Hi Taylor lThe  Victoria area is great and appreciates well overtime so as long you cash flow keep going at it.I am in the Okanagan which is good but the prices are climbing too fast and to cash flow is becoming harder.

"It is simple, but it isn't easy" - that lesson cost me lunch and I remember it every day.Sorry, I will climb down off of my soap box now before I REALLY get going on this...

However, I know property prices are climbing all over Seattle, including in CC and Rainier.

When forecasting income in the early period, you are growing it as you project absorption of the vacant units so you'll see a rapid climb of gross income in the beginning which then levels off to just basic rent growth after the units are absorbed.Once you calculate IRR, you are just solving back for the purchase price that delivers the IRR you are seeking. 

The building had a tremendous upside if it could be filled and managed properly but there was a mountain to climb to get there.

That was one of the most interesting things, I found, about the financial crisis: while asset prices, including homes, plummeted, rental rates kept climbing at roughly the same clip as before the crash.

If inventory falls and the number of qualified buyers stays the same, prices will rise.We'll need to watch for the number of back on markets (BOMs) to climb to know if we are having closing issues with unqualified buyers like they claim on the news.

The market is strong and rents are continuing to climb.

And how did you climb out?

prices are not climbing like when oil was 130 a barrel but they are stable now.