Spot The Speculator #76 – “The 29-year-old started saving aggressively in her mid-teens and by 20, was able to purchase her first piece of property. From then through 26, she bought a new property each year while still living at home.”

“My parents would much rather me stay at home and save than to not have anything to show for the rent I was paying,” said Angela Calla, host of CKNW’s The Mortgage Show.
The 29-year-old started saving aggressively in her mid-teens and by 20, was able to purchase her first piece of property. From then through 26, she bought a new property each year while still living at home.
“It all starts with a plan and with educating yourself,” Calla said, adding her parents didn’t help her financially but allowed her to live rent-free.

‘Hopeful homeowners staying in the nest’, Stephanie Ip, 24hrs.ca, 22 Mar 2012

43 responses to “Spot The Speculator #76 – “The 29-year-old started saving aggressively in her mid-teens and by 20, was able to purchase her first piece of property. From then through 26, she bought a new property each year while still living at home.”

  1. 4SlicesofCheese

    So when I was 16 working at PNE selling cotton candy, did that make me a cotton candy expert?

  2. Good for her. I’m sure she’ll continue to learn a lot in the years to come.

  3. She milked the system and milked the fattest bubble we’ve ever seen, playing with immense gobs of fire the whole way. Very, VERY fortunate timing.

    • Agrees, and, when it blows up, people will forget; she will survive; thrive, most likely.
      Look at Abby Cohen, Henry Blodgett, etc. etc…. spectacularly wrong about tech bubble, spectacularly successful thereafter. People have no memories.
      Of course, this is much smaller scale, but, same picture….

      • I highly doubt Henry Blodgett and Abby Cohen leveraged themselves 20-1 to buy technology stocks… That’s the big difference between telling others to jump into the speculation and drinking the kool-aid yourself.

      • They were long stocks BUT they also had the safety net of massive annual pay-cheques (which have continued).
        Financial services sector harvests money, regardless of market conditions.

    • Fortunate timing, or intelligence?

      Is she encouraging others to do the exact same as did she? If so I’ll reserve judgment.

  4. Are her eyebrows painted on?

  5. Joe Mainlander

    She’s hot. I’d convert to bullism for her.

  6. no matter how hard you save, selling cotton candies won’t make you lot of money, certainly not enough to buy a property. Plus how many money can she work during those years while at school? There’s lots of what happened that she did not mention.
    Good for her, everyone makes money their own way, so while she might be successful, I don’t think others will be the same by copying her. There’s always that specific situation that got her there

    • 4SlicesofCheese

      I think you are missing my, apparently too subtle, point.

      I never questioned her success.

      I am questioning these people being labeled as a experts. They are sales people plain and simple. For her to be giving out financial advice is scary.

      How different is she from people like Tom Vu really.

  7. bubble headed bleach blonde comes on @ 5

    Put a fork in this bubble she is done.

  8. nobody you know

    “her parents didn’t help her financially but allowed her to live rent-free.”

    Free rent in Vancouver for all those years isn’t financially helpful?

  9. she makes everyone jealous, doesnt she? your mouths are watery just to have her RE porfolio.

    • I don’t think you’re following the gist of the conversation.

    • On a serious note, seeing that you mentioned ‘portfolio’, it’d be interesting to know her numbers.
      She apparently owns at least 7 properties.
      Total property value? Mortgages outstanding? Other assets? (and, thus, 1. Net-worth leverage to RE?, and 2. How big a price drop will it take to wipe her out?)

    • not if it’s leveraged, my friend. If it’s cash flow, I’d cook and do her laundry.

  10. nobody you know

    “My parents would much rather me stay at home and save than to not have anything to show for the rent I was paying,” said Angela Calla

    The “nothing to show for it” argument always gets me. When you pay rent you have the home you rent and the money you saved by not buying to show for it. That’s not nothing.

  11. Village Whisperer

    At what age do they shift to the blue eye shadow?

  12. I just google Angela Calla and found this:
    http://vancouver.24hrs.ca/News/local/2012/03/22/19537386.html

    Apparentally to get a property that requires $1100 mortgage payment per month you only require a job that pays $35,000 a year. OMG.

    • “Prospective young homeowners should also have a $10,000 down payment, a full-time job earning about $35,000 annually, and a good credit rating to take advantage of the housing market in these areas.”

      $10k down. $35k income. $250,000 mortgage?
      This mortgage would be a couple of credit tightenings/interest rate increase away from trouble.

  13. Understanding the price of everything and the value of nothing

  14. she’s winning at the casino – that’s all you can really say.

  15. Smart girl. She must have had financial advice from somebody to have learned how to do this. She must have had connections because in the early 2000’s, it wasn’t as easy to put down 5% down and qualify for CMHC as it has been in the last several years.

    • you could always buy CMHC insurance through the lender with less 20%. However, if her investments were intended to be rentals, she would normally have been required to put 25% down but it’s apparent that this was not case here. Yet, all the talking heads will tell you that Canadian banks are the safest in the world and people believe it.

  16. [ungentlemanly comment deleted. -ed]

  17. LandlordRescue.ca

    You know what the problem is with this bubble? It’s been going on so long we forget what’s it’s like to have real estate stay flat or go down in value.

    She looks like a genius now, but she’s frighteningly undiversified. Even her job depends on the real estate market going up and people buying.

    When this reverses I hope to hell her properties cash flow or she really will be taking advantage of the recent ruling on the legality of the sex trade because her mortgage agent courses won’t be worth the paper they’re written on. The more units you have the more difficult it is to subsidize rents. Plus she’ll be stuck in her parent’s house forever…unless of course Nem takes pity on her and moves her into his place. But she’d better not eat crackers in bed or else!

    • “will be taking advantage of the recent ruling on the legality of the sex trade”

      That’s quite mean, but you remind me of something else. How many rented condos are turned into whorehouses in VanCity? I’d say quite a bit.

  18. Somehow I remembered seeing her face before and here’s the link:

    http://www.greaterfool.ca/2011/06/28/the-expert/

    She’s just another house pumper. They can only succeed if more fools jump in. Once there are no more fools then look out below.

  19. Operating as a landlord of 7 rental properties, she has a full-time job as a mortgage broker. I would avoid Dominion Lending like a plague.
    The ex-colleague that I mentioned earlier was fired from his job eventually and his wife divorced him and kept half of his wealth plus the principal residence. 😛

  20. [ungentlemanly jack-ass comment deleted. -ed]

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