All Forum Posts by: Pawan J.

If anyone can suggest or connect me with private money lenders in British Columbia Canada or folks ok to lend here that would be great. We are experienced in Flipping and also doing some new construction now.

Kevin Harrison is a home inspector i always use.

@Mike D'Arrigo & @Austin Youmans perfect summaries as this is what my numbers were showing me. A little more difficult in an inflated market but on the bright side worst case I can pull 1/2 of that back out as refinance it still helps for the next one's deposit. In a higher priced market everything helps.

@Scott Schultz if only there was such a thing as $30K houses even within 100km from here but I like your system and seems like it's working great.

@William Hochstedler yes adding value is important. Updating cabinets, carpet, paint vanity etc, could add value (not like a house addition of course) and from what I see now if this reno also mixed with finding a deal to buy well below market value this will help to some extent.

Very reputable power couple - Seen on W-Network.

We are looking for silent investment partners to spilt profits on some very profitable new construction deals in East Vancouver BC Canada lower mainland,

We do all the leg work and construction, we both or just you invest capital and we split the profits!

To date we have always got double digit returns (ROI).

www.pnjpropertygroup.com

@Hai Loc you are correct the money to be made in the Canadian (some call it inflated but I think it is worth every cent) housing market is through building new or renovation / rehab and sell. I invest in Vancouver BC lower mainland and have been for 6years and doing just this and each property sees a nice profit. Yes its a higher buy-in cost but that come with high returns so less deals / year needed.

Due to the high buy-in it only makes sense that we started finding silent investors / partners to join us and split profits. So many people are now sitting on large HELOC finds and doing nothing with it that buying & building or buying and flipping with a rehab makes sense. We recently flipped a couple properties all for a nice profit in Vancouver. It is possible!!

@Roy N.choose for the info yes I've only been able to find break even properties in my market here in the lower mainland of Vancouver BC.

@justin so yes need a big discounted property which is almost impossible not my market and the USD to CAD  Exchange rate means Investing in the US is not favourable...

Hey everyone, I am intrigued with the BRRR strategy!!!!

Background info: It is my understanding here in Vancouver BC Canada that lenders need a min 20% down (without using insurance) to buy a property. If you know of any other way then chime in with ideas!

This being the case when I do the math on a condo rehab (which we have done a few, but always sold them), it seems the renovation needs to increase the property value by enough that it would cover my 20% deposit + the renovation cost + closing costs for me to be able to refinance and doing it all again without dipping back into my pocket for the next property.... Is my math correct.

High level apartment / Condo e.g.:

Purchase Price: $130K

Closing costs: $3500 (out of pocket)

20% deposit: $29K (out of pocket) 

Renovation cost: $15K

________________________________

Loan amount: $130K (purchase price) + $15K (reno cost) = $145K

ARV = $160K

Who's good at math?

Seems that even if I refinance after a year, and 9months of that was tenanted at $900/mnth, $200 HOA/mnth (presume no repair costs) (50% of $474 loan payment is a principal payment of the loan = $2133 total principal paid by tenant) and presuming no increase in condo value. This condo wouldnt BRRR so i could get all my equity back to reuse and repeat?? 

How would you make this a BRRR? 

Check images below for images of loan calcs, interest paid and repayments.

Hi all, what a great discussion.

@Bojan Kovacevic Hope you got into the market a year ago as vancouver is hot and has risen once again.

We also get in and out of property investments in short timeframes 5-7mnth for a complete Reno and 8-12 for a new build which is less risky than long term but coming form Sydney Australia I have seen what is happening in Vancouver all before and I can tell you that my soeculation is this is no bubble but in fact a city adjusting to the rest of the top cities and their house prices around the world. It will continue to go up and then flatten, who knows maybe a 5% correction if a change for foreign investors or global economic markets occur but then it will go up again and again. Over the next twenty years it will never go below today's price just like twenty years ago. 

hi @Nathan P. nice to see fellow BC folks.

BC is a great place for real estate which is seeing another spike now and making money. High outlay but high returns!

hi @Matthew McLean, @Greg Rulfs fellow Aussie here and active realestate investor here is Vancouver proper doing great JV deals and getting great returns. Yes it is a high buy-in but high returns also, hence why I partner and profit share with investors and use Commerical and private money to make deals happen.

@Shahriar K. I will try and make it to the next meetup once our TV show Game of Homes (plug) is done as I belive the last one fell also on a Tuesday night when the show airs.