All Forum Posts by: Brandon P.

Hi Russ!

What does your construction business specialize in? 

I’m in Regina and am actively looking for deals here but am also considering investing in Saskatoon!

I'll be honest, had no idea who she was, but looked her up and seems like she is doing some amazing rehab work up in Saskatoon. Different city than I'm in but she's definitely crushing it up there.

Hi Jamie,

I'm out west in Regina, currently investing here in single family homes, but looking to invest in other regions as well!

Make sure the eaves are draining away from the house and the grading around the foundation is sloped away from the house. I have seen basements where water is pouring in when it rains and the homeowner added a layer of yellow clay around the foundation and it helped the water to drain away. 

Are those vents in the wall? 

How is the market in Kamloops doing lately? Have you found any good deals this year?

Yaro, have you found a city to buy in BC yet? I’m very interested to hear what is happening in the market there right now

Yikes. Hope things pick up quicker for you than you expect with your business.

It seems like a lot of people from Vegas posting in the forum don’t want to believe this is the new reality.

Originally posted by @Guy Bouchard:

Vegas will reopen with great fanfare in May. May 1 is the whisper date around town. Likely May 15.  Restaurants noncasino will open with severe restrictions on amount of patrons inside. Fire code divided by 3 or 4. Mandatory masks for the waitstaff. Some will opt to take temps outside but most won't.  Casinos will slowly open. 10% of the rooms maximum. Not all hotels in the chain will open. So Wynn but no Encore. Luxor but no MGM. One or two casino restaurants allowed also with severe occupancy restrictions. Buffets will be a memory to tell your grandkids about. Dayclubs and nightclubs will not open at all this year. Bars and lounges open with occupancy restrictions. Strip clubs are done til a vaccine. Hustler just sued the SBA and Trump because adult biz was excluded from the loan packages said it might go bk. Gaming floor with every dealer in a mask will be governed by distancing.  In my primary business, I laid off 20. We service casinos. I might hire back 5-6. Everyone else is in same boat.  Conventions won't appear til 2021 in any meaningful way and not back to full tilt until vaccine. So unemployment will be rampant in Vegas until there is a vaccine. There is no reason for a tourist to show up in Vegas at all. You can't give the rooms away. Buffet's advisor said 1-3 years for tourism to rebound. And Raiders stadium likely delayed. Virgin Hotel (old Hard Rock) on hold.  Good news is that evictions can begin on 6/1. Tenants will get an extra month. Vegas death march has begun.

First, find jobs wherever you are planning on moving to so you don't need to live off the money you want to invest. Second, buy 3 homes per year that rent for at least $1000 per month. Do at least 1 live an flip and rent it or sell it after you live in it for 2 years. If you are capable of doing some renovations, work on the properties yourselves. Connect with contractors where you do not have experience or for work you do not enjoy doing. Connect with other real estate investors. Refinance any properties that you fix up to retain some of your initial investment as a cash reserve.

I don't understand the original post here, how does buying a property in a resort city at the top of the market add stability to your investment portfolio when there is a global pandemic and no one wants to travel? 

To me, Vegas would be a riskier city to invest in this year as their economy is heavily dependant on people actually going there.

Real estate prices have been trending downwards in AB and SK for a few years. The recent mass layoffs, oil price decline and slump in commodity prices will put downward pressure on the housing markets, especially in Alberta & SK. Fewer high paying jobs and widespread unemployment will force people to downsize or to move to a province with better job prospects.

I expect there to be significant price declines for most residential real estate across Canada in the next year. My best guess is that the most significant impacts will be with more expensive homes, ie) +$500k in the prairies, +$1.5m in Ontario/BC. 

We have no idea how long it will take for the economy to recover from the COVID shutdown. We do know that there are many companies and organizations laying off thousands of employees. As unemployment rates increase, demand for affordable housing will continue to increase. In 2 years, multi-family asset values will increase is most regions. Demand for downtown office space and parking will likely see a significant decrease as companies lay off more staff and realize that the office employees can work from home.

We have already seen the trend in Calgary where office vacancies were hovering around 25% due to the decline in oil investment, corporate downsizing and companies re-locating their HQ out of AB and this was all happening before the prices crashed to $20 a barrel and when people were still commuting to work together in an office.