All Forum Posts by: Michelle C.

You have a choice, sell it or hold it. If holding it causes you to lose money month after month, but appreciates nicely when you sell a few years from now, you could end up making money. However, this is more commonly known as speculating. Gambling is another term for it. Most buy and hold-ers don’t do this.

Your other option is to sell, get out for a bit of a profit, and re-invest into other options (single family, multifamily, apt buildings, etc). This is more appropriate for a buy and hold strategy. You can look into using a 1031 exchange to defer tax on your capital gains.

I highly recommend the first 100 or so Bigger Pockets podcasts for ideas on possibilities for buy and hold, as well as getting a feel for what different people are doing. There are big investors and small investors all giving their stories and it’s helpful for perspective.

Hey Jonathan thanks for the great advice! Yeah, I am more in this for buy and hold. You guys are lucky in the states with the 1031 exchange and saving taxes with LLCs. I will definitely take your recommendations to listen to more BP podcasts to get more perspectives.

0 Votes

Hi everyone, I am new to real estate and this form. Seeing so much great advice and information here, I was wondering if anyone would be willing to share some wisdom on my situations:

I live in Vancouver and purchased my first rental property (a one-bedroom condo) last year.
Currently the rent barely breaks even but the price has appreciated quite a bit.
Should I have the condo sold today, I would have about $260k on hand ($180k down pay + $80k profit after exp.)

After listening to some podcasts and doing research, I decide my main goal is to buy and hold for the passive cash flow. Therefore, my condo might not be a good investment and the Greater Vancouver Area is a tough place for my investment goal. Now I want to keep going but I am unsure about my next step. Should I sell my condo and invest in a different market? If yes, where should I go? I am much more comfortable with the Canadian market than the US, given my lack of experience.

Any piece of advice would be appreciate!!

0 Votes

All Forum Posts by: Michelle C.

Michelle C. has started 1 posts and replied 2 times.

Post: New investor needs some advice

Post: New investor needs some advice