All Forum Posts by: Christopher Bebbington

Yeah, deal 1 is a bit intimidating. I'm fortunate that I'm not really in a huge rush, and that I have a bit of flex room, even if the deal doesn't turn out to be perfect. 

Yeah, Stefano, it's quite possible we're looking at the same stuff. I haven't been bidding quite that much, but I've had a few failed attempts over the last few weeks as well. I'm just trying to stay level headed and within the math, so I don't regret anything. I'm sure it will work out, even if it takes a few more tries.

Yeah, all of that seems to make sense. I think it's just unfortunate timing for me, finally having some cash to make a move and it just so happens to be the craziest market Halifax has ever seen (to my knowledge, at least). I've done my best to learn the math and the basics, but the only real way to learn this is probably to read, read, read, then ultimately just dive in a make the same mistakes that everyone else made the first time in. The math is easier to make work the more units per property, but I'm a bit hesitant to start big; if I'm going to screw up a bit, I'd rather screw up small first. 

Even if the market slows, I suspect prices won't actually drop, just the ascent will slow.

Hey Bigger Pockets,

I live on the East Coast of Canada, specifically Nova Scotia. As anyone in the areas knows, the housing market in Halifax has gone absolutely ballistic over the last year or so, way beyond anything it's ever seen before. At least part of it seems to be fuelled by people fleeing more populous, richer provinces, like Ontario, for an area that has been relatively spared by COVID. Things are flying off the market at prices waaaay over asking, sometimes 30-40% over. 

It just so happens that I hit a point financially where I have the money and interest to purchase some investments properties, but I'm wondering if waiting for things to calm down a bit may be better than diving in in the middle of the hottest market the city has ever seen. The risk, of course, is that even if things slow down a little, the prices won't really dip, meaning that delaying just results in me paying more. 

Thoughts? Any one else looking at the Halifax market? Anyone else with a similar experience elsewhere?

Thanks in advance.