All Forum Posts by: Shahriar K.

Hey Taylor

I am not sure about cap rates for multi-family units, but I am looking at flipping SFH in the lower mainland myself, but with the prices here its not easy, but again thats probably every market these days. I will let you know when I have done my first flip. btw I heard the market in Nanaimo is picking up slowely so that might be a place to look in to since you are from the island.

Thank you Roy for your help.

Thank you Hadi for the great info. I read some info on corporation but just wanted to see what others were doing.

Since I am renting part of my primary residence not sure if having a Corporation will make any difference. but that's why I have to read more info.

Hey everone

As mentioned I do have a rental property that I actually live in the basement myself(saving as much as I can). reading the forums everyone is mentioning having and LLC for the rental property and it makes sense to me. But I was wondering what the canadian guys are using to protect themselves.

also is there any proper steps you can take to save more of your money when you are going to sell your investment property(%50 of the profit is taxable).

thank you

the house looks beautiful. thank you for sharing.

Hello from the west coast. Welcome to BP

in our house we actually live in our basement suit and renting the upstairs out which is bringing additional $800 compared to if I was living in the upper floors and renting the basement. I also charge the tenants larger portion of the utilities since they have larger portion of the house. I made shore the house I was looking for already had a basement suit in my case 1300sqft space and there is also plenty of light and never too cold. I did update the paint and the kitchen to make it nicer but otherwise it was all done.
In my opinion looking for a property that already has a basement suit might be a cheaper way to go than one you have to build. That could be in my area where there are lots of properties with suits though.

Welcome to BP. I like you am learning my way in REI and this is a great place to ask questions and learn.

Thanks Karen for the tips, I will make sure to pay attentions to the details you mentioned. Do you recommend going to any open house in the area I am looking, or just the price points that I am interested.
I just learned that I should factor in the cost of finding the place in to my equation of expenses. Gas money and other small factors can add up.

Hey everyone

Although I have bought 2 properties before for rental, I have never bought a property of flipping. I live in Surrey BC and trying to find a place in one of the cities next to Surrey as the price of houses is cheaper( in the 300,000 range). I am looking at houses with above 1000sqft, 3 bdr, 1 bath min.
I am searching sites:
mls, craigslist, kijiji, vancouver sun, province newspaper, usellahome.com
I am right now tracking properties in a spread sheet (both price that we are looking at buying and want to sell for) too see which ones are selling and in what period.
I am also using bc assessment website to see what aprox. price the surrounding properties are worth and how much they have sold for. Trying to get mls access which my friend who's a Realtor should be able to help me out with.
I am also trying to read and drive through the city itself to get a better feel of the city and trying to find out if the cities population is growing or not. We are looking at going to check out some of the houses that meet our criteria.

This is what I have learned from reading the forums here, but just wondering if I am missing a step or I can do something better.

Thanks in advance