All Forum Posts by: Kris Bucci

Where do I start 😁 I think the biggest big picture goals I have for 2022 is two fold.. 

1st to take better care of myself and family, both in health, fitness and quality time.

2nd is to hire, delegate and create systems to make the 1st goal a reality.

In 2021 we worked are butt off to set ourselves up to explode and be extremely successful in REI. In 2022, those opportunities will start paying dividends, but the key is to ensure we are set up to enjoy those dividends with those you care about.

Hey @Erika Holmes and @Ockert Kruger nice to meet you both. We’ve been successful in finding cash flowing properties in the Westshore area of Victoria.  We’ve had to adjust our strategies over the past few years, but have multiple properties cash flowing well over $1,000 per month that were either purchased or built in the $600-$700k range.  The key is adjusting your strategy to the location and market. We started with purchasing turn key suited homes, but due to market shifts and our comfort level we moved to building the same style homes as purpose built rentals…. We’ve since moved on to focus on larger scale developments and luxury airbnbs, but our roots are in the 3 bed up/2bed down suited homes. 

Alway happy to connect and share ideas..

Thanks everyone for your interest... as @Jason Ridout mentioned there are already a few monthly zoom meetups on the island. Jason has one and @Randy Molland hosts another great meet up out of Victoria.

Not wanting to necessarily compete with those, but still happy to host a small zoom meeting to connect with all of you.

Let’s aim for Saturday 16 Jan @ 10am. I’ll post a zoom meet up link on this site later in the week.

Looking to setup a local BP meetup for investors on Vancouver Island.

Whether your new to investing or have a large portfolio, if your looking for another way to connect virtually let me know.

Once I have enough interest I’ll set up a date and time for our first meeting. No agenda... just a way to connect and to expand our circles.

Looking forward to hearing from you.

@Matthew Devine We used a private lender to purchase the two lots, are currently self funding the builds up to lock up at which point bank will come in and pay private lender off and fund remaining build costs.  Upon completion we will refinance and hopefully pull as much of our initial investment out as possible. 

@Kevin Miller  I just got your email and will reply there too... but yes it is too bad we missed you this past week.  Sari was born in Sooke and has lived there for most of her life, except her few stints in Winnipeg and Vancouver.  I grew up on the North Island in Port Alice and lived in Halifax for 5 yrs after Joining the Navy.  I since moved back to Sooke in 2001.  

I don't have my GC licence yet, but should have it around xmas.  For my current projects I am working with a GC, but I am doing all hte GC work he's just covering it with his licence and warranty.  He obviously check in on the work and I'm using trades he trusts, but I don't pay the standard GC rates.

@Bryan Waller Price differential is due to these being brand new builds. Buy a lot for 200k, build the house for 350-400k. Houses with suites are selling for 750k+ right now. Lot prices haven't quite caught up to market value of house yet... but they are increasing which is why we are building 3 right now and looking for other JV money partners to build 4,5,6 etc 😄

I’ll throw a twist at you.  Buy Build Rent Refinance Repeat.

Buy land, build a purpose built rental, rent it out, refinance and repeat.  

Bryce, Thanks for reaching out and would for sure love to meet. Big question I have is when you say you want to get into the BRRR strategy over here, are you looking at doing the work yourself, managing the work yourself or are you looking to create a relationship with a working partner who will take care of the work on the island. Both are great strategies and I can for sure help with either.

If you are looking for a working partner I can provide one of 2 things:

- We have modified the BRRR strategy into Buy Build Rent Refinance Repeat, so its BBRRR... Our model offers a purpose built brand new rental property that can give one of 2 options (or something in the middle).  Leaving all or most of your DP in the property and getting amazing cash flow (aprox $1500) or refinance all or most of your money out and still be getting decent Cash flow ($400-$500).  If this is something that interests you, let me know and I can send you more info, including an example opportunity.

- If you are looking to do traditional BRRR, I can introduce you to some friends who are doing this strategy in the Duncan area.

If you are looking to more go on your own, I can definitely offer assistance too... My wife is an investor focused realtor who can help locate a property and depending on what you are looking for I have a network of investors and tradesman, that can assist you in finding the team you need over here to both renovate and manage the property.

Either way, I would love to chat further and yes meet in person.  Let me know your thoughts on a desired path and we can go from there.  You can PM me if you prefer.

Talk Soon,

Kris