Real Estate Investments

[kyle]

Does anyone here own real estate as an investment. Rental property vacation property ect?

[faller]

Ya 3 rentals. My wife is a realtor so she finds these sweet gems that are good buy's. Though the last couple years have been bad for investment property, the price's have gone up so fast that it was impossible to find any deals. The market here on the island has dropped off quit a bit in the last few month's and it's almost to the point where investment is starting to look good again..

[ubcpower]

I have 2 apartments in Vancouver i rent out along with co-ownership of land out in Langley with my brother

[kyle]

currently I have one building but im going to be buying a few more since prices have dropped off about 10-15% in my area in the past 6 months. I can also find all the good deals since im in real estate.

[ubcpower]

where are you based out of?

[physique]

faller check campbell river out. condos are called panoramic views!!! cheap!!!

i own 2 condos. one 2bedroom and a 1bedroom. I would buy another 1-2 if i could afford it, but the bank isnt too good about giving out money right now which sucks. hopefully prices stay down and i can scoop another 1 up by july 09.

[ubcpower]

Physique my family is looking at a vacation property in Parksville. its a strata development i believe right on the beach. Are there any steals their still or is the area already basically priced out?

[physique]

Physique my family is looking at a vacation property in Parksville. its a strata development i believe right on the beach. Are there any steals their still or is the area already basically priced out?

define vacation property? do they own it yearly, or is it one of those weekly or monthly ones?

parksville still has some deals in it, but not many. depends on the part of town. go farther down island towards courtenay, campbell river, and even farther sayward, gold river and you will find tons of smoking deals.

hows the treadmill?

[ubcpower]

it would be ownership for 3 months (1/4 interest). the other 3/4 would still be in the family with my other relatives. It is towards COmox abit. I have yet to go there to check it out.
As for the treadmill, guys are coming tommorow from Guideline to diagnos and fix. As soon as its ok i plan on craiglisting it then ill hit you up (prob round end december/january) for your ultimate equipment connection. thanks for asking bro

[faller]

Physique you want some real gem's check out Port Albernie. Port is still undiscovered imo, close to Pacific Rim, about an hour from Naniamo, very under valued realastate considering it's location. We've been snooping around, only problem is the rental is still cheap there..

[physique]

Physique you want some real gem's check out Port Albernie. Port is still undiscovered imo, close to Pacific Rim, about an hour from Naniamo, very under valued realastate considering it's location. We've been snooping around, only problem is the rental is still cheap there..

hows the vacancy rate??? this could work for me, as i have a buddy who travels there to see his parents all the time. he could check the rental for me, saving me the time of driving down there.


at least in CR, i can pretty much walk across the street from my work to find out whats going on. Im lucky too though, 1bedroom is a guy and gf on the local hockey team. 2bedroom is a middle aged couple.

[faller]

K i just asked my wife and here's where Port is at, "there are currently 54 homes for sale in port that are vacant..then of course there will be the vacant ones not on the market", "i would say that leans in favour of the tenants!"... Not a good thing.

That's the shitty thing here, good buy's but way too much available and also most rentals will have to be subsidized unless you have a big down payment.

[kingofthegeeks]

I own a condo in Puerto Vallarta and a house and condo on the Cancun side, and actually leaving on the 30th to look at a couple firesale properties where the US owners have dropped there drawers and are needing to get out bad. I have owned property in alberta but saw the bubble bursting and was able to liquidate at the perfect time. I like properties in Mexico because they can pay a years mortgage in 3 months of rental during the high season, and i generally find they provide a 20 to 25% yearly ROI much better than i can expect to recieve here the last several years.

[ubcpower]

I own a condo in Puerto Vallarta and a house and condo on the Cancun side, and actually leaving on the 30th to look at a couple firesale properties where the US owners have dropped there drawers and are needing to get out bad. I have owned property in alberta but saw the bubble bursting and was able to liquidate at the perfect time. I like properties in Mexico because they can pay a years mortgage in 3 months of rental during the high season, and i generally find they provide a 20 to 25% yearly ROI much better than i can expect to recieve here the last several years.

What kind of time duration for renting do you find is best for investment rental condos in Mexico.

[faller]

Undiscovered..? Have you ever been to Port? It's the biggest shit-hole in BC with the exception of Merrit. Port had it's time bud.. Now there's no jobs, or money in that town. The place has been in a depression for the last 25 years..

LOL, worked lots in Port but ya i hear what you're saying but the same was true for Gold River, Tahsis, Tofino and Uqucluelet, hell even Lake Cowichan. Been there lately? What i mean by undiscovered is it hasn't made the transition from "industrial".

Just take a look at the new construction there, the big box store's setting up shop. They aren't settling in because they think logging is going to take off again, it won't, those days are gone. The island is a destination, realstate is getting expensive and places like Port aren't going to stay cheap.

Buy low, sell high!! Some awsome buy's there if you have some extra coin laying around

[kingofthegeeks]

What kind of time duration for renting do you find is best for investment rental condos in Mexico.

It really depends what kind of renters you want, i find weekly definately pays better but i prefer monthly, it only pays about half of weekly but i have not had a place trashed since i started renting monthly and its easier to keep full because most people book way ahead. I currently have 2 of the 3 places rented with paid deposits into 2010.

[ubcpower]

It really depends what kind of renters you want, i find weekly definately pays better but i prefer monthly, it only pays about half of weekly but i have not had a place trashed since i started renting monthly and its easier to keep full because most people book way ahead. I currently have 2 of the 3 places rented with paid deposits into 2010.

Ya. I would think the clients doing weekly would be late teen/college younger types who can only afford to get away from school/work for 7-10 days. The longer ones more retired or business professionals ya?

[physique]

It really depends what kind of renters you want, i find weekly definately pays better but i prefer monthly, it only pays about half of weekly but i have not had a place trashed since i started renting monthly and its easier to keep full because most people book way ahead. I currently have 2 of the 3 places rented with paid deposits into 2010.


i agree. my parents rent there place in mazatland monthly when they dont use it. even in rthe shit season the place is still rented. for not as much mind u, but who cares. The only time they dont rent it, is spring break as you are just asking for trouble!

[kingofthegeeks]

Ya. I would think the clients doing weekly would be late teen/college younger types who can only afford to get away from school/work for 7-10 days. The longer ones more retired or business professionals ya?


Yes thats exactly what i find.

[kingofthegeeks]

While on the subject, this economic forecast gets any worse and i am going to liquidate all my assets in canada and move my ass down into one of my places. Then everyone will be invited to the first annual "Party at Kings" my ultimate retirement plan, if you can get to Playa Del Carmen for two weeks every year the party is on me...............:a+

[michealJ]

i'm going to buy soon as everything hits rock bottom

[rottin]

if u can afford it real estate is always a good investment, u have to just time the market. its pretty rare u take a 50% or better hit on value, unlike the stock market.... and eventually the value always comes back even if it does decline for a while . Hell my parents bought their first house for three grand , i bought mine for one hundred twenty five , my kids?...........? I have 2 rentals both have been great long term tenants and values in my area boomed in the last couple years like most places . Just signed into 4 acres industrial property down town here in smallsville for 300 k less than last years assesment previous owner is going to lease back some of the offices and property and i have room for two more tenants and all my equipment. Better to pay a mortgage then burn money in rent imo....
rottin

[diverguy]

Ive got 4 suites in New west. Cant beat an investment paid by other people. Now is the time to scoop up properties. Ive got my eye on a really good interior fixer upper with 3 suites. If you look hard the rental properties are out there.

Try to find homes with legal or autherized suites only so the banks with account for that income

[kyle]

The market has been heating up recently in the GTA still a great time to buy property. I'm looking at a few places in hamilton this week. My sales were very slow this past winter and they have picked up quite abit since march.

[diverguy]

The market has been heating up recently in the GTA still a great time to buy property. I'm looking at a few places in hamilton this week. My sales were very slow this past winter and they have picked up quite abit since march.

Ah good old Hamilton, my home town. I wouldnt mind buying a home there. I would get my old man to look after it and the tenants.

[BCprick]

Undiscovered..? Have you ever been to Port? It's the biggest shit-hole in BC with the exception of Merrit. Port had it's time bud.. Now there's no jobs, or money in that town. The place has been in a depression for the last 25 years..

bahhaha
merrit is such a dump

[s.tranger]

cool, I want to do this in the future.