All Forum Posts by: Daphne Wielunska

@Melanie Dupuis thank you! Means a lot to hear from you! ☺️

@Ted Dalal thank you Ted! I will take all of your advice into consideration. Thank you for the insight. it is very helpful. Cheers!

Hi there,

I am located in BC Canada and have been trying to land my first deal. It has been frustrating to say the least with properties selling over ask. I will not resort to these bud wars as it does not make sense from a cash flow perspective.

I recently came across an owner that is selling his condo unit privately without an agent. It caught my attention because perhaps I will have more of a shot since it’s not as public as an mls listing. The numbers also look good when running an analysis.

Can anyone give me tips or resources navigating through a private sale? I am a property manager so I understand how to read strata documents etc however I want to make sure I understand any things I need to consider or be cautious of during a transaction like this.

Thank you.

Hi everyone, I am so happy I came across this forum where I can hopefully connect with like minded individuals who want to learn more and continue growing. I am 27 with two kids and have been a property manager for five years. I also powerlift 4 times a week. I love setting goals lol! I am currently renting and was strategizing to stay in the suite as our cost is so low to live at $1150. I have $50k to invest but am struggling where is the best place to put it. First barrier, we need to put 20% down on any investment property since that mortgage insurance is required so that means our purchase price needs to be around 300k. It is so difficult to find anything cashflow positive. Even in abbotsford I am struggling. Then you think about strata fees and how they fluctuate and the special levies that may or may not be assessed that you cannot necessarily pass on to your tenant. Does anyone have any suggestions how to start ? My mind has been thinking of many scenarios but would be amazing to hear other feedback. Thank you for taking the time. Cheers. 

@Jeremiah Lewis you are in a good position because you are moving out of your primary residence! I can imagine you have a solid equity in that home so just know you have emergency funds you can access if it doesn’t rent right away. Do your research too. Best of luck. My finding have been that there is a shortage in rentals so if you price it even $100 under the market you will be solid. We are still renters and my strategy was to continue to rent to keep our costs low while accumulating a few properties and having our tenants pay down. We only pay 1150 monthly where we live now.

@Tim Delaney thank you for your feedback. I appreciate it. I actually decided to forego this deal as I don’t think we would be able to achieve positive cashflow or it would be very tight. I will continue looking but the lower mainland in BC has proved to be challenging for cash flow positive deals. Strata fees are also tricky given they can fluctuate and special levies can be assessed to an owner which can’t necessarily be passed onto the tenant.

Hi Everyone, I am so happy I came across this forum as it would be great to connect with like minded individuals. I have been a property manager for 5 years and am looking to start my own investment journey through real estate.

I have 55k to start with and I have been reading a vast amount of material and strategies to accumulate wealth but I am struggling to decide where to put this money to allow for growth.

First barrier, 20% is required down for investment property so max purchase price would be about 300k. What would you do with the funds? I have been looking at deals in the lower mainland but wow it’s so hard to get even any positive cash flow. Even in Abbotsford it’s a hard find.

Any advice would be amazing to help me figure out how to do a first successful deal. I like to think I’m a very motivated and driven person so hoping to learn as much as possible. Thank you for taking the time to read this and very excited to make some valuable connections. Cheers.

Hi there,

I guess I am writing to see if I can get any support as I take the first leap to purchase a property. I am from BC Canada, specifically Coquitlam. There are not many cash flowing property here because of high costs. I found a 3 bedroom 1600 condo (two level) above retail in Abbotsford and it seems like a unique property but I am terrified it won’t rent. Asking is 449k but due to comparable a we are thinking to go in at 465k. Since this is a condo with three bedrooms it’s hard to find comps. Anything I see this size is a detached home. How would I compare to see what it would rent for? At 465k I would need about 2300 to rent. While detached home rentals are going for this, I worry a condo is lacking due to no yard even though the sq footage is there. Any advice? I don’t really even know what markets to look at. I was just going by the vacancy rate but offers are to start Wednesday and I’m terrified. Any guidance would be great. Thank you for taking time to read this.