All Forum Posts by: Cory Graham

@Aaron K. Thanks for the candid tips, a lot of truth behind that.  

Seem to be getting a little antsy in my search.  I think for myself, and a lot of other newbies out there, I figure the best thing to do is keep researching, keep looking, and get involved in local real estate groups as much as you can.

Thanks!

Hello all, 

I am a new investor that has been doing a lot of research into REI over the last 3-4 months. Currently I own the condo I live in in Surrey, BC, and am hoping to acquire my first rental property this year. As I have done my research I have been having a difficult time making the numbers make sense for rental properties throughout the GVA, so I have been looking more into the Fraser Valley (Abby, Chilliwack, Mission etc). Nothing I have been finding comes close to the 1% rule. Also, any properties I have tried to analyze for practice, the Cash on Cash returns, cash flow, ROI etc are just a downright bummer.

Now I have only been looking on the MLS, and know that private deals may be out there, but my first little bit of searching has been a bit discouraging!

I have joined a few groups on MeetUp.com that meet within the Fraser Valley/Vancouver monthly to talk various aspects of REI, and hope to attend these over the next few months. I also went to a free REIN info session, but got a tad spooked by the hefty price tag attached to it.

I was wondering if any other investors out there have had success with Buy and Hold rental property in the Fraser Valley Area lately, not taking appreciation into account? Whether it be SFH with basement suites, or small multi-family units (<4), I would love to hear about your stories, and am always open for opportunities to meet and network!

Thanks so much for any advice, tips, or general feedback, it is all greatly appreciated!  

@James Ma yes on my research I have been driven out of the lower mainland, even looking at Abbotsford/Chilliwack area, but I am still very early in the process and building a network here.  Like yourself, the States looks very attractive, but as a new investor, I think it makes sense to stay above the border to take out that added layer of difficulty. 

Where do you invest James?

Cory

If the GTA is anything like the GVRD in/around Vancouver, you'll likely have to look at a neighbouring market to find a cash flowing property.  Or at least that is what I have found in my initial research!  I could be wrong

 Right on Caleb, 

And how did you get yourself over that first hump?  I find myself doing all this research and then when I start going out and contacting REA's, or going around and actually putting theory into practice it becomes quite overwhelming. 

Hello BP folks!

Hope everyone is having a fantastic start to their 2018, my name is Cory I am an aspiring REI looking to take that jump and get my first investment property.

I'm sure there are others like me, that are great at finding ANY excuse to not jump on their first deal.  

"I can't afford it",  "The market's too hot", "I'm scared", "I don't have enough time", "My wife/husband/dog would kill me!".

I have been doing a ton of research and it seems like the more I know, the more I realize I don't know, and this at times can get pretty depressing! On top of that I am Canadian (eh), so that adds another layer to the difficulty in getting started in the States (poor me, I know)

Now, if there are any of you out there that have gone through this process, and have managed to get their first deal in the past year, I would love to hear about it!  Could give us newbies still searching for our first deal some motivation to take ACTION.  

If you could include where/what you bought, and some numbers so we could do some mock analyses, that would be greatly beneficial.  

Thanks guys, and can't wait to hear some of the responses!

Hi guys, 

I am a new Canadian investor from Vancouver BC and I run into the same problems as you guys.  The GTA and GVA are very similar in being very tough markets, but the farther out you go the more likely deals will be available.  For us here I am looking more into Abbotsford/Chilliwack, and potentially into Washington State. For you guys I've heard stuff in the Ontario forums about areas like Kitchener/Waterloo, Hamilton etc, maybe even east out towards Kingston.  But the downtown cores are pretty jacked up prices!

If you come across any good Canadian focused resources I'd love to hear about them.  I recently attended a REIN (real estate investment network) meeting here in Vancouver which was great, except they charge $200/month to join their group with a minimum 18 month commitment (erp).  They recommended looking at the book "Real Estate Investing in Canada: Creating Wealth with the ACRE system", although I haven't read it myself. 

Good luck!

Hello Tajinder, 

Wondering how your market research has been going in the Abbotsford market?  Did you end up buying there?  I am also looking there as an investment area depending if the prices are right and there are deals to be had.  

Cheers!

Cory

Thanks for the reply Jeremy.  I am still developing my plan and may consider looking South to markets like Phoenix AZ and surrounding area.  More I look at it the more it looks difficult to impossible to find the types of deals I want to have in my portfolio.  

Will continue my research!! 

Thanks

Hi Jessey,

I am a fellow Vancouverite new to the REI game as well, and my initial research is leading me towards buy and hold USA properties due to the craziness of the Vancouver market. I have one property in Surrey BC I currently live in and am definitely wanting to get involved in either WA, or Phoenix AZ markets.

If you make any headway on your research and want to touch base I would be willing!

Cheers