Blog

Diaries of a BC Landlord: Part 1

I have chosen to focus my investments on owning rental properties in British Columbia because to me, it’s what I felt the most comfortable doing. I have always had a general interest in real estate and try to read and study everything real estate related, so focusing on real estate investments just felt like a more natural investment channel for me. More so than heavily investing in indexed funds.

“There is nothing wrong with a ‘know nothing’ investor who realizes it. The problem is when you are a ‘know nothing’ investor but you think you know something.”

– Warren Buffett

You can say that I fell into real estate investing 10 years ago, when I bought an apartment and then my family rented it from me. A few years later, my family moved out and I had my first arm’s length tenant move-in. And then another tenant.

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3 Local Properties Explained: Cash Flow & Equity

MARKET HIGHLIGHTS
 What an exciting year we have ahead of us! Based on the current market trends in BC, the Chief Economists with Central 1 have predicted the following for BC’s real estate:

Fraser Valley and Greater Vancouver:
In BC, both the Fraser Valley and Greater Vancouver areas were hit the hardest with the 2018 and 2019 real estate slow down. You will even see that your property tax assessment has most likely dropped as well. At the end of 2019, we saw strong sales and a rebound in the Lower Mainland. With signs of both the Fraser Valley and Greater Vancouver currently being in a ‘sellers market’ (this means that a large number of active listings for sale are being sold each month), economists are predicting that these areas will continue to see rising price trends in 2020, especially in East Vancouver and Vancouver West (Downtown, West side of Vancouver, etc).

Okanagan and Interior
Sales rose 9.5% in 2019 for the Okanagan. Economists are stating that much of the Interior’s house pricing is at or near balanced. 

Vancouver Island
Vancouver Island is still going strong, with all areas up by as much as 8%, except for Parksville, which was the only city to see a dip by 1%. Campbell River took the lead with the highest price increase over the past year. 

Victoria
Victoria’s real estate board stated that the city has low inventory levels. Those low inventory levels are quickly being sold, as buyers have been waiting on the sidelines to purchase properties. They have seen multiple offer situations, due to the low supply, and are expecting home prices to go up in 2020. 

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Financial Literacy in Real Estate and Saying Goodbye To Your 9-5 Job

The Holiday season is busy for everyone with holiday shopping, get-togethers for ‘Christmas Cheer’, and touching base with friends and family that haven’t made it into your schedule for the other 11 months of the year. 

Every holiday season, Phil and I visit someone that I call ‘my mentor’ and his family. He used to run his own company and was one of many that had faith in me to help him run that company with him. As time went on, I moved on and he eventually ‘sold’ out of the company. He is a successful business guru and someone that has always offered very sound business and life advice. Heck, he is even the reason why we grew our portfolio as fast as we did, by telling us that we needed to keep our money in the real estate market. 

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Court Ordered Sales and Fall Market in Full Swing

MARKET HIGHLIGHTS
 It’s happening!… Another month of increased buyer activity. The Real Estate Board of Greater Vancouver has reported that October’s sales were almost 10% above the 10-year October sales average!

What does this mean? We have seen inventory move more quickly than it has been moving, and we actually are in a seller’s market for condos and townhomes in Metro Vancouver. I know that seems a bit surreal at this point because it has been constant talk of a declining market for quite some time, but we have sold more than 20% of the inventory on the market, for both condos and townhomes. When monthly sales hit over 20%, then the Real Estate statisticians announce we’re in a seller’s market.

If you’re interested in the stats for a particular area, please reach out! I’d be happy to provide further info.

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Best Cities to Buy a 1 or 2 Bedroom Home in BC and Rent It Out

I think that when someone pictures a ‘Real Estate Investor’, they think of older generations, perhaps paying cash for an apartment building.

Did you know that surprisingly 90% of my investor clients are in their 30s and 40s and are purchasing either an apartment unit to hold and resell, such as a presale, or they are looking for a detached home that has the ability to add a secondary suite, and rent out both the main floor and basement suite. I absolutely love to see younger generations getting into real estate investing!

Every client has their own unique goals and situation, so every one of them has their own reasoning for whichever route they take with investing, whether it be short-term investing, long-term investing, or mixed.

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Kelowna Investments and BC’s 1st Solar Power Community

Since this time last year, we have seen sales volume INCREASE! In Metro Vancouver, there were 137 more detached homes sold last month compared to the year prior, 91 more condos, and 54 more townhomes. Great news right?!

Well, yes and no. Depends on which side of the fence you’re on – a seller or a buyer.

Benchmark prices are still down. Buyers have finally started putting in their offers as they realize that they have a lot of opportunity with lower interest rates and can negotiate hard against sellers. Sellers are still facing a difficult time getting their ask price, or selling their home at all.

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Rent near your work, own where you can afford


It’s very common to hear many people in Southern BC complain about the high real estate prices. But, if you are in the real estate market, the high real estate prices have increased your net worth and you now have a ton of equity sitting in your house. Many homeowners have seen huge appreciation in their home’s value, more than they would have ever been able to save on their own from the income that they earn.  Continue reading

NEWS UPDATE!! Experience the Difference…

I’m excited to announce that I have rebranded as a Flat Rate Realtor in BC!

What does this mean?
It means you or anyone in British Columbia that owns a home, land, or recreation property can now SAVE a FORTUNE on real estate fees when you sell with me. There’s no catch! I also offer my clients OPTIONS to choose from when they list their home for sale. Who doesn’t love having options?!

Why?

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