Real Estate Talks

Made a visit.

Whistler is as I recall it. Kinda boring unless you like recreation trails and fake Alpine.

Squamish has the real nature trails and the genuine main street.

I'm told by a realtor that the Hilton property is not restricted to 26/26. However, it is not cash flow positive.

I take it to mean that the fees and commissions are horrendous. No go!

Anyway, I took a lot at the lobby. Doesn't look like a Hilton. Hope that the price falls by another 50%.

Suggest that a visitor take a look at a rental condo instead of buying into a condo-hotel.

For example, this property for $1900 per month in May.

https://www.airbnb.ca/rooms/130828

Anyway, I took a lot at the lobby. Doesn't look like a Hilton. Hope that the price falls by another 50%.

You sound like Timber!

Did something go in the wrong end???

I would suggest totally avoiding the properties with restriction on usage. I have seen some recent jaw dropping deals in Whistler. My top picks would be Whistler Village and ski in / out condos zoned for nightly rental. There are very few three bedroom units and they are highly rentable. I have seen a 3 bedroom unit go for $595 000 which in 2002 would have been 1.2M The Aspens on Blackcomb (ski in /out) 1 bedroom units in the low $300 00's , in 2002 $600 000. Market place Lodge 1 bedroom $199 000, in 2002 $350 000. At these prices passive monthly rentals can be cash flow positive. Self managed nightly rentals can be a win fall. It is not all doom and gloom, well located chalets have retained their value.

Jimtan not sure what you mean by Whistler having "fake alpine" I somehow doubt that you have been anywhere other then the top of a gondola.

Squamish is "genuine" alright. A genuine armpit. Go for it.

You sound like Timber!

I'm telling it like it is. These 'special deals' are toxic when the buyers don't read the fine print.

I would suggest totally avoiding the properties with restriction on usage. I have seen some recent jaw dropping deals in Whistler. My top picks would be Whistler Village and ski in / out condos zoned for nightly rental. There are very few three bedroom units and they are highly rentable. I have seen a 3 bedroom unit go for $595 000 which in 2002 would have been 1.2M The Aspens on Blackcomb (ski in /out) 1 bedroom units in the low $300 00's , in 2002 $600 000. Market place Lodge 1 bedroom $199 000, in 2002 $350 000. At these prices passive monthly rentals can be cash flow positive. Self managed nightly rentals can be a win fall. It is not all doom and gloom, well located chalets have retained their value.

Good to have you back.

Thanks for the info. Yes, prices are down a lot for condo because of the supply from Creekside. Will take a while to digest.

I agree that the high end market looks promising as the economy comes back.

I'm told by a realtor that the Hilton property is not restricted to 26/26. However, it is not cash flow positive.

I take it to mean that the fees and commissions are horrendous. No go!

Anyway, I took a lot at the lobby. Doesn't look like a Hilton. Hope that the price falls by another 50%.

Suggest that a visitor take a look at a rental condo instead of buying into a condo-hotel.

Don't fall for it, there are more and more Phase 2 properties that are going this route, its a phase 2 property acting as a phase 1, take a look at Alpenglow.

Phase 2 is nothing more than a horrible timeshare scheme, the owners put up the capital and take all the risks, while the hotels make all the money (although I doubt they are making much money the past 5 years). The hotel also ensures the properties continually lose money with high manaement fees for the owners. To make matters worse, every night you use it, means the property comes out of the rental pool, which means you are essentially paying top dollar to stay at your own hotel-condo, in the form of lost revenue.

Phase 1 properties are the only way to go, you can self-manage which isn't to bad, or in Jim's case you won't need to manage, since you aren't renting it out...or go for a place this isn't zoned for nightly rental at all, this means you will be further away from the village though.

I think jimtan should spend every last cent in Whistler - I'm sure that's a can't lose proposition

http://www.whistlerlistings.com/residen ... tus=Active

this looks nice

this looks nice

wow. it makes my DTES SRO rental look like a broom closet.
Wait a minute, it is a broom closet!

any thoughts/comments on Lost Lake Lodge?