Rental Property Investor · Nanaimo BC · Member since 2019 · 5 posts · 0 votes
Hey guys,
Second time posting on BiggerPockets. Was wondering who was out there who is actively on the market on Vancouver Island. I currently own a up/down duplex in Nanaimo and am looking to get in touch with all the other people that are doing deals on the Island. Lets get everyone to comment their current situations and what they feel are good opportunities!
There was (and still is perhaps?) a Nanaimo Real Estate Investors meetup group, which has been passed down to one organizer after another. I haven't been to any of those meetups yet though.
I own an investment property which is house with a suite that I purchased 4 years ago (wow, time flies). I was making a lot of money from online endeavors a couple of years before that, but have just barely been scraping by over the past few years, so do not have the capital or income to be able to purchase another income property these days, although that is very slowly changing and I'm able to start slowly saving again.
It kind of sucks because I have a lot of equity and capital tied up in that property, but can't leverage it to roll onto a larger property, since I wouldn't be given a mortgage at my recent income rates.
I think that, unless you're a slumlord, you can't really cashflow here - at least it's not worth the investment, and that the real gains come from appreciation and equity gain.
I also think that student housing could be a great opportunity - if I had the funds, I'd be really interested in purchasing a house with a lot of bedrooms in the university district and then renting it out to VIU students. A 5-bedroom fully occupied would be $3,250 a month for example.
Thanks for the response Tyler. I would really like to find out where this group of people meet up. We should definitely be getting together as like minded people. Housing is expensive in Nanaimo right now. A niche like renting out rooms to students would be of benefit.
I’ll try to talk to a few of my connections and see if I can track the group down. I’ll keep you posted.
Hey @Jeff Whitworth, I host the meet in Nanaimo. just search real estate investor on meetup and you should be able to find it. We meet the third Monday of each month in Nanaimo at the country grocer on Dufferin at 6:00pm
I have a few investment properties on the island. Port Alberni is a decent place to look for cash flow.
I'm also a realtor, and I help investors find properties that meet their criteria, so if you need help finding properties, feel free to PM me and we can figure out what you are looking for and what is out there.
We actively invest across Vancouver Island. I just bought 3 houses in Duncan this year so far, a few last year and a few in Victoria over the past 3 years! We are currently working on 2-3 other deals through out the island and seem to be finding some luck now that we are able to have more than 48hr subject removals! lol.
I also run a monthly meet up in Victoria, usually about 50-60 of us on a monthly basis get together and chat real estate and have different speakers come in! Would love to have you come check it out!
I have sent you a private DM so we can share details outside of this group! Looking forward to connecting! Cheers Randy Co-Founder TheREINVESTORS