NEWBIE looking to start investing in British Columbia, Canada!!

[Michael Peverelle]

Hey everyone,

My name is Mike, and I am very new to bigger pockets and real estate investing. I've started by listening to the podcast which brought me here!! I'm currently living in Victoria, BC, Canada and as beautiful as the island is we all know that its very expensive compared to other parts of Canada. Does anyone have experience with renting or flipping out of province homes? Or does anyone know how the other areas are going to appreciate in value ( Naniamo, Ladysmith, Chemainus) Any insight would be greatly appreciated!!

Thanks!

[Brian Hosier]

Hi Michael,

Let me be one of the first to welcome you to the BP community. It is the BEST place on the web to learn about real estate investing. I hail from just outside Vancouver so we are kind of neighbours. Lol. In general, I find it very difficult to build a real estate rental business in BC due to the high prices. I know there is some new developments in Langford (not far from Victoria), with built-in positive cash flow, but those are the exception. 

I invest passively in Saskatchewan where it's easy to get the "1% Rule" and I make a great return on my 3 rentals there. In fact, my return is guaranteed under contract but that's not typical either. If you ever want to chat about real estate, or make a trip to the Lower Mainland, send me a message. Good luck in building your RE business.