Deal of a Single Family in a Very Rough Neighborhood

[Eric Wilson]

Hello. I’m looking into buying a 1/4 of a fourplex unit in Kelowna, BC. It’s a foreclosure in rough condition. It’s located in one of the roughest areas in town where tenants are usually on social assistance. Not that Kelowna is that bad of a city, like there’s no murders here or stabbings.

The price is nearly 1/2 price compared to anything else outside the neighbourhood and the whole city. It cash flows pretty well. It should be about 20 years before the neighbourhood turns around.

I need advice on if this is a good deal or to stay away from it.

Eric Wilson.

[Steve Vaughan]

Running errands today I saw 6 plexes you couldn't pay me to own.  I've been doing this a long time and know better. And these were east side Cs.

My server, big ugly Tony, may do well owning these things.  Show up for a site visit in your suit? LOL

I sold 2 other side of the tracks POS rental houses  and both had problems while vacant and staged.  Even the cats and birds knew it was a bad area and squatted in my crawls and rafters.  Endless problems await is my guess for this.