All Forum Posts by: Joel Sherlock

Our latest project was a big undertaking over 5000 sq by the time we were finished the basement renos and nanny suite. It was also the highest price point we have ever worked in on our flip projects. 

Purchase $625,000

Renovations: $147,000

Final Sale Price: $849,400

Lessons Learned: 12/12 Pitch on a roof is incredibly costly to replace, often times roofers won't even want the job. 

Custom Kitchens and bathrooms make or break homes! They can also make or break budgets so chose your trades carefully.

Before:

After:

We could not add much to the view!

Happy to share on of our last deals in BC. 

In Short:

Purchase $425,000

Rehab $68,400

Sale $589,000

After:

Happy to connect @Bethany Friesen I am happy to talk real estate anytime. I will send you a DM.

@Edison ReisCongratulations on the first purchase! Where/what did you end up purchasing?

@Bethany Friesen@Edison ReisHave either of you had any luck in the Kelowna market? I would be interested in connecting. I am currently hunting for door 7 and 8.

@Edison Reis@Daryl N.Were you ever able to find anything? I would love to connect with some like minded investors in the area. The market here has been doing well with the current rental rates and I would love a little extra push to keep building doors in my portfolio. 

@Mike SperoHave you requested the vacancies reports from the last 3 years? How long does it take to fill a vacancy if one does come up on the market. 

The numbers certainly sounds great on the surface, we always like to look at the population demographics and the unemployment rates in the area to ensure they are moving in the right direction for long term growth.

@Jon KlausIf you are looking for a 1031 Exchange expert @Bill Exeteris the man.

Re the contracts and best practices I am happy to connect with you on our strategies. 

Depending on your jurisdiction contracts can sometimes have to have separate sale contracts for each home that are contingent on each other. We have found its always best to connect and educate the lawyers on both sides.

@Daniel ShadleHow was the book? I have heard mixed reviews. 

Re The trade options, we have traded many properties, condos to homes, multi family to commercial. Let me know if I can be of assistance.

@Bill ExeterI would love to talk 1031 Exchanges wtih you also, I have 2 properties in California and am not an expert on the 1031.

Sean, please tell me more about your 1031 Exchange Brokers, I am not able to make the event but would love some additional info. I have 2 properties I am interested in exploring 1031 options on.