Long Distance Deal or Fix & Flip Condo

[Binh T.]

Hi BP,

First time posting. We live in an expensive market (Vancouver BC area) and recently took the plunge and bought a rental condo in Coquitlam. The good news is we were able to get a tenant right of way, but the bad news is that it doesn't generate positive cash flow. We knew this going in and we're counting on property appreciation for ROI. We have some fund left from our refinancing and we're deciding on how to get our next deal. We have two thoughts. First, long distance investing in cheaper markets. We heard Moncton, NB is a good choice but even that is getting hot. The cashflow looks great, but the thought of long distance is scary but we know it can be done. Second option is to fix and flip a condo in the Vancouver area market and target 10% - 15% ROI. Is that realistic? Open to feedback and suggestions. Thanks!

Binh

[Roy Cleeves]

You may find it harder to find a hood fix and flip whereas you could find the cash flow property in New Brunswick quicker.  And as you said -Moncton is having good appreciation in prices as well.   Good luck.