All Forum Posts by: Greg Rulfs

Hi @Shahriar K. - I've been to the Surrey REI group. It's definitely worth attending if you can make it out.

Welcome to the forums @Matthew McLean !

Sounds like you're in a good position to get something started in Canada. Glad you found the BP Podcast, I'd encourage you to read as much as you can in the resources section of the site. Check blogs and follow some posts, try and learn as much as you can!

I'm located in Vancouver, BC, it's difficult to get started here because of the high buy-in price but there is certainly some opportunity around. The pipeline will likely create some hot spots where you could do well by timing the market right. This kind of investing is risky as you're effectively guessing when to buy into the market and when to cash out, hoping it jumps at the right time and doesn't plateau before you're gone. There are certainly deals to be had, and someone like yourself with a little insider knowledge may be able to do well.

Julie Broad has a great book called "More Than Cashflow" that is a well rounded introduction as well as some insight into her journey investing in various parts of Vancouver Island. Many other good books, Ken McElroy's "The ABC's of Real Estate Investing" was one of the first I read, and found extremely helpful.

Glad to see another Aussie getting involved on BP, send me a PM if I can help you out with anything as you get going.

Good Luck!

@Filipe Matos I hear you, thanks for the insight.

@Erika Di Salvo @Filipe Matos One way to finance in the US from Canada is by using a Line of Credit or HELOC. The problem with that right now is you're losing more than 10% to the exchange rate. Since homes can be purchased in the US for much less, this is an option for technically no money down at a good interest rate.

RBC also has a program for US investors, you have to put around 40% down though for investment properties. PM me if you want the flyer.

TD does lending for properties but only in a couple of states on the East coast.

Other than private no doc loans in the US, like Visio or Peak - they are all the options I know of.

Hi @Cristiana Kimmet !

Welcome to BiggerPockets, I'm sure you'll find people who can offer great advice on your situation on the site.

I'm from Vancouver, BC and snowboard in Whistler a couple of times a season, so I understand the high demand for accommodation in areas like this. I've considered how an investment in such an area might perform and have a few thoughts.

1. Management will likely require a much higher fee as they are taking care of bookings, maintenance, cleaning etc. on a much more regular basis. If you self-manage a vacation rental I can see it eating up a LOT of your time!

2. If the apartment is in a hotel-type complex you may have to pay a resort fee, those can be very expensive.

3. It would be great to save yourself the expenditure and hassle of booking at peak season when you already own an apartment in your favorite holiday destination. Keep in mind if you occupy the place yourself, you're paying for it by losing out on potential rent for that time.

I think you should decide how you want to use the property as Vacation Rentals can be quite different from primary residence rentals. From there, do the analysis based on the numbers you get for your desired scenario. From the numbers you already posted I can't see it working well purely as a residential rental.

Best of luck to you! Let us know how you go.

Typically if refers to percentage points. i.e. 5 points = 5%

I think whether or not it's a bad deal depends on what you want to get out of it. If you're aiming for that kind of return then it might work for you, keeping in mind what @Giovanni Isaksen mentioned.

Personally, I think you could get more than 4.74% out of your $100,000 down.

@Daniel Ringwald I've never looked into those markets myself but understand the area in general is growing fast! I don't think you'll get the same kind of cash flow you typically see in the "hot" US markets.

I haven't done anything in London yet, however, I would like to make use of my borrowing capacity here if the investment makes sense.

I've looked at Surrey and some of the regenerating areas of Vancouver City, but don't own anything here. I'm just starting out and the buy in is too high for me. Not the case in Ontario though.

@Bill Gulley Absolutely, there's no rinse and repeat method!

I've heard Robert Kiyosaki say that ideally he would never sell, rather, build equity, refinance and buy more properties. He would be referring to buy and holds. I like the idea in theory...

I can't speak to the tax/estate implications.