All Forum Posts by: Eric Wilson

@Steve Vaughan

Thanks for the advice. I was leaning that way but really wanted a cheap by. I’ll probably take your advice.

Thank you!

Hello. I’m looking into buying a 1/4 of a fourplex unit in Kelowna, BC. It’s a foreclosure in rough condition. It’s located in one of the roughest areas in town where tenants are usually on social assistance. Not that Kelowna is that bad of a city, like there’s no murders here or stabbings.

The price is nearly 1/2 price compared to anything else outside the neighbourhood and the whole city. It cash flows pretty well. It should be about 20 years before the neighbourhood turns around.

I need advice on if this is a good deal or to stay away from it.

Eric Wilson.

@Jay Hinrichs Thanks for the input Jay. It’s at Big White, your favourite place haha. I’ll keep your input in mind.

@Peter Cudmore I’ve been able to get a mortgage through my agent but it’s a slippery slope. I feel your average vacation home buyer won’t be able to get one a mortgage and have been told they’ll go bigger and better if they are going to finance it. It’s at Big White which is a very big resort. 18,000 accommodation size for the village.

Hello all! I’m still working In getting my first deal. I’m looking to buy a condo vacation all rental in BC Canada at a popular ski resort. The cash flow meets my standards. The issue is that it’s under 500 square ft which means it’s hard to get a loan for. I want to hold onto it for a few years because I’m more interested in cash flow. However, it’s been in the market for 2 years because it’s so hard to finance from a bank making me nervous to buy it because I might not be able to sell it or will take years to sell. Does anyone have advice for me here? Thanks in advance!

@Eric Telese Hi Eric. Your vision is very similar to my vision, execpt I‘d like to own in adventure sport paradises. I dont have any experience in this though. I’m currently a Ski Instructor at Big White, Kelowna, BC, Canada and feel there is a lot of potential here. They just introduced downhill biking to change the tourism from 5 months to 8 months. I don’t know if this is up your alley but let’s get in touch and if you’re interested we can get talking. Best of luck!

@Joe Garvin Hey Joe! Love what you’ve done here. I’m been in the resort tourism industry for 2 years now. What you’ve done hear is exactly what I’m trying to do with multiple locations. One in BC Canada the other in California. Even though it’s a beach resort is occupancy still high in the winter season when it’s less popular? I live at Big White Ski Resort in Kelowna BC, Canada. 5 months of winter and 3 months of summer tourism has just been added because they’ve introduced downhill biking. I don’t believe the market reflects the new prices. I’d love to talk about some of your real estate goals.

@Kieran Tether Thanks for the heads up Kieran. They haven’t been too bad but I’m looking at smaller units. Like 550 square ft.

@Zack Kahl Will do Zack! What part?

@Brandon L. Thank you for the very helpful introduction! I look forward to being a part of the community.