All Forum Posts by: Chris Muller

@Paul Sandhu

Definitely a different market...I can’t believe a house can be bought for $11k...I wish!

Here we are lucky to see anything below $500k.

Sounds like good opportunity and returns in your niche though.

@Paul Sandhu

Being a destination location here in Kelowna/Okanagan Valley nice STR properties will generate $700-1000/night and be booked for 4-5 months straight.

Even decently updated properties in a good location will generate $350-550/night.

Some of the more remote locations (pseudo-off grid) cabins will be $500/night and campers are $250-350.

@Paul Sandhu

I’m not sure what your comment is meant to insinuate, but there are multiple locations around the province that I live in that provide similar types of experiences and generate excellent gross revenue.

I am fairly new to the short term rental side of real estate, I’ve mainly been a long term buy and hold investor.

In the past couple years we have done a few small scale short term rentals out of our principle residence (with great success).

Looking into trends in the industry (and conversations with friends who run a successful str business) the idea of short term rental glamming came up.

It looks like there are all forms/styles from pods to yurts, cabins to tree houses or retro trailers...something for every type of person it seems.

Has anyone on here ventured down this path?

I have an acreage in a quite a desirable tourism area - minutes to a large lake, amenities and tourist attractions all around and the property has amazing lake views.

The thought here was to setup a glampground essentially - as the zoning allows for 10 fully serviced sites and provide renovated units in a private, comfortable setting.

For example, a modern updated travel trailer, hot tub, fire pit, great cooking amenities in individual private areas . The property also link to a mountain trail network for hiking, riding, motor sports etc.

I am trying to gather information to see how viable this type of STR is/can be and and info from more experienced folks in this field.

It seems to me that with Covid and lack of travel/shift in what people are looking for it seems (a place where all the amenities are there and not having to go out for entertainment for example) looks to be popular - a destination location.

Any info/opinion etc would be great from other members of the community here.

Hey everyone

We are in a very active market, waiting for a deal on MLS just doesn't happen often these days and have started the shift to direct mail-out campaigns to attract sellers before they are calling a realtor up - or heading into foreclosure etc.

The target audiences are:

-tired landlords who want out

-owners who need to sell quick (moving etc)

-owners who have money problems

-owners who are willing to do a lease-option

To date we have done the yellow letter - a “hand-written” note basically saying that we were in the area, interested in their home and not a realtor, with a basic call to action of call a phone number.

From more experienced investors out there - what have you used and had success with? Looking to build up the toolbox of different mailers.

Also any recommendation on the times of year that are best in your experience?

I’ve been looking into self storage sites and located for some experienced advice.

What would be a minimum parcel size to consider? Is 0.8 acres to small?

The thought would be to do mini storage as it’s in an urban setting.

It’s a flat rectangular lot with services on the lot, but it would be a blank slate.

Overall it seems the rents are a bit below the okanagan, but the price point outweighs that.

What do these mid-island towns have to support economic growth, net migration and of course jobs? Are there major industries or mainly tourism?

The area has seen a large increase in pricing and a decrease in vacancy - what is driving it?

Any thoughts on how a post-covid world will affect that going forward?

Starting to look out in Calgary for suites houses and duplex/fourplex buildings.

What areas of the city (neighbourhoods) do you/would you invest in?

Which areas would you steer away from?

Usually looking for properties needing work and BRRRR'ing them.

Hey Kris,

Where abouts have you been doing this strategy with success?  Looks like your on the island - I’m up in the okanagan.

Would like to find out some more info on this strategy if you are up for that.

Looking for some info or to connect with investors that are up to date with the mid/upper vancouver island. Specifically looking for Comox, Courtenay, Campbell River but also Nanaimo area.

Looking for:

average rents (mainly suited homes or house/carriage house)

Short term rental market

Rental housing demand/vacancy

Currently based in the okanagan/Shuswap and looking at other areas to diversify in BC.