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.