All Forum Posts by: Nathan Chase

there are a number of locals. recently we had a meet up. I'd say 10ish.

I'm local but looking to invest outside of vancouver. 

@Victor Zhou is having  a coffee meeting up in vancouver next week. I'm out of town until early September. Feel free to connect. 

no one knows exactly the extent of Chinese money on the vancouver housing market. The job market is stable but wages have largely stagnated and not kept up with cost of living. The housing affordability crisis means that lower paying jobs are having a hard time keeping employees. Restraurants and retail can't attract employees and keep them in vancouver. This spells difficulty as either wages will increase, further pushing up cost of living for everyone or these businesses will have to close or move. 

in my humble opinion.

@Mike M what do you mean by buying Subject To? 

I live in Vancouver and there is a fair amount to Chinese investing. it'll be interesting to see how the market corrects if that inflow of cash slows or stops...

@Kash Jawed. I'm interested in how you did the financing for the BRRRR in the Canadian system. Did you use your own funds or private money up front and then one mortgage at the end? How long did you have to own it before refinancing and what LTV were you able to get?

thanks.

@Victor Zhou. I'm also located in Vancouver. Meet up sometime? I'm doing a lot of market research for the West Coast so I like you am looking.

Hi Simpy,

I would be happy to meet you but I am also new to investing. I'd be happy to share notes and ideas and what knowledge I've gained to date.

Nathan

This is great! Very quick, concise overview of the lenders we need moving from 1 to 5 to 10's of units. 

Skytrain must mean Vancouver, Canada. Sounds like you're having alittle buyers remorse. Remove the emotions and ask yourself about the numbers if it's an investment. If it isn't an investment but a home then that's a whole other can of personal fish.

assuming it's investing, How will you make out based on appreciation and rent? What is your exit strategy (ideally two such as rent or sell as per Uwe's comments). And with a kid on the way having a place you own is always a good fallback should you get renovicted. 

Your sweat rental deal could still be a fall back. For instance you can move into the townhouse and sublet the rental. Tenancy laws in BC say landlords have to have a credible reason to refuse a short term qualified sublet so you could feel things out knowing you could always move back into the rental and rent the townhouse. 

my 2 cents

enjoy whistler. the drive north towards the interior is beautiful. you'll fall in love with BC no doubt!

I'm in Vancouver but away for the weekend. Monday next week if you're still in town.