All Forum Posts by: Sam Perren

@Stephen Kleyn.  I'm sorry we Canadians say eh so much :). 

Yes Kamloops is a great place to live.  

Kamloops BC is starting to boom.  Tons on jobs (5000 jobs over the next couple years, and a 30,000 job deficit over the next 10 years) and we're seeing increased rents/prices/investment as result.  The residential market is starting to see multiple offers and sales over list prices.   I just bought a 34 suite building with rents at 675/ea that should be $200 higher. We'll double our money there in 3-5 years.  Also bought a 4plex in Oct for $388k, put $40k into it.  Rents for $3800/mo.  

Still possible to buy a fixer upper below $300k and resell for $400k or more. 

Risk/reward ratio. Buy a REIT, it's easy and liquid but you're stuck with 6%. Buy in USA into a flipping model and you could earn 50% or more but now you have currency risk, construction(crooked contractor) risks. Buy in Alberta and you've got the swings of boom and bust....

There are deals everywhere but you need to be(or hire) an area expert.  

That is a problem. I also invite EVERYONE to view the property at the same time. Even people who would never pass my screening process. Many people don't want to make an application unless they see the place first so YouTube videos are handy. A mass showing creates higher demand and forces your good prospects to take action based on scarcity.

Why don't you call the property management company and pretend you were an interested Tenant. Get a feel for how people are treated.

I don't understand why it hasn't been snapped up! Perhaps say you allow pets. You get a bigger deposit, responsible pet owners are better tenants than many without pets, and really opens you up to families. A headline that works well is "finally a place to call home - fur babies too"

Hi Brad. I don't know why there would be any problem posting a link to your ad. If you'd prefer to message me my contact info can be found at www.rentkamloops.com, this forum won't let me post my contact info here.

I get $1477 - $1877 for a 3 bedroom upstairs unit depending on what part of town.

I've got 25 "doors" in Kamloops and have no problems. Tons of interest in anything listed at $1000 or less. Likely the problem is marketing and/or lazy property manager. Send me a link to the rental ad and I can comment further. Cheers!

Posted prematurely.... Kamloops has good, high cash flow, and vibrant construction industry rushing to fill housing demand. We've had 10%+ appreciation for the past 2 years which will likely continue, although we were a "flat market" prior to that since prices doubled in 2006. Recent news article shows us at 1.5% vacancy. The university(TRU) is huge and growing fast, double UBC-O in Kelowna. Hospital to have another $200M expansion in 2020, possible 3rd mine AJAX construction/opening at same time as Kinder Morgan pipeline construction means we'll have a much tighter rental market for the couple of years that takes. 2000 employees taking up short term housing. Just saw an article that right now someone is renting a walk in closet for $300/mo. Currently we have a 10,000 job deficit, with 30,000 projected in near future according to a labour study just released. #1 according to western invest magazine. http://www.westerninvestor.com/news/british-columbia/kamloops-coquitlam-head-list-of-top-towns-for-property-investors-1.2443954 Join the Real Estate Network Training Society Facebook group for updated info on Kamloops, better than me posting thousands of pages of economic data here... Cheers!

Investing in Kamloops with good, high chashflow