All Forum Posts by: Myron D.

Thanks everyone for the information!  I'm going to spend a few days having a look into the suggested areas to see if there are suitable investments in those areas.  I will be in touch!

I've been looking in to Tacoma and the surrounding area as a possible investment area for myself and several partners.  I'm not as familiar with the area as I'd like to be and would appreciate some information on what investors see as the best area to buy multi family properties in.  any information would be much appreciated!

I'm curious on the actual rules that are being put in place.  Does anyone have any more information?

Hi @Stanley Kong , the coast is where the plant's are being built to ship overseas.  the Gas itself is being pumped out from north eastern bc.  In between including places like Prince George there would be pipe line construction.  If this goes through it will be a big deal for all of northern BC

@Pawan J. There are a few variables that have lead to this slump.  I would say the biggest cause is certainly the oil price.  However, most of production in this area is Natural Gas.  NG is also down as it obviously tends to follow the oil price.  A positive investment decision on PNW LNG would certainly have a positive effect in this area.  I believe we're in for another boom up here, possibly as soon as 2017.  I just spoke to my real estate agent this morning, houses/duplexes and condo's are selling even investors are buying.  Theres a lot of positive signs out there right now! 

@stanley 

@Stanley Kong I added you as a colleague , it won't let me send you a message until you accept :)

Hi Pawan, The value of property/ selling price is much higher than PG is what I had meant.  A 5 bedroom place is probably $2500 a month or so.  The vacancy rate has certainly increased in the area over the past 10 months but the selling price has also dipped down probably around 5% or so.  I've seen that dip mostly on newly built duplex properties.  A 3 bed 2 bath duplex that is brand new will set you back around $330,000 per side, it will rent for somewhere around $1800-$2000 per month.  Those rates a year ago were somewhere between $2200-$2400. We saw a very similar curve in 2008/2009 and vacancy rates dropped below 1% (essentially turn over only) a year later.  

Rod Mcloed is an agent in Prince George that I know quite well.  I'm not from PG but also know other builders in that area.  The Prince George market is a funny one.  There are opportunities if you purchase in the right area.  I was told their vacancy rate is around 3%.  If the LNG deal gets announced, Prince George will be a hot spot as will Fort St John where I'm located.  The property in Fort St John is much higher but cap rates are still quite good.  

 Hi Ash!  Thanks for the warm welcome.  Great to see other local's on this forum, especially hockey fans!

FSJ is a very interesting market right now, there has been a lot of out of town investors moving in but not to the extend that Dawson Creek has had in the past few years.  I'm sure you've got some research into the area but I'm more than happy to help you out with any questions you may have about the area etc.  

Cheers!

 Hi Shahriar!

Prices are crazy down in the lower mainland but I've heard a lot of good deals are still possible to make!  Port Moody is one area that I've been told is going to have a lot of action in the near future!  I've certainly looked at the USA for investment as well, there are a lot of amazing multifamily properties but my concern is the distance between where I live and the properties.  Have you had a lot of success down south?