6-bedroom homes in central Kelowna's Old Glenmore, renovated, furnished and filled with varsity athletes and summer workers. About $1,244/month cash flow on a $900K home, or $1,950 if you self-manage.
Get the full breakdownMost out-of-town rentals mean finding tenants, furnishing and fixing things from out of town. This one is set up and filled for you.
500+ varsity athletes need housing every year through my UBCO Athletics and Okanagan College Athletics partnerships. Coaches want teammates living together near campus.
I source the house, manage the renovation with your contractor, furnish every room and place the tenants. One $4,000 flat setup fee.
Athletes from September to April. Nurses, healthcare and construction crews from May to August, on 4-month tenancies.
| Managed for you | Self-managed | |
|---|---|---|
| Annual rent | $84,800 | $84,800 |
| Monthly cash flow | +$1,244 | +$1,950 |
| Cash-on-cash return | 5.8% | 9.0% |
| Return incl. mortgage paydown | 10.3% | 13.6% |
| Cash invested | $259K | $259K |
20% down at 4.5%, 30-year amortization. Cash invested covers the down payment, BC property transfer tax, a $40K renovation, $20K furniture package and closing. Managed = licensed property manager at 10% of rent. Projections, not guarantees.
6 rooms at $1,100 across a 3-bedroom main unit and a 3-bedroom legal suite, each on one group lease. Every tenancy follows the BC Residential Tenancy Act.
Within 2 km of my own two homes, in the most central part of Kelowna.
I've run this model in my own home since 2022, and in 2026 I built a second home on my lot because it works. I look for lots that can do the same. On my property the second home attaches to the original house, which saved on development charges and permits compared with a detached build. As an investor and partner in prefab builder Frame Living, I can help you do the same, or add a carriage house or duplex. More income from the same land.
The complete numbers on a $900K home, the rent calendar, and how buying through a corporation compares with buying personally. Bring your CPA into the conversation.
Then the room keeps paying $1,100 a month. Every lease follows BC tenancy law, so no one is forced out at the end of a term. Since 2022 my athlete tenants have gone home after their season.
At $6,000 a month in summer instead of $8,000, the $900K house still cash flows about $670 a month with a property manager. My summer season with nurses and construction crews was fully booked.
That's a question for your CPA. I'll build the numbers both ways so they have something to work with. Buying inside a corporation can take less pre-tax income than paying yourself a dividend first.
No. You can self-manage and keep more of the rent, or use our licensed property management partner at 10% of rent.