New Nomad investor, originally from Vancouver Canada.

New Member Introductions
10yFollow

New Nomad investor, originally from Vancouver Canada.

David Lade
Burnaby, British Columbia · Member since 2016 · 4 posts · 1 vote

 Hey everyone. My name is David and I am a 25 year old male originally from Vancouver Canada currently bouncing around the world, currently in Japan. After recently exiting a lucrative startup I am left with quite a bit of capital for investing in real estate which is something I've always wanted to do.

I have been lurking on the forums for quite some time and I am definitely interested in 2 approaches to investing at the moment;

1) Buying condo's as cashflow investments (buy and hold) as close to an affordable downtown core as possible to also hit a potential appreciation, although I'm aware i should never count on appreciation but being from Vancouver its in my blood I guess. This investment type is appealing for multiple reasons. I do not drive for one and I would like to take a stab at PM to start and I think that condo's are a great entry point for that. I am aware of all the BS that an HOA can cause.

2) Buying distressed SFH, rehabilitating them and then refinancing them.

I've decided to join bigger pockets in order to begin networking as I believe it is the most important aspect of RE. Currently my focus is geared towards Condo's in the states and Japan as Canada is extremely hard to cash flow in at the moment. 

Thanks for reading,

David

1Reply
15 views

7 Replies

Jump to latestLatest
  • Roy N.Pro Member
    Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
    10y

    @David Lade

    Welcome to BP.

    Condos can be hard to cash flow (HOA fees, etc.) and Vancouver can be extremely difficult to cash-flow in Vancouver these days.

    However, there are many other places in Canada where properties do cash flow just fine.

    0Reply
  • David Lade
    OP
    Burnaby, British Columbia · Member since 2016 · 4 posts · 1 vote
    10y

    I'd hazzard to say that Vancouver cash flow is impossible, and with our new taxation on foreign investors even speculation (a game I would never play) seems to be too dangerous for most right now. It should be noted that It's likely I'll become an expat at some point, but looking at other areas of Canada outside of Ontario is definitely an option.

    0Reply
  • Ming Lim
    Investor · Toronto, Ontario · Member since 2014 · 320 posts · 125 votes
    10y

    @David Lade Welcome to BP!

    I feel your pain. Toronto is similar - sky high prices, and mediocre rents. The advantage to investing in areas like Toronto and Vancouver are the tenant profiles, easy of renting out, and appreciation. In Toronto, and I'm sure it's the same in Vancouver, you need to be more creative to cash flow. There are no buy and rent properties that cash flow in Toronto, unless you're throwing massive down payments in the mix. 

    The strategies I've been using are all variations of BRRR and almost all multifamily. Buying in almost good areas, but still decently close to transit. Single family and condos simply don't cash flow right now.

    If I were you, I'd start networking locally and find someone who's been successful investing in Vancouver and learn what they've been doing.

    Cheers,

    Ming

    0Reply
  • David Lade
    OP
    Burnaby, British Columbia · Member since 2016 · 4 posts · 1 vote
    10y

    I think i'll be looking outside of Vancouver. The market is just not my thing, I'm really interested in some markets in the US at the moment as far as SFH go, Omaha in particular. Not sure what a good cashflow market is for condo's however. Maybe FL.

    0Reply
  • Account Closed
    Investor · Omaha, NE · Member since 2015 · 111 posts · 12 votes
    10y

    Welcome to BP Family!

    Please let me know if I can be any help.

    ~ Yoshi  :D 

    0Reply
  • Stanley Kong
    Specialist · Vancouver, BC · Member since 2016 · 63 posts · 7 votes
    10y

    Hi @David Lade , 

    Welcome to the forum! I feel your pain, I'm in the exact same boat as you minus the capital from your startup. lol 

    As cashflow is virtually non-existant in our market.. What I've been told by many investors here is that you have to find a niche in order to succeed in this market. Some have recommended vacation rentals where you can possibly get twice the rent.

    From going to meetups I have learned that it is possible to still get positive cash flow in east Abbotsford.

    For myself, I am currently focusing on building up capital and at the same time I have my google alerts on "LNG in prince rupert." 

    If the project gets approved, it would create thousands of jobs in Northern BC. At the current state there won't be enough homes therefore that would be a good time to invest in either SFR or syndicate Multi family deals.

    Of course it is all speculation until that gets approved.

    At the same time I'm also extremely tempted to buy a new development in the upcoming "Downtown Burnaby".

    So until then I'm going to keep lurking around BP, and saving up capital.

    0Reply
  • David Lade
    OP
    Burnaby, British Columbia · Member since 2016 · 4 posts · 1 vote
    10y

    @Stanley Kong

    Yea, the gentrification of Brentwood mall area seems very promising along with the revitalization of Metrotown since Vancouver proper is too expensive . I believe some condo's near the evergreen out in Coquitlam have potential although no where near 1%. Although its not as bad as it once was East Abotsford doesn't have the most ideal tenants, but that's changing evrery year. I beleive the cootneys are promising for an initial cashflow on SFH and eventually I believe a lot of middle-class baby boomers will sell their 5m tare downs in north van and move out there during retirement, but I don't drive. Even with these niche's I still can't help but be drawn to the fact you can scoop up a condo for 80k and flow it for 1,000-1,200 in the states.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free