All Forum Posts by: Kris Mcfarlane

@Rohit Bhagat Hi Rohit, my apologies for the late reply. Glad to hear you already own two properties in our market, that's amazing.

You definitely won't find 1% or 2% rule properties out here but there are cashflow neutral or slight negative options out towards the valley (Chilliwack/mission/abbotsford).

1. Most real estate investors in our market are either flipping luxury real estate or developers. (there are people who flip condo's but the margins are very small). For the most part, people here acquire quality real estate and hold for 5-10 years.

2. I'm sorry to say but the BRRRR option isn't really feasible in our market as its next to impossible to get the margins needed to pull out equity in the refinance. I'm sure its do-able but dam well next to impossible.

3. If you want to speed up the process, unless you want to try and be a builder or you have the capital to flip luxury real estate, you'd either have to try and BRRRR/flip remotely in other markets like Calgary, Winnipeg, Nova Scotia, etc etc. OR, scale your IT business with your wife and just try to acquire as many buy and hold properties as possible. ..Thats just my opinion, maybe someone in our market could prove me wrong, I don't know.

Have a good one Rohit!

@Kris Mcfarlane yea I just have to keep hunting for the next one. This particular offer was 5k less than the counteroffer of the first interested party. No way to know that it was so close, other factors could have been the possession date, etc. 

Whatever the reason for the seller choosing the other offer it doesn't matter now.

Onwards to more offers!

 Haha I see. Yea yesterday was always better than today or tomorrow for purchases. I recently just missed out on a deal and I found I was $5k shy. A little annoying.