park and outdoor sport court. While it’s a fun place to rest and get some physical activity all of the real excitement occurs in the Platform Innovation Centre. This centre offers all residents a platform to stoke innovative spirits and aid in connecting with others.

The Platform Innovation Centre is a singular point of access to a wide variety of resources, supports, and programming events. They have multiple ways to help start-ups launch and grow their businesses as well as room to test out prototypes. There are multiple classes, workshops, and seminars for professionals yearning to learn more. It can also be used as a location to search for funding and other opportunities such as networking. Become a member to take advantage of more resources, and if you’re a small business it’s free! If you’re a larger business memberships are $500 a year, but worth the opportunities to give back to your community

The building has many ways to connect a community as they host weekly programs and multiple events. Tech Talent Tuesday provides people with the chance to interact with a rapidly growing company. They can then network and learn about career opportunities in the tech industry. They are also hosting The Small Business Summit of 2022 from October 26-27, 2022 where these small companies can learn to take advantage of digital disruption. They also provide a space for individuals to sign up for peer-to-peer meetings. Here you can discuss topics of interest with like-minded individuals. The Platform Innovation Centre aso has a 10X Future Founders Scholarship providing Grade 12 students with the opportunity to continue pursuing tech and entrepreneurship. 

Overall, the Platform is a space to support and nurture entrepreneurs of all ages interested in developing their career in technology. It’s a place for those experienced to mentor and give back to the community, and a shelter for young minds to expand and push their limits. The Platform gives East Village residents the resources to strive for perfection and the hope that they can make a difference.

Take a short trek from the hustle bustle of East Village over to the new and improved St. Patrick’s Island Park to have a peaceful outdoor day. This area has many updated features making it the perfect day trip to get away from the city. The park also hosts many events, such as the First Responders Half Marathon, which are meant to bring a community together. With the public restrooms available and the redevelopments recently completed St Patrick’s Island Park is perfect for a first date, family time, or simply catching up with friends. 

The St. Patrick’s Island Park is hosting the First Responders Half marathon to raise money for first responders. Participants can run a half marathon, 10 kilometers (km), 5km, or 1km. This run will occur on The Rise on October 23, 2022 from 9:00am to 12:00pm. Take part while you can and support this great cause!

St. Patrick’s Island Park has also undergone redevelopment which was completed in 2015. Since then multiple attractions were inputted and there’s something for everyone! For pretty scenery, make your way to the vantage point at The Tip for views of the river and of downtown. The Seasonal Breach allows visitors to enter the water and includes a gravel bar. Enjoy The Rise at all times of the year as the 9m high hill is perfect for tobogganing during the winter. In all seasons, it is perfect for hosting gatherings, movies, and performances. Behind the Rise is a children’s play area, ensuring all age groups can have a good time. The Lowland Channel is a wetland with an elevated boardwalk, serving as a great biking and walking trail. Within this area is the Gallery Forest perfect for birdwatching as it’s a habitat for nesting eagles, owls, and songbirds. You can’t miss out on the 23 meter tall sculpture called Bloom, which represents a towering flower. Last but not least, the Lookout Plaza is a great place to hang out with its seating area, amphitheater, and water features. St. Patrick’s Island Park had a second renovation this time to ensure the river can be used for recreational uses. This was reopened in 2018 and has added the perfect final touch to this park of endless opportunities. 

Perfect for large celebrations to small gatherings to getting away and making time for yourself. Located just north of East Village, the short walk across the George C. King Bridge allows for a quick day trip and a breath of fresh air. St. Patrick’s Island Park has something for everyone and is a great place to enjoy the great outdoors.