Anybody in the Interior/Kootenays?
16 Replies
Colin Girard
from Rossland, BC
posted over 1 year ago
Anybody here in the interior/kootenays? I live in Rossland and was wondering who else is around?
Jason Gozjolko
from Vernon, BC
replied over 1 year ago
I am a little north of you in Vernon.
Colin Girard
from Rossland, BC
replied over 1 year ago
Nice. I've been looking in the okanagan a bit. Tough Market.
Edison Reis
Rental Property Investor from Kelowna, British Columbia
replied over 1 year ago
Welcome @Colin Girard
The central Okanagan is harder to cash flow nowadays plus the city of Kelowna has implemented tough byways against short term rentals so I wouldn’t recommend it.
Lake Country, Vernon and Kamloops would my next options in the region. (But honestly Edmonton and Calgary are currently the best bets)
Cheers
Edison
Colin Girard
from Rossland, BC
replied over 1 year ago
@Edison Reis I have noticed you are a member of REIN Canada. Would you mind sharing what you think the benefits of it are?
Edison Reis
Rental Property Investor from Kelowna, British Columbia
replied over 1 year ago
Hi @Colin Girard !
Yes, I am a REIN member and believe their membership provides good value first year or two.
I am not sure now but I am in a monthly plan of 160.00 but ... after going through all their videos, resources and other benefits becomes hard to justify it.
The best part is their annual ACRE meeting (in Vancouver, Calgary or Edmonton as far as the West Coast) but you could attend as a non member. If you live in a major city and could attend their monthly meetings and get together would make more sense but ..... I live in Kelowna and even when they have events here I am expected to pay like 50 bucks to attend.
I am about to cancel mine (it was a 17 month contract) and invest the same money in a specific coaching program or course.
Check the ones from Tilt (Jared Hope) .... that’s a non BS approach towards real estate
Good luck !
Stacey Jarratt
Investor from Nelson, British Columbia
replied over 1 year ago
Yes, investing in Castlegar intentionally since 2008. We have experience in single family and duplex, using the BRRR strategy. Currently, I'm actively looking for a multifamily property, with a preference for Nelson. I'm also learning about self storage, and keeping my eyes open for opportunity. Are you investing in the area?
Colin Girard
from Rossland, BC
replied over 1 year ago
@Stacey Jarratt I've been keeping my eyes open in Castlegar. I am also looking for a multifamily and have interest in a self storage and i've noticed first hand how difficult it is finding storage space around here. I currently have a rental apartment in Rossland.
Devin Solberg
replied over 1 year ago
Hi Colin, I'm just getting started, but I'm out in Cranbrook. I've done a couple live in flips, and looking to now purchase a buy and hold as well. Been looking at some options in Trail as well!
Colin Girard
from Rossland, BC
replied over 1 year ago
Originally posted by @Devin Solberg :Hi Colin, I'm just getting started, but I'm out in Cranbrook. I've done a couple live in flips, and looking to now purchase a buy and hold as well. Been looking at some options in Trail as well!
Hey Devin. Nice work on the live in flips. I wish that was an option for me but I don't think the family would agree haha
Bryn Frayne
Rental Property Investor
replied 3 months ago
@Colin Girard I’m new to the market having just purchased a fourplex in Nelson this past summer with friends as a house hack. Interested in castlegar, and other local markets to get a rental property soon. Would love to connect with others in the area.
Jay Black
replied 3 months ago
I am in Kelowna and new to the forum. Glad to see some activity here for those of us in BC
The Kelowna market has gotten significantly tougher just since July. Its pretty insane how high prices jumped just in the past few months. Very little supply.
I have been checking out other towns here in BC and seems to be much of the same. Who woulda thought a pandemic would make home prices jump 20%!
Santi H.
Lender from Okanagan, BC
replied 3 months ago
What are you looking to purchase?
Prices will soften up a bit in dec/Jan. Kelowna is cyclical with seasons.
Supply is limited for sure. 800 sales in September vs 400 last September. 774 in October vs 429 last year.
Incredible stuff.
Jeff Demers
Rental Property Investor from Cranbrook, BC
replied 3 months ago
Hey Devin,
I am also in Cranbrook. Are you part of the REI group? My wife and I have just refinanced our rental and are looking for our next investment. MLS isn't providing many great options. Let me you if you want to chat one day.
Cheers, Jeff.
Jeff Demers
Rental Property Investor from Cranbrook, BC
replied 3 months ago
Hi Stacey,
I'd love to see a real life example of a BRRRR as that seems to be one of the few ways to scale. Maybe we can connect and chat one day!
Thanks, Jeff.
Colin Girard
from Rossland, BC
replied 3 months ago
Originally posted by @Bryn Frayne :@Colin Girard I’m new to the market having just purchased a fourplex in Nelson this past summer with friends as a house hack. Interested in castlegar, and other local markets to get a rental property soon. Would love to connect with others in the area.
Nice work on the 4plex! Those are tough to find in the area. I've found a few multi-fam in Trail but have been hesitant to purchase so far.