All Forum Posts by: Edison Reis

Welcome to BP @Sean Nelson ! 

How’s the response with your signs and postcards in the Northern Okanagan ? 

Cheers

Edison 

Greeting folks ! 

We have investment properties in the Okanagan and recently bought one in Langford (our first exposure to the Island)

Considering that prices in the GVA are so high even for foreign buyers (manly Hongkongers) these two locations become the next two logical options.

I expect the prices at the GVA to soften in the near future while the Okanagan and Island will see a steady increase. 

Just my 5 cents 

Happy investing 

Edison Reis 

@Nora Redden We bought in Langford which is the fastest Municipality in Canada. Higher family income than most areas and higher rents

We run STR properties and the investment analysis is pretty simple.

Check on STR platforms what the average daily rate is and research what the achievable (or forecasted) booking rate would be then check if it would cash flow.

If the idea is to run all year long (and If is legal in your area) I would consider a 65% booking rate. (Please keep in mind that occupancy ratio and daily rates are directly connected to the local attractions or desirability) 

Hi @Colin Girard ! 

Yes, I am a REIN member and believe their membership provides good value first year or two.

I am not sure now but I am in a monthly plan of 160.00 but ...  after going through all their videos, resources and other benefits becomes hard to justify it.

The best part is their annual ACRE meeting (in Vancouver, Calgary or Edmonton as far as the West Coast) but you could attend as a non member. If you live in a major city and could attend their monthly meetings and get together would make more sense but ..... I live in Kelowna and even when they have events here I am expected to pay like 50 bucks to attend.

I am about to cancel mine (it was a 17 month contract) and invest the same money in a specific coaching program or course.

Check the ones from Tilt (Jared Hope) .... that’s a non BS approach towards real estate 

Good luck ! 

@Scott Galloway If you’re looking into the Okanagan I would recommend Lake Country, Vernon or West Kelowna ( on this order) Kelowna is too expenses but still the most desirable area around here. 

Welcome @Colin Girard

The central Okanagan is harder to cash flow nowadays plus the city of Kelowna has implemented tough byways against short term rentals so I wouldn’t recommend it.

Lake Country, Vernon and Kamloops would my next options in the region. (But honestly Edmonton and Calgary are currently the best bets) 

Cheers

Edison 

You’re welcome @Arthur P. ! 

BP is great but we (Canadians) need to intake the message and adapt to our reality. Often the content and message is accurate but the numbers / stats aren’t. 

As long we are aware there’s no harm.

Good luck in your REI endeavours and let me know if I can answer any further question you may have.

Cheers

Edison 

If you’re a REIN member (to get a nice discount) check Parker insurance as they have policies driven to rental properties with several features not provided by others

Or ....check SquareOne Insurance

Cheers

Edison 

@Luc H. approach is the best one.

Sooner or later Interest rates will go up and those buying in cities like Vancouver (GVA) counting on appreciation may be faced with a tough situation. 

Always always buy cash flowing properties and let appreciation become a pleasant surprise over time. 

I would recommend Edmonton, Kamloops or Lake Country 

Good luck 

Edison