All Forum Posts by: Erika Holmes

Investment Info:

Condo buy & hold investment.

Purchase price: $275,000
Sale price: $465,000

Was able to refinance the condo I previously purchased (using the BRRRR method), in the same building, and do a private deal with an owner down the hall from my unit. Did some cosmetic reno's to the unit and then rented the 2 bed 2 bath unit out, which positively cash-flowed $200/month.

Investment Info:

Condo buy & hold investment.

Purchase price: $290,000

First property I purchased on Vancouver Island, in the heart of Downtown Victoria. This "district" area was called Harris Green Village, which is seeing a tremendous influx of commercial development. This condo building will most likely be bought and torn down in the next ten years (wood structure, 4 story, 1995 build), but until then I have great tenants in the unit and it cash-flows very nicely since I was able to purchase it right before condo prices saw roughly a 20% appreciation.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchased a multi-family property in the Town of Comox on Vancouver Island. We live in the upstairs portion of the home and rent out the remaining unit. This market has a very low vacancy rate and has seen tremendous growth in the single family home market. A great area to cash-flow and build equity.

@Gaganpreet Dubb Vancouver Island is a great spot to invest. The real estate market (both commercial & residential) in Victoria really took off in 2015, with annual rates of appreciation around 20%, this has kind of leveled out now and become a difficult area for first-time investors trying to cash flow. In the past five years, as affordability has become more and more difficult at the south end of the island, buyers have been making their way up island towards Nanaimo, Comox Valley, and Campbell River. The Comox Valley has seen a 30% appreciation in just the last year. In terms of a first-time investor looking to cash-flow in a strategic market, Comox Valley or Campbell river is definitely one to consider. Still possible to find a "good deal", and with vacancy rates sitting at 0.9% (as of Fall 2020). Also different tax implications here than in Vancouver (ie. no Speculation and Vacancy tax).