All Forum Posts by: Paul Yun

@Aaron Saarela White rock my hometown! Yeah but Prince George is better than investing in PEI or something like that on the East. Better something than nothing always!

Thanks for the lead on Prince George. Will definitely give this town a look.

@Theresa Harris that is super disappointing to hear.. but Vancouver situation is what it is I guess.

I am analyzing a property right now (BRRRR 4plex) that makes sense in terms of cashflow and ROI, but the cap rate is very low at 1.3%. Is this possible or am I making an error in calculation (newbie here)? If it wasn't a calc error, is meeting the cap rate an absolute necessity before going for a deal?

Considering the absurd housing prices in Vancouver, are there still "good" investments here? After much readings and previous forum discussions, 1% rule (even though it's just a yard stick) is definitely impossible to meet. Positive cashflow is considered very difficult. But I would still like to believe that there cannot be ABSOLUTELY nothing available. Before looking long distance, I wanted to make sure I cover all aspects of my hometown for opportunities.

Is anyone able to share any successful investments or any other insights?

@Chris Habets @Ned Carey

Yes CRA up here. We could use better tax shelter like that and 1031 up in here for sure though!

@Theresa Harris Thanks for confirming!

Hi all,

How does capital gains tax apply when selling a property that was your principal residence for only a portion of ownership period? I've been doing some research on this, but wanted to make sure that I've got it right. 

Can you claim tax free for the percentage of time that the property was your principal residence? For example, if you lived there for 2 years out of a 10 year ownership and capital gain at 10 years is $100K, can you claim $20K tax free?

@Julie Toh Thanks Jule! Nice to meet a fellow Vancouverite. Yes I actually found most of these info after posting this in the forums.

@Julie Toh So can this apply before you actually rent out based on projection? For example, can this apply to a first home buyer with plans to house hack?

Hi BiggerPockets,

I am a totally new potential RE investor from Vancouver, hoping to make my first purchase next year.

I was introduced to REI about a month ago, with no previous background on the subject whatsoever, and have since then started reading books and conducting research. So far, it is A LOT of information to take in but I am enjoying every second of the journey.

I set a goal of purchasing my first property (around $500K price point) next year which I plan to house hack; this seemed like a logical strategy to begin with considering the housing price in Vancouver. My main interest from that point on is to carry out the BRRRR method to expand my portfolio.

So few questions to the real estate masters in the forum:

1. Could you please offer some detailed insight as to how/what to look into for a new starter?

2. Are there any Canadian version of something like BiggerPockets? While we are close neighbors, it seems like everything is drastically different b/w Canada and US in terms of REI!

3. Is BRRRR method feasible (or mathematically worth doing) in Vancouver region?

Also if anyone in Vancouver would like to get together and connect, please let me know!

Thank you in advance to everyone - look forward to your replies!