All Forum Posts by: Pawan J.

Hi everyone, we have a lucrative East Vancouver, British Columbia in  project that has permits ready that we are looking to either sell now or get a Hard Money Loan for construction. 

Easy Reno of existing house and add a duplex extension on the rear to then sell two addresses/properties for the price of buying one!

Odlum Drive Vancouver - near Commercial Drive.

We are reputable and many projects under our belts.

If anyone is interested or has any tips on hard money or ppl who could be interested please advise.

Hi Jan B. Depending on what your looking for and where, there are always deals to be had. I invest in both short term house flip deals (with partners) and also long term cash flow rentals in Vancouver. I can tell you that we have been fortunate to be in a great place and there are certainly good investments here. The market supply has declined which is pushing Vancouver housing back into a sellers market once again and prices are on the rise again.

Hi Tommy Kuan welcome to BP. Vancouver is a great place to flip houses. High buy in but high returns when done right. Condos can be profitable but the margin is slim and hence one or two overages or unexpected deals can eat up your profits quickly.

Maintenance and management is low as mentioned budget 5% of rental return minimum. Ask what do they charge each time you change tenants Etc.? these can eat into profit very quickly

Hi Jerold Tan-Franco and welcome to BP. You will need to save a deposit and then some (cushion) no matter what you decide to do). For USA I have heard as high as 40% down then add taxes and travel expenses and a vision should repairs come up like any place. If your renting now maybe buy your first condo/house with as little down and rent out a room/space/garage to ease your payments and allowing you to build another deposit for your next place. Partner with someone to buy property could be an option also. You could by out of town but in BC just have the cushion available.

So many good points. The simple fact is that the city of vancouver is understaffed and bogged down in its own red tape that densifying, rezoning and pushing through building and development permits far quicker is what they should focus on instead of empty condos and allocating staff to door knocking and enforcement. No overseas investor wants to risk damage to their condo or property or worst still end up with a grow-op in it and depreciate their asset. If all they have to show each year when paying their property taxes is show a lease agreement, then I'm sure they will figure out a way using family and friends. They need to focus on the bigger picture of fixing the shortage not simply using this as an excuse to raise revenue.

Welcome everyone to BP. Lower Mainland is a great place to invest and we have done well. As you will learn on BP start with the end goal (10x it!) and work back documenting right down to your daily/weekly/monthly goal to get there. Surrey is an interesting market to invest in. I personally wouldn't invest there myself and prefer other areas in vancouver and lower mainland.

Mike Poulin I'm not quite understanding your figures and dates. Could you elaborate? $60k budget to build or renovate?

I'm hoping vancouver gets with the times and listens to its residents who want Airbnb and uber. The city needs to act faster by expanding its employee numbers and cutting the red tape for property developments and accelerate high density rezoning instead of stopping residents to help pay for their mortgage or earn a few bucks to pay for ever increasing cost of living. I proposed an Infill house on a lot just last week (lot is zoned for 1.45FSR) but the city decided not to allow it stating shadow issues however they are forgetting the large tree already casting a shadow on the neighbours lot. This would have added another rental income property on the market or home for someone. Either way the property will still be redeveloped as a duplex but an additional home in vancouver would have been welcomed in sure. Seems the mayor and the city of vancouver director of planning may not be on the same page

I would say make sure you have all your ducks lined up and know all your costs as a project like that has many costs a newbie wouldn't know from architects to marketing