All Forum Posts by: Edison Reis

I love student rentals ! My business model in Canada has been 4 months of STR and 8 months of student rentals. Are there STR restrictions in those areas ? Thanks in advance

Thanks a lot folks ! I really appreciated 

Dear RE friends,

I am a Canadian investor and currently investigating the real estate market in West Virginia area. 

Considering that I don’t have any RE friends in the area, I am seeking for information to decide if WV is a good area to invest in rental properties. (and potentially which which counties or towns would be considered the best ones) 

I would appreciate any feedback or suggestions 

Thanks in advance,

Merry Christmas 

Edison 

Vantage West in Kelowna.

The right answers is ..... the best city (to live) is the best place for you, your family and goals. 

Even knowing I like several cities in US, I wouldn’t move away from Canada (due to political, safety, education, financing steadiness and health care reasons) but I would definitely invest there as long it matches my criteria. 

I went through the answers and unfortunately most are biased as people are promoting their own business (which is understandable) so remember one important thing .... you can invest in a cash flowing place without having to live there. That’s why PM companies exist. (It doesn’t matter if the city is good, bad or ugly as long makes you money)

My approach is simple ..... invest for financial gains (anywhere) and live in a city that provides the lifestyle I am  looking for. (if you can combine both even better) 

I live in Kelowna (possibly one of the best places to live in Canada) so we invest around here because regardless what happens in the world, this piece of paradise will always be a highly desirable place.(This region has short winters and hot summers, 128 wineries, orchards, more than 19 golf courses, 2 ski hills, several lakes, great outdoors, etc.)

Note: Our latest investment is in Victoria, BC but in US I would consider Arizona, Texas and Indiana.

Happy investing 

Edison 

Awesome story ! Kelowna is and will ever be a desirable location in Canada hence property prices will keep raising as the years go by. 

Cheers

Edison

Welcome @Steve Davis !

I am an investor and a housing rental provider in Kelowna and soon in Victoria. 

Yes, lots of infill opportunities but it seems that investors and builders went at it too fast and at the same time. (Understandably to benefit from the opportunity)

Technically is a good idea but I suggest to proceed with caution as I see lots of finished properties sitting empty as they are unable to rent to range that allows them to cash flow. The market defines the rent so if you build a fourplex with 2 bed 2 baths units (like most) you won’t cash flow renting for approx 2,000 (avg rents) 

Some investors gave up trying to rent so I've seen there several new fourplexes for sale (unit prices were around 650K for each unit few months ago) which I personally think they are overpriced for something small (almost a condo) without any land or yard space. (You better buy a SFH)

I am not saying isn’t a good idea but ..... proceed with caution! Come and spend few days assessing the market and area yourself. 

Good luck 

Edison 

Well done @Sean Nelson ! Lessons from the trenches 

Thanks for the feedback @Sean Nelson ! Nice to connect. 

We have a FB website but because I am not seeking JV's at the moment (our rentals were self financed) we haven't gone full out yet.

I am getting close to buy another property in the Victoria area but after that we will start pursuing partners to increase our portfolio. (I want to make sure our system is tested and effective before ask for OPM which would increase our conversion rate and results)