New Member from Vancouver, BC

[Ryan McMaster]

Hi everyone!

I've been reading over the site information and the forum and excited to jump into the discussions.

I run an online business and live in Vancouver, BC. I understand that many people from the Lower Mainland are avoiding the area and instead investing in US cities. I totally get it with the high real estate prices here.

I thought about foreign investing in Mexico (Riviera Maya) as the prices are low and Vacation Rentals can bring in decent income. A lack of financing options didn't make the plan work out at this time though.

Instead, my wife and I are thinking the first place we buy should be local and would purchase a multi-unit house, duplex, triplex, etc. in a fairly affordable neighourhood right in Vancouver.

Any advice for someone trying to make a wise decision in the overly expensive Vancouver? Is it a lost cause or can some smart buying decisions here make up for the high cost? My wife and I are willing and able to do hands-on work to improve the the property for resale and increase rental income.

Looking forward to chatting with some locals. :-)

Cheers!