All Forum Posts by: John Humphries

Thanks so much guys. BP comes through again!

@Roy N. and @Mindy Jensen Thanks for looking into that.  Found a workaround to get into the Alberta forum in the meantime. I just started a post and was able to find it that way. Glad to see that it was a bug and that I wasn't going crazy.

Hello Alberta BP'ers! I've been speaking with a fellow investor who has been investing in Grand Prairie and doing very well with renting furnished rooms to workers in the area. I like his idea and his numbers look pretty good, but I'd like to dig a bit deeper before jumping in an investment with him. Would love to speak with someone locally to get a better idea of what's happening in this market and if these numbers are realistic.  Anyone else investing or knowledgible in the Grand Prairie or surrounding area market? Thanks in advance!

@Roy N. maybe you can help me out here.  I can't find any of the Provincial sub-forums. Somehow, I found my local BC one last year, but I'm interested in tracking down some resources in Alberta and have spent hours trying to find an Alberta sub-forum and can't find it on the site. Any direction would be greatly appreciated!

Looking for some recommendations for a mortgage broker in Kansas City.  Has anyone had any good experiences with someone that they'd like to recommend?

Hi @Chris Boulton. Welcome to BP! You are definitely right about the numbers not working well in Campbell River. I find the property tax to be very high there as well, which also hurts. You make a good point about Port Alberni being tied to logging.  Fishing is still big there as well.  However, tourism is picking up and evidently many people are using it as a bedroom community for working in Nanaimo. Courtenay and Nanaimo are only a one hour drive from PA. I definitely don't feel as comfortable investing there as opposed to here in the Comox Valley, but unfortunately, I've been effectively priced out here in Courtenay.

As for Ontario, I looked at Toronto and Hamilton awhile back, but found it to be a bit too expensive for entry now.  I had contacts in both areas, so would have been comfortable with those markets, but things may have been different in Guelph, London, Thunder Bay, etc.  Don't know enough about those areas.

Interesting idea.  I like it, but the engineers were not able to give me any type of useful estimate. There's likely little chance of them putting anything in writing until things are dug up and a solution is identified.

I recently put in an offer on duplex but discovered a cracked foundation during the inspection. We've since pulled out of the deal, but I'm wondering if anyone has any advice (other than run the other direction) and/or experience with this type of reno.

Basically this side by side duplex is splitting down the middle. One side is obviously sinking and likely continuing to sink as we found a crack in a closet along the center wall. This place has been renovated within the last 6 years and the crack had obviously worsened since the reno. You can see the crack in the foundation along the back of the structure as well as feel the lean of one of the units.  Very noticable. Windows and siding also showing signs of bowing. 

We contacted a few contractors and had an engineering company have a look before we backed out on the deal. All basically said the same thing - It would require some digging to determine the cause and a plan for repair.  No way to estimate the cost until the issue was exposed.  Could be $5000 or $80,000 fix.

This is a hot market with multiple offers on any revenue properties, but we made our findings on this one public, and it has remained on the market for 2 additional months now.  The owners want to get rid of it, but are not willing to fix the issues themselves. Perhaps ripe for a very undermarket offer and could be a great property.

Anyone have any advice on potential ways to procede or creative ways to structure an offer?

Hi @Jason Ridout, congrats on getting a property in Alberni. I've been over again last month to look at a few places there and did actually see some pretty good rental units with solid tenants, so I think you are correct about there being some good renters in Port. I think there will just need to be more diligence there in tenant placement. I'm pretty keen on finding a place there but there has been very little inventory on the market lately. I'm hoping the spring brings some more houses for sale.

I'll be curious to hear your experience there. Do you already have a contractor or handyman picked out for the work? Also are you going to manage from Parksville or have someone local? My wife and I will be passing through Port early April to have a look at anything else on the market there that might make sense. There are a few places that have been languishing on mls for quite some time now that I have an eye on. These would all require work so I'm definitely curious to hear if you find good people there.

This may be a dumb question, but it just occurred to me that a duplex that I am analyzing has separate meters, but only one forced air furnace. Currently utilities are included in the rent, but I'd like to have tenants paying for utilities.  How would this work with the one furnace? Can you have 2 separate thermostats?

My other properties have baseboard heat. Can't seem to wrap my head around this one. Can someone set me straight here?