All Forum Posts by: Randy Molland

Hey @Michael Peverelle

I am investing all over Vancouver Island. We have been very successful in finding cash flowing properties, doing renos, and now into some development! 

Also check in with @Jason Ridout for deals in the mid island. As an investor and agent he has some great knowledge. 

 I am always willing to chat, if you want to find me on facebook under my name, thats the best way to connect 👍

Thank you @Jason Ridout and @Theresa Harris for the tag 🙏

Hey Dhruv,

We have purchased many cashflowing properties in Victoria. You need to be able to have capital to do so and is a very patient game. In this market cashflow is found in creativity, not the mls listing ad. 
(@Vincent Baart is very knowledgeable with this) 

Their are markets outside of Victoria that have great cashflow And cheaper price points as well. 

I run a monthly meet up here and it really helps investors get connected to a great team of service providers and other investors so that you can feel confident in chatting deals!

Lets connect via DM and Im happy to hop on a call to share my knowledge. 

Hey @James Robertson,

Based on our portfolio and spread sheets we are seeing typically the .65% rule here on the west coast. 

Not that we bank on it, but we have very strong stable growth and factors that show we will see steady appreciation for years to come. The cash on cash is not massive, about $500-$800/month on an up/down house but we look long term with our holds and were not always looking to retire off 2 properties cashflow, but more back end money when they sell. 

Hey Chris,

Im pretty active on vancouver island. 
you’ll be hard pressed to find a “under priced” home on the market right now. Deals are created and made right now, not found. 

lots of potential in areas though. Im still loving certain pockets in Duncan, Sooke and Nanaimo. 

We also run a monthly meetup here in Victoria where we have a large group of people share about what they are finding up and down the island! 

Happy to hop on a call and chat anytime. Send me a DM or find me on facebook @randymolland

Thanks for the shout out Theresa,
I am down in the south end of the island but spend a lot of time researching all areas of Vancouver Island to understand where we should make the next move. 

We are seeing a lot of growth in areas which has made investing challenging, but also eliminated a lot of "toe dippers". We are getting very creative with our deals and how we are able to find them, but I will say just in our local meet up group alone we have had 15 deals close in 4 months... so there are deals out there, you just have to be creative and think a little different ;) 

Happy to hop on a call with anybody that is looking to explore the island! 
Best place to reach me is on facebook with a DM at Randy Molland. 

Hey Nora, See my response to this post:

Nora Redden

replied 20 days ago

In BC, whats more realistic in regards to the 1% rule?

About 2 years ago we made our own % rule based on what we had in our portfolio. We came to the conclusion that at .65% we would cashflow around $500/month. This was in Victoria, with 3% interest rates and 20% downpayments. We only use this to allow us to decide if a property is worth pursuing and is not a "Golden key" number. but really helps you see what the gross rents are going to need to be on a purchase price.

Hope that gives you something to go on! 
 

hey @Cole Blezard!

Awesome getting you out here on the forum and connecting with other investors!

I have bought many properties ranging from Victoria to Duncan and would love to hop on a call with you and share about my experiences! I have sent you a DM so be sure to check your message box! 

I also host a monthly meet up in Victoria and would love to have you come meet some of the amazing people in our community! Facebook is the easiest to find us. The Reinvestors usually brings up all our events, community page, and anything we have on the go! 

Looking forward to chatting!

Cheers
Randy

Hey Chris,

I recently just bought a cash flowing property on Vancouver Island and have found many others as well. Spent a lot of time understanding the markets here  

Would love to chat with you about it and see how I can help and support. 

Hit me up on Facebook at Randy Molland and I can share what Ive found 👍👍👍👍👍👍

Hey @Jeff Whitworth

We actively invest across Vancouver Island. 
I just bought 3 houses in Duncan this year so far, a few last year and a few in Victoria over the past 3 years! We are currently working on 2-3 other deals through out the island and seem to be finding some luck now that we are able to have more than 48hr subject removals! lol. 

I also run a monthly meet up in Victoria, usually about 50-60 of us on a monthly basis get together and chat real estate and have different speakers come in! Would love to have you come check it out!

I have sent you a private DM so we can share details outside of this group! 
Looking forward to connecting!
Cheers
Randy
Co-Founder
TheREINVESTORS

Welcome @Madison Nobbs!
Sounds like you are on the right track! Super stoked to hear your taking on the next journey of moving outside your comfort zone to get the next property. As investors being able to adjust, pivot, and go where the investing is best is one of keys to success for sure. 

As for Airbnb, I know of a unit in downtown Victoria that will be listed here in the next few weeks that was ran as air bnb and in a transient building. Would love to share the details to you if you are interested. 

As for an accountant, we use an investor specific guy out of Ontario. He has served many of our members inside our community, and would happily pass on his information to set up a consultation. 

Hope to chat with you soon!
Cheers
Randy