Real Estate Talks

Hi All,
I was on this forum years ago then I got busy with life.  Now I am back...whoohoo!  What have I missed?  Not too much drama I hope!  I have lucked into a small bit of cash ($15K) and want to buy another rental property to hold.  Is that possible any more in BC?  If so, where do you suggest that I look for places under 100K?  It can be anywhere - I would just like it to be cash flow neutral or positive.  I have tons of experience with flipping and investing in Vancouver.  Thoughts, wisdom?  Wisecracks and bits are welcome if they come with some legit answers. 

Best,

Maggie
formerly Kitsgal

I am from Vancouver Island but currently I live in the Lower Mainland area.  I would advise Campbell River or Comox Valley as a great place to buy a small affordable condo or townhouse if it allows rentals.    Those areas are growing rapidly and there is a severe shortage of rental homes in both areas.

I am from Vancouver Island but currently I live in the Lower Mainland area.  I would advise Campbell River or Comox Valley as a great place to buy a small affordable condo or townhouse if it allows rentals.    Those areas are growing rapidly and there is a severe shortage of rental homes in both areas.

Hi Islandlady!  I remember you from long ago.  You always give great advice.  Yes.  I was thinking CR but I was surprised at how much things are already selling for over there.  I will keep my eyes peeled for a deal.  Have a great day.  m:-) (formerly kitsgal)

Good luck. Will be our loss. 

I am from Vancouver Island but currently I live in the Lower Mainland area.  I would advise Campbell River or Comox Valley as a great place to buy a small affordable condo or townhouse if it allows rentals.    Those areas are growing rapidly and there is a severe shortage of rental homes in both areas.

there's lots of places under 200k in richmond(not houses though)

Im kind of digging Aldergrove these days  I think the new water supply and recreation center are the start of something good.  Its right in the middle of two growing areas of Langley and Abbotsford...and yet its a good place to get away from the crowds.   I like some of the new homes being built out that way.  The downtown area sure needs some refreshing though. 

Im kind of digging Aldergrove these days  I think the new water supply and recreation center are the start of something good.  Its right in the middle of two growing areas of Langley and Abbotsford...and yet its a good place to get away from the crowds.   I like some of the new homes being built out that way.  The downtown area sure needs some refreshing though. 

Aldergrove.  Hmmm....I haven't even thought of that - and to be honest, I know very little about that area.  I have been thinking out the valley in order to pick up something that I could drive to easily if there is an issue.  One of my "rules" is to buy in an area with a private police force (non-RCMP) - although Abbotsford is not helping with my system.  Will take a look.  Thank you for the tip.  Do you know a lot about Chilliwack?  There are some nice units there.   :-)

Im kind of digging Aldergrove these days  I think the new water supply and recreation center are the start of something good.  Its right in the middle of two growing areas of Langley and Abbotsford...and yet its a good place to get away from the crowds.   I like some of the new homes being built out that way.  The downtown area sure needs some refreshing though. 

Aldergrove.  Hmmm....I haven't even thought of that - and to be honest, I know very little about that area.  I have been thinking out the valley in order to pick up something that I could drive to easily if there is an issue.  One of my "rules" is to buy in an area with a private police force (non-RCMP) - although Abbotsford is not helping with my system.  Will take a look.  Thank you for the tip.  Do you know a lot about Chilliwack?  There are some nice units there.   :-)

What do the police have to with your real estate investments?

Im kind of digging Aldergrove these days  I think the new water supply and recreation center are the start of something good.  Its right in the middle of two growing areas of Langley and Abbotsford...and yet its a good place to get away from the crowds.   I like some of the new homes being built out that way.  The downtown area sure needs some refreshing though. 

Aldergrove.  Hmmm....I haven't even thought of that - and to be honest, I know very little about that area.  I have been thinking out the valley in order to pick up something that I could drive to easily if there is an issue.  One of my "rules" is to buy in an area with a private police force (non-RCMP) - although Abbotsford is not helping with my system.  Will take a look.  Thank you for the tip.  Do you know a lot about Chilliwack?  There are some nice units there.   :-)

People actually familiar with the valley would know why and the reasons for the type of public safety department you want

There is crime everywhere now its just one big melting pot, really doesnt matter that much anymore...in my opinion   

There is crime everywhere now its just one big melting pot, really doesnt matter that much anymore...in my opinion   For condos I would like Courtenay, Comox, Campbell River.  For single family new construction houses, I would look Aldergrove.  Thats just MY opinion.  Also around Guildford mall there are some affordable condos near Skytrain.   Just my thoughts and where I would personally prefer to own. I find Langley near 200th is just getting too busy now and will get busier and prices have already come up quite abit the past few years.  For townhomes I am not sure.... they seem to be everywhere these days but they are no longer "cheap"  rentals really. 

https://www.realtor.ca/Residential/Sing ... -Fanny-Bay

Check out that listing.  Its just under 300,000 and its right across from the ocean....and yes it is on its own lot!   One day you could build a home on it and get rid of the mobile.  Will require a septic system but where can you get such a liveable home with an amazing unobstructed ocean view anywhere anymore for this price?  Its only ten minutes into Courtenay..and on the old Island Hwy which quietens right down at night and in the winter. It is on an access street parallel to the old hwy. No one will ever build across from you.   Do a google street view, you can literally walk your kayak from your home and drop it in the ocean

That listing I recommended has now sold.  HOWEVER that entire area, there has just been an announcement of a big development coming in soon, with two golf courses etc.  Beautiful ocean views.   The area is called Union Bay on Vancouver Island. Its a little gem about to explode  http://businessexaminer.ca/vancouver-is ... nt-project

Maggie I didnt see your earlier question about Chilliwack.  I think Chilliwack is really a pretty area with the mountain scenery, river, Cultus Lake, but it is just so much further from Vancouver than Aldergrove.   Chilliwack has also risen a lot in price the past couple of years, like everywhere.  Aldergrove always had a bad rap and reputation, but it was really the lack of a good water system and difficulty in finding land to be developed that is not in the ALR that has held back Aldergrove.  Now the water is in place as of quite recent, there IS development going on. It just makes sense when you consider the distance along HWY 1 is only ten more minutes past the 200th st exit.    My best bet to invest is Aldergrove in the lower mainland, and Union Bay on Vancouver Island. .  There is crime everywhere now, Langley near 200th is having shootings and such. Other than petty break ins by homeless people around Aldergrove, (which is easy to take care of with a good home security system and locks on your garden sheds and gates etc) there has been no more serious crime in Aldergrove than anywhere else in the Fraser Valley lately, I fact I would say there is almost less.  Its not nearly as busy as Langley or Abbotsford, its like a nice quiet bedroom community in comparison surrounded by farmland so likely will never get TOO big or busy like the other areas.   Aldergrove’s time has come, so has Union Bay.  They have both waited a long time and WATER was the problem.   Reputation is old news....due to the cost of real estate everywhere now and all the new investors coming in those old rumours are just not going to matter anymore. Its all about dollars now.