All Forum Posts by: Maksu Ize

The right time to buy was yesterday

If you were in my position, what would you do?

Keep in mind, this is Canada

Currently have a condo, comes up for renewal in a few months. The unit has been cashflow negative for its life, but appreciation has outpaced any potential net income 10 fold.

Existing loan 290k (40k is HELOC towards another property)

Low end sale price : 550k

After all expenses cash in pocket low end : 200k

If I keep the property, appreciation is around 7% a year.

If I sell this, I would be able to buy a 12plex inland, for a value of 850k. Should bring in 1k/month conservatively after doing full property calc.

Or 5 homes with a value of 200k each. Should bring in 500$ month at minimum. Maybe even buy some dumps at 100k and try BRR

Appreciation here is much more flat, maybe 2%.

If I don't sell, I'm lined up to use heloc to purchase a 4 Plex or duplex in a few months regardless.

This option results in 100$ cashflow at most.

I'm not a property hunter, in other words, not looking to scale 20 properties a year, current goals are 1 property every 3 years, safe and steady.

Post on Reddit.

Ask people for their 5 best and worst neighborhoods.

You will see repetition from each post

A SFH rents for 5k in grass valley?

Next time someone smokes meth in your house, clean it yourself, move on

Involving the city, police etc will only make your road to financial recovery long

Might as well start reading theonion for my information

Thinking the market is going to crash, because its at the peak. In reality, every year, the market has been at a bottom!

Dealing with first world problems directly with tenants, instead of letting them deal with the strata directly (condos)

Holding off on my first purchase, for years. This alone cost me 200k of unrealized market appreciation.

Placing my units slightly above market rents, while they always got rented, i spent too many hours doing showings every x days.

try 1.5% here in vancouver BC 

You and this entire forum, plus people who simply dont read comments all day, are looking for deals.

That means, you need to be smarter than 99.999% of people on here, to get a deal. 

Cue your creativity, gonna have to get extra creative

Not what your asking, but im in the same scenario, Vancouver, BC, Canada.

Im no longer looking at properties in my hood, it simply does not make sense. No matter what i buy, especially using a 20% heloc down, its all cashflow negative. The appreciation bypasses this, but every year your in the negative cashflow.

Id suggest looking out of state, or xxx miles away where you can buy a unit and be cashflow positive.