All Forum Posts by: Tanya Braun

Hi Sage,

Good for you for thinking of investing already! 

This post grabbed my attention because I’m also in Vancouver and want to invest in the Okanagan.  I’m also a Real Estate agent.  Personally and professionally I think it’s very important to work with an agent who is very familiar with the area and it’s nuances.  What is completely acceptable and what your agent may suggest anyway is to refer you to a local agent there. He will get a referral fee and will still be involved with your success in finding something and working with someone trust worthy.

Hi Ronaldo,

I am from Vancouver and know how tough it is to get started in this area! It is extremely hard to find cash flowing properties and multiplexes are out of the question for regular working families.

My suggestion would be to start with something for your family to live in for a few years and to build equity. Something that allows rentals and is close to transit so when you do have more equity you can pull it out, buy something else and rent your first place out. Grow your portfolio slowly. In my experience the key is to get into the market. You have to buy into a good building though.

Another option for living in is cooperative housing. It is such a great alternative for families! Many people are not familiar with what it is or think it is low income housing but it isn't. It is affordable housing for anyone. In fact now most require you to have a minimum income. It can take quite a while to get into but there are hundreds of co ops in the lower mainland. We lived in one in False Creek. It was a two bedroom condo and our rent was $1000 a month. Another family who lived there moved into a co operative town house complex in Richmond when we were there. They're everywhere. You could have a bigger place for your growing family and buy an investment property.

We are actually considering moving back to a co op and renting out our townhouse because our experience was so good there and it's such an affordable option. 

Good luck to you and your soon to be family of 4!

Hi Mike,

Welcome to Vancouver!! Congratulations on buying your condo.

If you have any questions about certain areas I would be happy to help. I was a letter carrier for many years in this city so am familiar  with most areas and many buildings.

Good luck in your investing.

For interest sake here's a recent article about the foreign investors heading south.

http://vancouversun.com/business/real-estate/seatt...

Hi Jason,

I'm a local Vancouver realtor and although the market has slowed down quite a bit (in homes sold and on market) the prices have not really dropped. There are still quite a few pockets of the city where units are going in multiple offer bids, with no subjects. It seems like everyone is waiting to see what will happen because our current provincial government keeps threatening to change taxing laws but isn't clear what those will be. I think we won't know for a while.

You have to take the media reports here with a very large grain of salt because they seem to be dying to report a crash. 

Recently a pre sale building in the downtown core (premium, high rise, luxury building that won't be completed until 2019) sold out in a week (after foreign buyer tax was implemented) and some of those units were up as high as $900 per square foot.

Things were going crazy here fast so I think the cooling off period is good but I don't think we'll see any kind of substantial long term drop in the market. Who knows though of course I could be wrong.

Hi Matt,

Welcome to Bigger Pockets! There is so much great information here. I'm also in this crazy city and have a hard time translating some of the info into our market but there are a lot of really knowledgable people in our area on here.  

I've just gotten my Real Estate license, have an investment property (condo in Port Moody which cash flows) and am looking for another one.  Right now I think the best bet for an investment property is in the Lougheed Mall area or New West if you're at all interested in Condos. Port Coquitlam may be ok too. All because of the new development and train lines that are going in.

Good luck! It's a very exciting place to live and invest. Addictive too!

@Mark P.

I would say that if you were in the market a few months ago then now is a great time to buy!  Less competition and a greater chance of negotiating a price.  I also think buyers and sellers alike aren't sure what will happen so if there isn't a huge amount of interest in a unit then you will be in a better position as the buyer if the seller has to sell.

When the HST tax came into effect several years ago there were a few months when there was a pause in the market and then when people realized it wasn't going to have much of an affect on price it picked right back up.  I'm not saying that will happen for sure in Vancouver but I don't see a huge long term drop in prices so if the deal works (and it's in a sound building) in this market then I would say go for it.  Waiting to see if it goes down seems risky to me but I've been in this market for the last 20 years. Rents are increasing rapidly and anything near transit is pretty easy to rent out these days.  Of course everything comes with risk.  We're looking for an investment in this market.

Let me know how it goes!  I'm starting to do more research into the New West and Lougheed Markets so I would love to swap any info with you.

Hi Alex,

Welcome to Bigger Pockets!.  I'm an investor and Realtor in Vancouver and we are also trying to slowly add investment properties to our portfolio. We have just recently started to look for a deal for ourselves and although we would love to buy something in Vancouver, we are finding it really difficult to find something that cash flows.  I think there is better value outside of the city for sure and in some areas the rents are almost as high.  Right now we're looking in the Lougheed Mall area and New Westminster. (I think I may have just posted this on another one of your posts).  We do have a cash flowing condo in Port Moody but we bought that a few years ago.

I have not found anything even close to the 1% rule here but even in the podcasts they say that in some areas that is not possible. 

Good luck to you and please let me know how it goes or if you're finding luck in any other areas.

Tanya

Hi there,

I'm a Realtor in Vancouver and looking for the same thing for myself personally.  The condo/townhouse market prices haven't really dropped yet and I'm finding that the good ones are still going in multiple offers and over asking.  Definitely not as many as before but cash flow is still really hard to find.  Right now we're looking near the Lougheed mall because there is another huge development going in there in the next few years and it's near transit.  I think it's the same developer that is developing at Brentwood Mall and that area has exploded. I also think you may find some cash flowing condos in New Westminster by the Quay. I know lots of renters there and they love it. It's also easy to get anywhere from New West so it would probably be easy to rent.

I don't know where you will still find cash flowing land but I've only been looking into condos and townhouses lately. Good luck and please let me know how it goes!

I think it's okay to leverage your equity if there's no worry about paying all your costs and you buy something in an area that's easy to rent (somewhere close to the sky train).  

Hello and Welcome Christopher,

I am currently taking the Real Estate Licensing course in Vancouver.  I'd be happy to help if you have any questions about the course or schools in Vancouver in general. I've lived here  most of my life so have some local knowledge.

Good luck to you on your move and your education!

Tanya