Winter in Kamloops, is it slow?
Hi, my name is Brad and I'm as new as it comes to investing in real estate. I live in Langley, work full time in Richmond and now invest in Kamloops. We took possession of our first property Jan 1, rented it back to the owners for half a month then spent 3 solid weeks renovating the house into a 3up 2 down 2 suite house.
We have a property manager, who was able to get the basement rented, but seems to be having a harder time renting the top. I'm pretty confident its priced to market, and its nice, fresh and clean so in my opinion it should show well. Their reasoning is that its very slow right now. I know we will find a good tenant eventually, I just thought there would be more interest since its supposedly "less than 1% vacancy".
So I thought I'd finally make a post and see if there was any appetite for a discussion in the Kamloops area. I'm interested in hearing how others are doing? Whats working, whats not. Is there anyone who lives in the lower mainland and has properties up in kamloops or surrounding areas? (Kelowna, Vernon, Barriere, Logan Lake, etc) What are peoples experiences good and bad with property managers in the area?
I'll talk about anything, here or by PM :)
-Brad