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vancityeast
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can u still get cash flow in bc?

Mon Dec 10, 2012 1:51 pm

Im starting again to really looking for some cash flow properties. If you got some ideas for areas in BC, please share!

FYI!
$80-100k is my budget for a downpayment so ya I know my options are limited.

thanks!
 
Geyser
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Re: can u still get cash flow in bc?

Mon Dec 10, 2012 5:19 pm

Can you wait a year or two?
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
vancityeast
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Re: can u still get cash flow in bc?

Thu Dec 13, 2012 9:13 am

ya I can wait but last time I waited I missed out on a 2.25% interest rate and probably would have been cash flowing as I type this message! I see theres houses over in Abbotsford, Maple Ridge and Pitt Medows for decent prices. I just need to do some research on rental rates and vacancy rates out there.
 
rofina
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Re: can u still get cash flow in bc?

Thu Dec 13, 2012 6:33 pm

ya I can wait but last time I waited I missed out on a 2.25% interest rate and probably would have been cash flowing as I type this message! I see theres houses over in Abbotsford, Maple Ridge and Pitt Medows for decent prices. I just need to do some research on rental rates and vacancy rates out there.

If you are trying to squeeze cash flow out of a property, and you truly are looking BC wide, there are better places to consider than the lower mainland. Even Kelowna offers a distressed sale or two, that can borderline make it worthwhile to dive in.

Though, to be frank, all BC property is preposterously overpriced. Some areas even more so than Vancouver.
 
SOLDSOLDSOLD
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Re: can u still get cash flow in bc?

Fri Dec 14, 2012 11:05 am

I'm working a super cheap investment property in Mission. Former grow op that has been remediated. Needs quite a bit of reno work but the potential is there. 2600 sqft split level on a 10,000 sqft lot. $275,000. Open house there this Sunday. Let me know if you'd like more information.
 
vancityeast
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Re: can u still get cash flow in bc?

Fri Dec 14, 2012 2:33 pm

thanks.. I'll take a look at some Kelowna properties but still prefer the burbs. The closer the better to Vancouver for me. I'll even consider Surrey.
 
unicas
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Re: can u still get cash flow in bc?

Fri Dec 14, 2012 7:05 pm

A few years ago when I was discussing my investment in a 4 plex in Abby, Thompson posted some thing like this "too small numbers of units to hire a manager, too far away from where live to look after myself, weak local economy and fewer immigrants, a recipe for disaster. Harsh words, but true. Unlike Vancouver where housing price can be prohibitive, most people who have stable jobs would have owned their place. One third of Canadians are one paycheck or welfare check away from bankrupt, unfortunately that is basically all you can get. Unlike Vancouver where at least you can rent to new immigrants, they may not have good job but they normally have savings and they do pay rent before they go to liquor stores.

By the end of day, you wont get the kind of cap you look for, you would have nothing but headache. And there will not be opportunity for appreciation like you may have in Vancouver. I will happily take 4 cap in Richmond than 8 cap in Kelowna. Just my 2 cents.
 
westar99
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Re: can u still get cash flow in bc?

Sat Dec 15, 2012 4:11 pm

I don't know about Abbotsford or the other outer suburbs. I will say that one can have problem tenants even in great
areas and in Vancouver based on my experience. However, unless you are paying almost entirely in cash, you will have a losing
investment. A friend of mine had to ditch his Vancouver Kitsilano rental condo because every month he was dishing out expense after expense
but his rent didn't come close to covering the expenses (with a 20% down payment). My family has OK luck with Vancouver rental property but
that's only because they paid cash but even then some of their tenants have been problematic. Victoria has worked OK, too, but that's because we bought years ago - again the cash flow just isn't there if you were to buy today. I will say I have had excellent results over the last six years in Saskatchewan - specifically Regina. And I'm still buying there. Even today, you can still buy a SFH for $300,000 or so in a good part of town and get $1800 month rent plus utilities and get your pick of good quality tenants. And that's without an in-law suite - you just buy a place in a good part of town, rent it to tenants with good jobs and not worry too much. You can get other homes at even better cap rates in not so nice parts of town but they will be high maintenance and definitely not suitable for the out of town landlord. With a vacancy rate of 0.8%, it is actually easier to get good quality tenants with stable jobs in Regina then in Downtown Vancouver, believe it or not.
 
extirpated
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Re: can u still get cash flow in bc?

Wed Dec 19, 2012 2:19 pm

u can get cash flow in the fairview area of halifax, like this duplex which is right by a good school. just hire a property manager...
http://www.realtor.ca/propertyDetails.a ... 1363565379
 
vancityeast
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Re: can u still get cash flow in bc?

Fri Feb 01, 2013 10:56 am

I should probably start a separate thread but whats all your thoughts on investing in rental properties in Fort McMurray?

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