Investing Real Estate in British Columbia Canada

Surrey, Canada
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Investing Real Estate in British Columbia Canada

Shaun Matthew Vicencio
Member since 2025 · 5 posts · 0 votes

Hey everyone! I’m new to real estate investing and currently learning as much as I can. I’m based here in BC, and as you probably know, property prices are really high right now.

I’ve been reading BRRRR by David Greene and planning to follow the strategy. My initial plan is:
✅ 75% funding from a private lender (I already found one)
✅ 25% from a joint venture partner (still looking, but I have some potential candidates)

Right now, I’m trying to figure out:
🔍 Where to find good real estate deals (especially distressed properties)
👷‍♂️ Where to find a reliable contractor
💭 Whether I should flip first to build more capital or go straight into BRRRR

I’m really motivated to take the risk and get started, but I also want to learn from others who’ve been in this space, especially here in BC.

If you’re an investor, realtor, contractor, or just someone who’s been through this journey, I’d love to connect and hear your advice! 🙏

Thanks so much in advance!

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Theresa HarrisPro Member
Member since 2019 · 15k+ posts · 11k+ votes
1y
Quote from @Ken M.:
That tax is only for non-owner occupied properties that are not long term rentals (ie mostly short term rentals).  If you have long term rentals, it isn't a problem.  
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  • Ken M.
    Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
    1y
    Quote from @Shaun Matthew Vicencio:

    Hey everyone! I’m new to real estate investing and currently learning as much as I can. I’m based here in BC, and as you probably know, property prices are really high right now.

    I’ve been reading BRRRR by David Greene and planning to follow the strategy. My initial plan is:
    ✅ 75% funding from a private lender (I already found one)
    ✅ 25% from a joint venture partner (still looking, but I have some potential candidates)

    Right now, I’m trying to figure out:
    🔍 Where to find good real estate deals (especially distressed properties)
    👷‍♂️ Where to find a reliable contractor
    💭 Whether I should flip first to build more capital or go straight into BRRRR

    I’m really motivated to take the risk and get started, but I also want to learn from others who’ve been in this space, especially here in BC.

    If you’re an investor, realtor, contractor, or just someone who’s been through this journey, I’d love to connect and hear your advice! 🙏

    Thanks so much in advance!

    Didn't BC institute a hefty tax on non owner occupied houses? As if taxes and expenses weren't high enough already.


    The Underused Housing Tax Act, which was introduced in Bill C-8 and received royal assent on June 9, 2022, sets out an annual 1% property tax on the value of residential property that is considered vacant or underused. Like Vancouver’s Empty Homes Tax and BC’s Speculation and Vacancy Tax, the Underused Housing Tax (UHT) is intended to improve housing affordability by discouraging certain owners from leaving residential properties vacant. There are some significant differences, however, in how these taxes are applied. This article provides a brief overview of the UHT to explain a few of these nuances."




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    • Theresa HarrisPro Member
      Member since 2019 · 15k+ posts · 11k+ votes
      1y
      Quote from @Ken M.:
      That tax is only for non-owner occupied properties that are not long term rentals (ie mostly short term rentals).  If you have long term rentals, it isn't a problem.  
      1Reply
  • Shaun Matthew Vicencio
    OP
    Member since 2025 · 5 posts · 0 votes
    1y

    I still not sure on this Thanks for this knowledge as I am new on this real estate investment.

    0Reply
  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    1y

    Couple of things to be aware of:

    -property taxes will be higher as you can't claim the home owner's grant on rentals

    -there is a property transfer tax when buying a home

    -BC is tenant friendly and there are caps on rent increases

    I'm not sure if you will be able to find someone to foot the entire bill (ie 25% down payment from them, and then joint names on the mortgage-what are you putting into it?)

    I can't help with where to find distressed properties, but most properties in the lower mainland and parts of Vancouver Island, Okanagan are not going to cash flow.  You will be paying to have someone live there and only possibly making money when you sell.

    1Reply
  • Shaun Matthew Vicencio
    OP
    Member since 2025 · 5 posts · 0 votes
    1y

    I'm aware of the higher property taxes, transfer tax, and rent caps, and I'm factoring those into my plan. For the 25% down, my JV partners would provide the capital, while I handle everything else—securing the mortgage under my name, managing the property, overseeing the rehab, and handling tenants. I plan to be the main borrower to keep the mortgage in my name, and we'll have a legal JV agreement to ensure both parties are protected and share equity and rental income 50/50.

    I understand cash flow is tight in the Lower Mainland, so I’m focusing on value-add properties (distressed or under-market) to build equity and refinance down the line. I know appreciation will likely be the main gain, but I’m working to find the best deals possible.

    To be honest, part of my challenge is that I’m not sure how to really get started or what the first steps should be. I’ve been looking for distressed properties, but most are still at high prices, and it’s been tough figuring out how to break into real estate investing here in BC. I’m eager to learn, but navigating everything feels overwhelming at times.

    Thanks again for your advice!!

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