If I asked you: “Do you think the market is going up or down” you would probably say it’s going down. Why is that? Well, the media and everyone you speak to seems to take note when it’s unfavourable. What if I told you that there are many parts of the Lower Mainland that saw an INCREASE IN PRICE last month? You would be a bit surprised, since nobody is mentioning this, right?
Instead of me giving a very dry market report on what is decreasing, I want this to be fun and show optimism of what is INCREASING! Take note that most areas in the Fraser Valley have increased.
ARE YOU LOOKING FOR A CONDO TO PURCHASE? WHY ARE YOU WAITING?
I have been seeing countless brand-new condos that were purchased by investors a few years ago as a presale. The construction has completed and now these investors need to sell because they can’t qualify for the mortgage. As the market has been softening (up to now), these investors are selling brand new 2 bedroom units for less than $400,000! For those of you that want me to run through what presales and assignments are, please email me and I’ll explain further!
Rental amounts are running at about $1800/month (sometimes higher), if you wanted to rent it out instead of using it as a primary residence.
HOT SPOTS FOR REAL ESTATE INVESTMENTS
Each month I feature hot spots for real estate opportunities. For those of you that don’t know where Kimberley is, it’s in the Kootenays next to Cranbrook. In fact it’s only a 20 minute drive from Cranbrook, so many residents of Kimberley work in Cranbrook. Cranbrook was actually in the spotlight by Canadian Real Estate Wealth magazine as one of the best investment places in BC. The rental demand is huge and wherever there is a surge of demand, there are high rental rates. I found a 4plex for sale in Kimberley that is fully rented and generating $3,900/month. Take a look at the Proforma to see the cash flow that would pour in each month.
Email me to request the MLS Listing for the 4plex in Kimberley firstname.lastname@example.org
Looking to own an investment property 5 minutes from the waterfront in Nanaimo? With Nanaimo’s redevelopment plans of their waterfront and talk about adding a highspeed ferry from Downtown Nanaimo to Downtown Vancouver, this could be a great opportunity!