All Forum Posts by: Jerold Tan-Franco

Hello fellow BP members! 

My business partner and I are here in calgary for the next 2 days from vancouver to start developing our team on the ground. We would love to meet up with other investors in the area to chat a little bit about the local market. We plan to use the BRRRR method for long term rentals. If anyone is interested please dont hesitate to send me a message, lunch will be on us! thanks

-Jerold Tan-Franco

Hi @Heather Matthias and @Patrick Kendrick! thanks for the replies, I really appreciate both of you offering to helping me out. I'll send private messages and I guess we'll go from there. 

Hi guys, 

So as the title says, I'm a Canadian from Vancouver BC eager to get into the real estate game. However, Vancouver is a very hard place to start with the average detached house costing 1 million dollars (750k USD). My only real option is to look elsewhere, so I did some research and I really like the spokane area. It also helps that we share a border, so its not too far from home. 

Of course long distance investing has its own problems, but hopefully you guys can help me out a bit with that. My plan is to be a buy and hold investor, focusing on multi family homes in the 100k range. I've been looking on the MLS and that price range seems reasonable around spokane, but I know nothing about the neighborhoods that im looking at so I might be wrong. Thats where I'm hoping to get some expertise.

What neighborhoods should I focus on, and which should I avoid? 

Do you have any investor friendly realtors you could suggest? 

can you recommend good property managers and contractors?

how about property scouts? or anyone wholesaling multi-family houses in the area?

I really need some "boots on the ground" friends that would be willing to work with a long distance investor. I do plan to make many trips to Washington to see the areas, and I hope I can get in on some of the local meetups. However for right now, I'm just trying to learn all I can, so please feel free to unload any piece of advice you can offer on me. Thanks in advance! 

leaning towards going out of province now. Any Canadians doing the same? 

Hi guys, 

this is my first question post here on biggerpockets, I'm just looking for a little guidance on where to start. I want to get into buy and hold investing, but living in Vancouver the prices just are not plausible for me. I'm a young guy (20) and I make good enough money with my business, but still not nearly enough to get into my local market. I've been doing a lot of research and I really wanted to start by house hacking, but even with 5% down I'm looking at 35k-50k for any house with a basement, let alone a duplex... 

So that leaves me with buying out of province or even out of country into the states. However as a newbie already scared about making his first deal, starting thousands of kilometres away (or miles for my American friends 😊) doubles my concern, and out of country triples it. 

From where I stand now I only see 3 options. 

1. Save that 35k to get into a 700k house here in BC.

2. Save enough to get a 20% dp for an investment property out of province/country, and focus on finding a system that make it easier. (That's another concern. Finding a property management team will really cut down profit when I only have 1 small property) 

3. Start in a very rural area or maybe a poor neighborhood here in BC. Somewhere relatively close.

I really am not sure what to do at this point. I'm feeling somewhat discouraged, but I still have a burning desire to get into real estate investing. I know it's what I want to do, I just need some guidance on how to get in. Anything helps, thanks in advance guys! 

Thanks @Will Flores and @Brett Snodgrass, I was pleasantly surprised when I realized that the podcast is free. I have a lot of binge listening to do, also just ordered the book on rental property. Thanks again for welcoming me to the forums guys, and good luck with finding that first deal Will! 

Hi @Tommy Kuan, Im a newbie from Vancouver too! just joined the site 2 days ago, I'm glad to see some locals around here. 

Hi guys, 

20 year old kid here, brand new to the world of investing. Rich dad poor dad sucked me in a year ago, since then I've been trying to learn all I can. I'm a small business owner in the Vancouver area, (Burnaby to be exact) and I'm planning to get into buy and hold rentals. I just found this website last week and I gotta say it's just a goldmine of information! Really love all the blogs and the community seems really positive/friendly. Im looking forward to making some friends in the business, I have a lot to learn haha.