All Forum Posts by: Kris Bucci

The weather is terrible!!! Sorry from Victoria so I am biased.  No I lived in Halifax for 5 years and have been back many times. If you can get into student houseing out there I think you would be golden.   The city has a lot going for it, it’s relatively small for having 3 major universities, major hospital, navy base and there is a crazy amount of commercial infrastructure going into Halifax, so there is for sure money there.

if you are ever looking out west, for the 600k entry level we are getting 1000–1500 a month in CF. Not a crazy amazing Cash on Cash ROI, but the properties are rock solid on their appreciation and annual increase in rental prices. Feel free to send me a message if you want to chat further.

good luck.. and welcome to BP

Tough call and look forward to further posts on this.  I’d say if you are bank friendly (Big problem today in Canada) then use financing whenever you can... keep going until you can’t get past one of the many new rules... then use cash... if your still keen and rocking it, then it’s time to use other people’s money!!! Joint Ventures!!! 

Highly recommend electric baseboard, as long as you have tenants paying utilities. Especially as you mentioned your rentals are on Vancouver Island.... we rarely drop below freezing... ( had our first snow fall of the year today, maybe 1/4’inch) 😛

Anyways, baseboard gives them control over their own heat.  They can heat only the rooms they want and most importantly, maintenance cost for you is minimal.

@Madison Nobbs welcome to the Forum. Sari and I currently live and invest in the Westshore area of Victoria. (Langford/Sooke). We have have found a niche of bulletproof investments that are high cash flowing with great long term returns.

Feel free to touch base with us to discuss the properties we invest in, the Victoria area or just Real Estate in general. We also have numerous contacts in all sectors here in Victoria if you are looking for anything in particular.

Send me a PM if want to connect.

Kris and Sari

@Alex Butz My wife and I currently live and invest in Langford and would be more than happy to share what we know and have learned.  Currently we are focused on up and down duplexes as they make the most sense for us and the partners we worked with or are speaking with.  If condos is your preferred investment method as you say, then I would highly recommended Cheri Crause and her team at The Greater Victoria Property Group.  Her and her team are not only Realtors, but they are investors and developers focusing specifically on the langford area.   They are an awesome group, that know all about pre-sales and will be able to advise you one what to look for and stay away from.

If you simply want to ask questions about the area or are open to other investment options, feel free to contact me directly.  We can share contact information through a private message.

@Brian Erickson As Teresa mentioned there may be a tax implication depending on the buyers residence, but we would be happy to discuss options with them.  If prospects in our area don’t make sense, we have contacts around BC we can forward them to.  For back ground on us, they can check out our webpage through my profile www-uncoveredoasis-com or send us a PM

@Sara Lamont First off welcome to BP and congrats on being one of us who has the amazing opportunity to call Vancouver Island home.

Regarding cash flowing properties, we have found a suite spot of mainly up/down duplexes that Cash Flow (after everything paid and money set aside for maintenance) between 1200-1500 per month.

Purchase price for these properties are anywhere between 450-650k and range from small nice neighbourhoods to executive homes.

Feel free to send us and message if this may interest you or you simply want to chat further, or you can cheque out our webpage through our profile to learn more about us and what we have been doing.

Kris and Sari

Highly recommend these guys!! If your new or interested in Real Estate Investing make sure to stop by one of their meet-ups.  

@Adam Narbon sorry I will have to disagree with you.  I don’t see a negative CF ever being a good idea.  It’s not scalable... What happens if you buy another property like that.. now you are in the hole $1000 a month.

Sure your net worth would be higher in the end, but what happens if you lose your job, get injured sick etc... you now likely lose that property.  Or just the simple fact that buying that house lessons your quality of life today!! 

There is no reason to buy a CF negative property.  If it means looking outside your immediate area then do so... 

my two cent recommendation.

@Jan Walczak I can’t speak for the Toronto market, but you are correct that based on using a Heloc for DP and a conventional mortgage you need to take into account two sets of lending payment in your calculations. 

In my are (Victoria BC) you are able to cash flow, but you pretty much need a small multi-family (duplex) or more to make it work.  Example 

-Purchase price of about 600k which required a DP of 150k (3 bed up/2 bed down duplex)

- Rent for two units $2500 + $1500 = $4000

- Operating expenses $800 (likely less) 

Depending on your heloc interest rate let’s say your heloc payment is $600

Mortgage payment $2200

Gives you about $400 in positive cash flow.  Do it on your own, or with a working partner you can bring the Operating expenses down a few hundred $ as well.  

If you can reduce the Heloc payment with own capital etc you increase your cash flow even more, but remember if you are using 100% Heloc you are basically buying this house with none of your own money, so your ROI is infinite.