All Forum Posts by: Luc H.

Hi Melanie, i am in a not-to dissimilar situation. I am single and have no kids, so have chosen to instead rent as cheaply as i can (on the north shore) while looking at out-of-BC properties for cash-flow investment. In particular i am looking in edmonton as there market has better fundamentals for this type of investment requirement. I have been watching squamish for quite some time, and for your budget you are priced out of pre-builts. Pre-builts are starting in the mid to high 5's and going north from there. Since the price is already quite inflated on these come the time to move in, you won't be able to rent it for anything close to the mortgage at $100,000 down, and this is assuming the housing market is in as good standing it is current day by time its developed, which is questionable if you look at the market fundamentals for Canada at large. If you are fixed on this area, Squamish, I would contact David Wiebe who has helped me a bunch and is a great agent in the squamish/whistler area. You are actually priced into a condo, specifically in the valleycilffe area, as i have seen nicer units (2-3 bd.) for for around your budget and below. Apparently it is quite common to pay under asking in the valleycliffe market too so you may get a 'deal'. Sorry, cant comment on the other markets you mentioned. Personally, i have seen a TON of listing activity for north vancouver recently and if this continues expect prices to start to follow in the downward trend, though how long this will take to become affordable (or if it ever will) is questionable. 

One last point, another option is to move the cash to something secure and at a 'decent' interest rate. I have my down-payment funds waiting with tangerine at 1.1%. If you don't have a savings account with them already, enjoy a 2% interest rate promotion for the first 6 months then 1.1% after that. Food for thought so you dont feel rushed. 

An under-utilized approach to REI...two off the top of my head are ZER and XER, though have also been watching REI.UN, which offers ~6% return just from dividends alone. Buy it at a historical low-average, and you are looking at a headache free pay-cheque quarterly.

Though ill be honest, I'm also shopping for a duplex in Edmonton. Related to the author's post, the rents do seem low. What area is this in?

Not in new bruns, but i have looked at deals on the east coast for a few weeks and found the historic growth to be almost completely anemic. For reference these were in Halifax-area. Properties dont seem to have any appreciation, even over 6-7 years, though as you mentioned cash flow is there. As such ive looked at areas that have better cash flow and perhaps better growth prospects, such as Edmonton, for example. 

I found the exit strategy a bit harder to justify with Halifax, though obviously i am generalizing and im sure there are areas where opportunity waits. 

Hi all, late to the party, but non-the-less excited to take part. 

2018 goal is 'simple' but potentially the most daunting: to buy my first investment property. Maybe something easier and more short term: get a photo for my account :) 

Since the start of the year i have been voraciously consuming material on real estate with BP podcasts and two books, have been building my network in many Canadian/American areas (thank you BP community), and have started to study a number of different markets (Squamish, Kelowna, Thunder Bay Ontario, and Edmonton) to try and find my best options. I have already sent a number of you messages and look forward to learning more and tracking your progress.