Investing In BC, Vancouver Area

[Sheldon Caruana]

Hey BP, I am looking to invest in the Vancouver, BC Area, I am looking to get a condo or small home under 225k. I'd like to live in it, for the time being and if it has another unit rent it out. I have been looking in Abbotsford, and wonder if anyone have any recommendations for places to invest in this area, I have read a lot of posts saying that it is becoming less profitable to invest in this area, any investors out their still purchasing? What are the thoughts? I will be working in this area, so I do need a place within communing distance to Vancouver Airport.  

Thoughts?

[Haydn Baggaley]

If your interested in an apartment and willing to put in some work and money to improving things over the next couple years I may have an option for you in Abby.

Bakerview apartments has had two bed units sell for between 193K-222K this year and there is currently one listed for 220K.  It's looks well maintained but is mostly original and unrenovated so you should be able to negotiate that down.

The building is currently in the middle of some major work inside and plans to fix up the outside are going well.  There are defiantly some levies in our near future but once that is all said and we are expecting a major increase in sales value.  So this is a good time to buy, live in it for a couple years, and then sell to have a price profit to use as a down payment for something bigger or closer to Vancouver.

Current listing: https://www.realtor.ca/real-es...

If your interested you can talk to a real estate agents for the AGM minutes and copies of the recent engineer reports.  Feel free to ask me as well as I'm on council at this building.