Can I buy house in different provinces?

[patwal]

Hello experts I live in Vancouver and it’s very hard to buy even apartments here my mortgage approved around $400k and I was looking a apartment in this range with 2 bedroom and 2 bathroom but $400k is not enough for that.
So I was think why don’t I buy a house in Calgary and rent it out whole house
What do you think experts?

 

[pie_vancouver]

Of course you can, it's your money, are you okay being a landlord and deal with tenants?

 

[patwal]

Yeah why not if they pay on time

 

[pie_vancouver]

And if they don't pay in time, they requested repairs, etc.
Some people don't want to be a landlord, so they don't deal with these things,
but if you want to be one, go for it.

 

[canuck78]

Definitely not easy to be a landlord from a different city. First you will have to see if you can break even or make a profit renting the property. Calgary has quite a lot of rental stock available at the moment I think so the property may stand empty for a month or two or more. Also you will have to budget to pay a property management company and pay for any repairs, cleaning, etc

 

[VikasGondia]

Being a landlord is a full time activity, anything breaks, tenants will call you. Alternative is you hire a property manager and you would pay 5-10% of your rent + any expenses they quote you that might be needed for repairs, vacancy etc. Some things to think about, you can definitely buy in different province or country even depending of your capacity to deal with tax/ and management.