Buying Your First Rental Property in Calgary

By Wayne Hillier, Real Estate Investing Masters

July 21, 2025 | Calgary, Alberta

Thinking about buying your first rental property in Calgary? Whether you're a local looking to invest close to home or an out-of-province investor exploring Alberta's growing markets, Calgary offers compelling opportunities for long-term wealth building.

But before you jump in, it's important to understand the market, the process, and what to expect as a first-time real estate investor.

Why Calgary?

Calgary is one of Canada's most investor-friendly cities thanks to strong population growth, a landlord-friendly tenancy system, and relatively affordable housing prices compared to larger cities like Vancouver or Toronto.

Calgary also benefits from:

• A diversified economy beyond just oil and gas

• No land transfer tax

• A strong rental demand in many neighborhoods

• High cash flow potential in the right areas

For new investors, this creates an ideal environment to get started with less risk and higher returns.

Step 1: Know Your Goals

Before choosing a property, get clear on your investing goals.

Are you looking for:

• Monthly cash flow?

• Long-term appreciation?

• A place to live with a rental suite?

• A stepping stone into more advanced strategies?

The type of property you choose should align with your financial goals and lifestyle. Calgary offers everything from suited bungalows to townhouses to multifamily properties, so define your ideal outcome first.

Step 2: Build Your Investing Team

One of the most common mistakes new investors make is working with professionals who don’t understand investment properties.

Your core team should include:

• An investor-focused realtor (preferably one with experience in Calgary)

• A mortgage broker who works with investors

• A knowledgeable property manager or coach

• An investor-savvy lawyer and accountant

These professionals will help you avoid expensive mistakes, like buying an illegal suite or underestimating your carrying costs.

Step 3: Run the Numbers Properly

Cash flow analysis is key. Many first-time investors get burned because they underestimate expenses or assume a best-case scenario.

Make sure you account for:

• Property taxes

• Insurance

• Vacancy

• Maintenance and repairs

• Property management (even if self-managed for now)

• Mortgage principal and interest

• Utilities if you’re covering them

You should also apply the 5% Rule™ – The Real Estate Cash Flow Test to ensure your investment is sustainable.

Step 4: Choose the Right Neighborhood

Not every part of Calgary will cash flow or attract good tenants. Do your research into:

• Vacancy rates

• Tenant profiles

• Transit and amenities

• School catchments

• Crime stats

Popular cash-flowing areas for first-time investors include certain parts of SE and NE Calgary, as well as suited bungalows in older established neighborhoods.

Step 5: Understand the Risks

Real estate investing is not passive. Expect to put in time and effort upfront and during ownership. Some common early challenges include:

• Unexpected repairs

• Difficult tenants

• Property management learning curves

The good news? These can be mitigated with systems, education, and support. Most successful investors started with a less-than-perfect property and learned as they went.

Summary

Buying your first rental property in Calgary can be a life-changing step toward financial freedom. If you take the time to prepare, surround yourself with the right people, and focus on buying the right property, not just any property, you’ll be on your way to building a profitable portfolio.

This isn’t about getting rich quick. It’s about building long-term wealth the smart way.

Need help getting started?

Our REI Masters Mentorship Program helps Canadians invest in Calgary and other Alberta markets with confidence. We’ll walk you through the numbers, strategies, and systems you need to succeed.

Visit www.reimasters.ca to learn more and book a discovery call.

Wayne Hillier - Alberta Real Estate Investing Expert

About the Author

Wayne Hillier is one of Canada’s trusted experts in real estate investing education, specializing in Alberta’s thriving markets. Based in Edmonton, Wayne has over a decade of experience building a high-performing rental portfolio and coaching investors to achieve strong cash flow, sustainable wealth, and creative financing success. As co-founder of Real Estate Investing Masters, Wayne is a respected real estate investing coach and mentor, dedicated to helping Canadian investors confidently scale their portfolios. He is also the host of The Real Estate Investing Morning Show, Canada’s #1 daily podcast.