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All Forum Posts by: Eric Wilson

Eric Wilson has started 7 posts and replied 40 times.

Post: Hungry Newbie from Kelowna, BC, Canada

Eric WilsonPosted
  • Real Estate Broker
  • Kelowna, BC
  • Posts 40
  • Votes 8
@Edison Reis Ohh wow I’ll have to be careful then. From what I understand each building has a unique rental policy. But I’ll do more research. Thanks for the head up.

Post: Ski Resort Short Term Rental Condo - Big White, BC

Eric WilsonPosted
  • Real Estate Broker
  • Kelowna, BC
  • Posts 40
  • Votes 8

Vacation rental property friends! I'm looking to get my 1st door as a vacation condo to make into a short-term rental at Big White Ski Resort near Kelowna, BC. 

I'd love some advice to watch out for or will help me be successful in my deal. Thanks in advance! 

Post: Real estate and snowmobiling. How I've brought them together.

Eric WilsonPosted
  • Real Estate Broker
  • Kelowna, BC
  • Posts 40
  • Votes 8

Very clean website! I just lived 1.5 hours West of Ottawa where they had snowmobile trails for days! Feedback:

-I don't like how I had to create an account to enter. Users like to play around with a website to first gain its trust before giving their email. 

-Also, I don't like the lime green trail lines. 

Use trailforks.com as a good reference point. They do mountain biking trails all over the world. 

I have so much respect for young entrepreneurs, you got this!

Post: Hungry Newbie from Kelowna, BC, Canada

Eric WilsonPosted
  • Real Estate Broker
  • Kelowna, BC
  • Posts 40
  • Votes 8

Hi Edison, thanks for the advice. After looking in the prices in Kelowna I see what you mean. I got a job at Big White and looking buying to condo there so I can easily take care of it and dip my feet in short term rentals.
Thanks for the heads up and look forward to speaking with you more.    
Originally posted by @Edison Reis:

Welcome @Eric Wilson

I am from Kelowna and started investing 3 years ago and already reached our 3rd property. (A condo in Kelowna across the beach, a Townhome in Rutland and just bought a condo in Victoria)

As mentioned above, prices in Kelowna skyrocketed ever since (I.e. we bought a Townhome for 295K in 2015 and now is valued around 450K) so take your time. Perhaps focus on cash flowing condos as an easier entry or team up with another investor in a JV relationship.

Wishing you a prosperous future and ongoing success 

Edison  

Post: Seeking Advice on Building in Big White, Kelowna, BC

Eric WilsonPosted
  • Real Estate Broker
  • Kelowna, BC
  • Posts 40
  • Votes 8

Hello, I'm looking to invest a vacant property in Big White near Kelowna, BC, Canada that is .10 acres. Ideally I want to build a duplex style Chalet. 

What restrictions will I be faced with and should consider with the property?

Also, if you know contractors that I can connect with to know how much it would cost to build and the style I should build.

I haven't bought my first property yet and appreciate any advice that anyone can offer. 

Post: Hungry Newbie from Kelowna, BC, Canada

Eric WilsonPosted
  • Real Estate Broker
  • Kelowna, BC
  • Posts 40
  • Votes 8
Originally posted by @George Blower:

@Eric Wilson

Welcome to Bigger Pockets.

 Thanks for making me feel welcome George!

Post: Hungry Newbie from Kelowna, BC, Canada

Eric WilsonPosted
  • Real Estate Broker
  • Kelowna, BC
  • Posts 40
  • Votes 8
Originally posted by @Robert Gunther:

@Eric Wilson a true single family house in Kelowna is not going to happen at that price. I just did a search for a stand alone single family, it is technically in Kelowna but most would not really consider it to be in the city. MLS number is 10162840 @ $319,000 asking. New construction 2 bed / 2 bath.

It is possible to get a townhouse in that price range for sure though, so you may want to consider that.

In general the cheaper properties around Kelowna will be in Rutland and on the West side (West Kelowna) will be found in the Glenrosa area.

Check out realtor.ca and you can get a feel for prices.

The city has seen a massive increase in prices since 2016 (double in many cases).  Things have slowed down a lot, days on market are increasing but prices have not really come down yet... but they should start coming down I think (hoping).

Thanks for the input Robert. I'll re-evaluate my strategy moving forward. Until I arrive in the area I don't feel I'll have a great grasp of the market down there and exactly where I'd look to invest. 

This has been a great start for me and I very much appreciate it! 

Post: Hungry Newbie from Kelowna, BC, Canada

Eric WilsonPosted
  • Real Estate Broker
  • Kelowna, BC
  • Posts 40
  • Votes 8
Originally posted by @Jay Hinrichs:

 kind of wish I never sold my home at Okanogan  golf club.. I think I paid 200k CD which at the time was about 140k US

and it was a new construction looking down on the course and a great view across the valley.. 

I also had a seasons pass at Big white.. had a nice year there..  

 Thanks for the input Jay. It's definitely an adventure lovers paradise! 

Post: Hungry Newbie from Kelowna, BC, Canada

Eric WilsonPosted
  • Real Estate Broker
  • Kelowna, BC
  • Posts 40
  • Votes 8

Christina - thanks for welcoming me!

Robert - Yes. I understand the the average price of real estate over there is over $650,000. I'm willing to buy outside the city. If it's unrealistic to have this goal, I'd love some input to get a bare bones starter single family home. 

Post: Hungry Newbie from Kelowna, BC, Canada

Eric WilsonPosted
  • Real Estate Broker
  • Kelowna, BC
  • Posts 40
  • Votes 8

Hello Bigger Pockets Community! My name is Eric Allan Wilson, I'm 26 and moving to Kelowna, BC, Canada at the start of December working for Big White Mountain Resort this year and intend of living there for a few years. I've become obsessed with the idea of using real estate to achieve financial freedom and to fuel my adventure travel lifestyle. 

I currently have ZERO experience. My plan is to build my network over there which includes a  Investor Realtor, Mortgage agent, property manager and contractor.  My experience is in the tourism industry that I'd like to develop in BC. 

My first investment property I'd like a Single-Family home where $300K I'm confident I'll be able to qualify for.  

Fingers crossed that this is the path to financial freedom. I look forward to being apart of such a strong community!