I often get asked why I decided to invest in real estate in another province, and not in Calgary when I’m so familiar with our real estate market. People say “Isn’t the Calgary real estate market a great place to invest? Why didn’t you invest here?” So I figured I would give a little insight as to how I made this decision.

As some of you may know, I'm all about setting ambitious financial goals and seeking out opportunities to grow my wealth while also ensuring myself and my family get to enjoy the benefits of my work.

Let's dive into why I decided to take this unconventional route.

Flexibility & Fun

One of my top financial goals has always been to create a diversified investment portfolio that not only generates passive income but also provides us with amazing places to retreat and unwind. Investing in an Airbnb property outside of Calgary aligns perfectly with this objective. The idea of having a vacation property that we can use whenever it's not occupied by guests was too tempting to ignore.

By selecting a location that appeals to both tourists and our little family, we can have the best of both worlds - a fantastic investment opportunity and a go-to destination for our vacations. This way, we not only benefit from rental income but also get to create unforgettable memories with our loved ones in a beautiful setting.

Market Research & Opportunity

While Calgary's real estate market is booming, I couldn't overlook the immense potential in other provinces. Before making any investment decision, I performed extensive market research. I identified a location that exhibited strong tourism and a growing short-term rental demand, making it an ideal choice for an Airbnb investment.

By venturing beyond my familiar territory, I tapped into a market that presented excellent opportunities for property appreciation and steady rental income. Sometimes, stepping out of your comfort zone can lead to remarkable rewards, and this investment proved just that.

Risk Mitigation

Having properties in different locations gives us a sense of security. If one market experiences a temporary slowdown, the income from our Airbnb in another province can help balance things out. This way, we safeguard our financial well-being and build a resilient investment portfolio.

Ability to Control the Outcome

Many investments are risky. When you invest in the stock market, or some kind of venture capitalist opportunity, it’s hard to predict the results or the “return on investment.” Real estate is something that I know very well and I’m confident with. I was pretty sure that I could create a beautiful space, and a beautiful Airbnb listing that would attract guests to book stays at our property. This felt like something I had control over, and it helped me take the leap of faith to pursue this.

Making Memories and Building Wealth

Investing in an Airbnb property in another province was about more than just growing our wealth. It's about making the most of life and creating memories with family & friends. While the financial aspect was crucial, we couldn't ignore the excitement of exploring new destinations and experiencing different cultures.

We view our Airbnb not only as a rental property but also as a personal sanctuary, a home away from home. The joy of sharing it with others while we're not there and knowing that it's contributing to our financial prosperity is incredibly fulfilling.

Now, I'd love to hear from you. Have you considered diversifying your real estate portfolio? What are your thoughts on investing in vacation properties? If you’re wanting to bounce short term rental ideas off of someone, or want to hear more about my Airbnb experience or are looking for a realtor in another area - let’s chat & let me know how I can help. I have a wide network of realtor partners across the country who are super knowledgable and would love to help you achieve your goals!