All Forum Posts by: Ryan Magdanz

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Narrowed my search down to a few spots in British Columbia. Wondering if anyone has invested in Port Alberni? it seems to be growing and getting safer and the south part of town has some nicer neighbourhoods and homes. Vacancy rate is around 1.5%.

Let me break down this analysis:

Home is listed at $254K and houses around it are listed for $369k and $420k. It's only 2 Bed, 1 Bath which makes me think I could make it a 3 + 2 and greatly increase the value (conservative estimating to $350K). The styling is outdated and basement is unfinished. 

I tried to make a conservative analysis on this place, assuming I can get it 15k under asking as its been listed for 45 days. Any feedback is appreciated!

Thanks for the feedback guys, I'm looking for my first property and I'm probably way less conservative than I should be. I re-did the analysis with 5% loan, capx, management, repairs, etc. and looks like it would cashflow at $150/m (assuming I can get the rent I think I can which is my worry). The vacancy rate is very low in British Columbia so it's hard to even find comparable homes for rent besides a few in the $2800/m range. I understand this deal probably doesn't make sense at that cash flow. 

I'm making an assumption that I can get this house 44K below asking - I'm doing my analysis based on this on all homes (10% discount) as it's expensive up here and the only way to get a cash flowing deal is to buy into one by making lots of offers). 

The 50K value increase is accounting for the discount I would get on purchase and the landscaping and minor changes we could do to increase the value above the current asking price. Not sure if thats possible or not!

I'm just learning and have looked all over my province. Super expensive here so keep my eyes open for something to pop up!

Appreciate the feedback!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

This seems like an amazing deal. Not including vacancy and repairs as I would save ever single dollar for my properties. Anyone think I'm missing something? Similar places going for $250/m rent.

Thanks Theresa,

I've analyzed about 50 homes so have learned a lot from that. Hopefully going to make the first purchase soon! Not going to touch apartments, but found some single families in places with very low vacancy rates on Vancouver Island. Wish me luck!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hey Vancouver Island investors (or anyone who has experience with de-registered homes. I think I've found a great deal in Ladysmith BC. Homes near this one go for closer to $300K and the home is de-registered. Thinking it's a good BRRR opportunity. Any opinions are appreciated! (Calculations are as conservative as I could be, assuming tenant pays utilities)

Hi guys! I'm new to real estate investing - just bought a condo the old fashion way and then stumbled upon BP; now realizing that I want to get into using brrrr. I live in Surrey BC, but I'm looking to invest in either Chilliwack, hope, or Princeton (each further from Vancouver and cheaper). Anyone with experience here? Wondering if buying a single family in Chilliwack for $550K is too crazy for a first deal - or I can buy a house in hope for half of that. Also curious if people buy and rent single apartments. Anyways, I'm here to listen and learn. Glad to be here!