I looking at scaling up my portfolio holdings and wondering if anyone knows of a better strategy is this high interest environment. I have 3 rental units so far with tenants in them; I've looked at getting another condominium to make 4 units, but the bank would literally need me to put down about 40% as down payment to ensure its cashflow positive. Any thoughts?
Vancouver or the island are both going to be hard to cash flow even without the higher interest rates. Plus in BC you also have the property transfer tax to pay when you buy. I agree with Anthony-look at AB. I have places both on Vancouver Island (bought before prices went up) and in AB. Tenancy rules in AB are also different than in BC.
Also look for single family homes or homes with a suite rather than a condo. The condo fees will make it a lot harder to cash flow.