All Forum Posts by: Haydn Baggaley

I'd recommend watching some of the webinars bigger pockets runs.  There are 3 a week.  For me the made we aware of a lot of different avenues of real estate investing I never imagined before, and new options for making that a reality.

If time is a big issue for you the best start may be rental properties.  once they are purchased and rented out not a lot of time is needed to manage them, or you can hire a manager to do that work for you.  When you have built up a passive income from rentals and proven to your self and your wife that real estate works for you you can  step back from your career and spend more time building your real estate empire.

Best of luck!

If your interested in an apartment and willing to put in some work and money to improving things over the next couple years I may have an option for you in Abby.

Bakerview apartments has had two bed units sell for between 193K-222K this year and there is currently one listed for 220K.  It's looks well maintained but is mostly original and unrenovated so you should be able to negotiate that down.

The building is currently in the middle of some major work inside and plans to fix up the outside are going well.  There are defiantly some levies in our near future but once that is all said and we are expecting a major increase in sales value.  So this is a good time to buy, live in it for a couple years, and then sell to have a price profit to use as a down payment for something bigger or closer to Vancouver.

Current listing: https://www.realtor.ca/real-es...

If your interested you can talk to a real estate agents for the AGM minutes and copies of the recent engineer reports.  Feel free to ask me as well as I'm on council at this building.

@Kris Mcfarlane Thanks for the Information. I wasn't aware apartments had lower CAP rates. I figure that if the were less profitable buyer interest and purchase price would go down until the price was low enough to attract purchased away from other investments.

Even so I think an apartment building would still have some advantages for me as my first property in Penticton would also be my residence for at least the first few years. So if I got a upper/lower duplex I would use up 1/4 of my income potential on my home.  But with a 16 unit apartment I would only us up 1/16.

Either way I'll have to look at P+Ls to figure out what would work best for me.

@Julie Toh  Thanks Julie.  This site looks very promising.  I've signed up for the webinar tomorrow, and I'm looking forward to that.  Owning my own apartment building is my plan 'A' right now.

Hello

I'm from Abbotsford, BC Canada but plan to move inland to Penticton, BC in the near future. I have two apartments at the moment. One I live in and rent out the room and other is fully rented out.  Both are in the same building of which I'm currently the Strata President.  The building is currently in the process of some major renovations and I plan to sell and move shortly after the renos complete. I am also doing renos on my units I'm doing most of the work my self as I am learning skill which can save me I lot of money down the road.

The money from the sale of my apartments should give me the down payment for a small apartment building in Penticton (a much cheaper city).  If an apartment building is out of my reach I'll go for a quadplex or something of the sort.  Hard to say what the real estate market around here will do right now, so it's hard to estimate how much money I will have to spend.

I think Penticton is a great investment area as it is a popular and quickly growing retirement area for Canadians as well the surronding area has a strong tourism, wine, and natural resources industries.  Abbotsford has better growth potential due to it's proximity to Vancouver but I want to move closer to my aging parents as someone will need to be around to look after them soon.

My goal is to have at least three separate income sources with atleast two of the large enough that I could subsist on one alone protecting my self from disaster should I unexpectedly lose an income source.  The end goal to be to free my self from a regular job making more time for travel, family, hobbies, and other personal projects.

From this site I hope to learn more about investing of all sort but especially stocks.  I would love to meet people that can help me realize my goals, help me learn anything that people on this site have to share, and benefit from their experience.

I hope that I can help other reach there goals, share what I have already learned, and share my experiences.

Thanks