All Forum Posts by: Kris Bucci

Ya, pretty much our entire area is broken into Strata lots. Mainly the only thing shared are driveways.  It’s all fine, just harder to sell of portions as you need to build the house before creating the Strata.  Not impossible by any means, just. It’s complicated.

We are actually looking at 3-2.5 acres and 1 with the remainder of the land which will eventually have our retirement house.  We plan on keeping the 2nd Strata lot and as mentioned sell off two. 

As for the why, we are doing it that way is based on guidance from the district, who have told us based on the zoning and covenants we are unable to subdivide.  

@Shaidah K. Sari and I are beginning preparations to allow further development on our land near Sooke BC.  We own 12 acres of land (mountainous/forest) that currently has 2 homes on it.  We plan on selling (Strata) 2x2.5 acre lots/homes.  Unfortunately based on the local zoning we can’t sell bare land, so we will need to either build ourselves then sell or finder a buyer, enter into a contract to build and transfer title on completion.  The Strata wound be small and only common property it would be responsible for is the driveway.  We are open to suggestions or requests.

@Jason Payne agree with both Jacob and Jason, most of US books are excellent, especially for the systems, strategies and motivation they provide.  If you are looking for Canadian Specific books, you can check out Don Campbell's books and I would recommend starting with "Real Estate Investing in Canada."  He also has one on Joint Ventures and Tax Tips.

@Tyler Altomare The series of books by Don Campbell are Canadian Specific and are really good at laying out his system for REI known as the ACRE system. I recommend starting with "Real Estate Investing in Canada" and the "Real Estate Joint Ventures" is a another good read. Otherwise yes many of the other books recommended on this site are excellent too and much of the info carries over to Canada. Here's a link to a blog showing the top 10 https://www.biggerpockets.com/renewsblog/2015/11/1...

@Patrick Archer welcome to BP.  I’d recommend staying which city/town you are located in, because is is very region specific. 

I’m in Victoria and for us the online classifieds work the best.  In Victoria our success comes from usedvictoria.com, Craigslist and kijiji in that order.  

But Vancouver for instance, I don’t believe they even have a usedvancouver.

@Jason Ridout first off nice to meet you.  Sari and I will for sure keep in touch and check in with you when we get up island again.  Our kids play a lot of Hockey and Baseball, so we get to Nanaimo and Parksville on a semi regular basis.  As well, I'll check-out your meet-up group and see if we can stop by a meeting sometime.  Likely when it warms up a bit so we don't need to travel the Malahat during the winter nights.

If you don't mind sending me the info on the Port Alberni 6-plex we would love to have a look.  Not sure we are in a position today to jump, but if we like what we see, we could be interested in a deal with you down the road. 

@David Steinbok we are stilling working this too. As mentioned in another post, our goal is to go from 8 to 20 properties this year. (20 by 20) it’s super aggressive and maybe far reaching, but we want to push as far forward as we can, and in my mind if you don’t push yourself outside your comfort zone you won’t reach your potential.

But to answer your question, to get past the finance road block, we are continuing to educate ourselves and continuing to network until we find the right partners. Until we can raise enough knowledge, street Cred and capital to get into the medium to large multi-family where commercial financing makes sense. We need to keep working with JV partners to raise us to that level. So here we are networking :) Good luck in TO... and you self employment as a PM.

@George Holmes I actually attend Randy and Steve’s meet-up regularly, it is a great resource and they are extremely knowledgeable.  I’m in the middle of my PM licence course and am looking at transitioning from the Navy to residential PM this summer.  

@Justin Crawford that’s awesome.  Sari and I have though about Courtney as well. I grew up on the North Island, so I’m pretty familiar with the area.  We should keep in touch, I can see is being interested in partnering as early as this summer on a multi-family up there.  Would likely be looking for a 6-12 door unit if we were going up there.  But you never know, if it makes sense we may be interested in something smaller too.  

If you have any interest in my neck of the woods let me know.

Kris