All Forum Posts by: Saskia Battersby

@Cody Erwin it depends on the numbers. How much is the heloc for? Is it enough to put 20% down on another property in your area? Will you qualify for an additional mortgage? If yes I would do that and then use the cash flow from your second property to save up to add the suite in your current. If not put in the suite. It will raise the value of your home and allow you to ultimately borrow more. Keep the renovation costs as low as possible and you can have the suite quickly pay off the borrowed amount and then have a larger heloc. Good luck!

I am looking for a realtor who can help me find homes to flip and investment properties in Kelowna, BC, Canada. I specifically want someone who understands BRRR and has experience with investing themselves. I am new to REI so I would like to work with someone who I can learn from.

I am looking to do my first flip. I have made a few offers on older, outdated properties I found on MLS. They have mostly been part of an estate sale and I have felt they were over priced for the amount of work to update so have made low offers and they keep getting rejected. I am starting to wonder if I am out of touch with what I am expecting get these homes for. Anyone have experience in Kelowna they can share?

I am looking for a 3+ bed, close to 2000 sqft in either south Rutland or Glenmore. I want one that is not on a busy road, has two levels with suite potential. I am hoping to get it for $525k spend 100k to update, add suite, etc (including carrying and sales fees) and sell for $650. So a profit around $25k. Depending on the ARV, the purchase price can vary slightly but this is the spread I am looking for.

My issue is my offers keep getting rejected. Should I not be looking at MLS and working with a realtor to find deals? Are there other areas I should look in? Thoughts?

Thanks in advance.

Saskia

@Sean Nelson there is a wholesale market here? I am new and am looking to flip. When I listen to the BP podcast I am not clear what constructs are US only. I assumed wholesale properties were. How do I find out more about this? I live in Kelowna and plan to flip here.