All Forum Posts by: Pawan J.

Hello fellow Canucks.

Pls respond if you are interested in catching up one evening over a drink/appys to discuss real estate investing.

We can discuss our goals

Achievements

Plan of action

Opportunities in our BC market

Small plug on what PNJ Property Investment Group does also but more a chance to network with other locals on BP.

If there are enough replies I can propose times and dates to see what works for those interested. 

Thanks and happy investing.

Hi Julie Khaled , Welcome to BP, as a fellow Canadian in Vancouver BC I can tell you that on tee west coast here is not a lot of buy and hold properties hat are cash flow positive due to high prices, however it is a great market for fix and flip (large returns) and redevelopments which is what I do with investors. This is also another way to build a nest egg for university education.

I am also interested in buying cash flow properties in the states and looking to learn what states are landlord friendly and of turnkey sellers in those states. U hear Texas but where in Texas? Is there something online that tells you what areas are a,b,c,d etc? Vancouver is not a place for cash flow rentals which is why we buy, renovate and sell and profit share with investors as there is money in it still.

hi @David Daniels  and welcome.

nice to see (once) local blood on here.

Yourself, @Ross McKenzie  and I should stay in contact as we plan on investing in Texas and eyes and knowledge on the ground would be great and I know a lot about the Vancouver market as we flip houses with investors here, so could help you in your search later with market Info or whatever.

as a canadian buyer always think what would a buyer want...great location, no external issues (train tracks etc) proper estimate of repair costs and Proper comps.

Also factor in if there is any way to increase rents as you mentioned tenant rents both duplexes so may be doing so at a discount so rental comps may be in order.

@Ross McKenzie  the main issue here in BC if you actually buy and hen quickly I sell is the property transfer tax and legal costs. 

In BC it is very simple to wholesale. on the purchase agreement where you would write your name, you would instead write "[your name] and or assignee". That's it there is no subject clauses required and many people do this (as I did) with the intention to actually purchase the property in a company name or wife's name etc but need to get an offer on the table asap.

@Ross McKenzie  check out our website and past projects as returns are anything but slim in vancouver. With prices higher it means margins on clips are higher!!

hi and thanks all.

@patrick Britton thankfully assignment of contract is completely legal here in Canada, in fact I did it on my last deal however I signed it from myself to a holding company with some investors that we are flipping. It is a whole overheated market @Roy N. however I think the concept would still be the same in any market as long as you can find the deals before they hit the MLS and at a discount of course. In some areas the competition and demand is so high that I feel to get deals in those areas you have to get them before they hit the MLS. Thankfully we have always found great deals on the MLS (deceased estate, sat on market too long) but in order to do 4-6 flips a year profit sharing with investors I need to source more deals faster, without competition to ensure a low purchase price. I like how you think @Ross McKenzie have to be positive, but low sell high and there are always people who need to sell quick. In fact the more I see little happening here on wholesaling the more I see opportunity!!

Hi all, I hear about wholesaling more and more and sounds great, but is anyone actually doing it in Vancouver British Columbia ( BC ) Canada or the Lower Mainland? Interested to learn more about success stories from people wholesaling in this area.

hi Tanya and welcome to BP. Good to see another Vancouverite.

Don't be discouraged by this pricey market their is lots of money to be made and more money per deal means less deals required per year. 

We buy fix and flip properties with investors and are making great coin!!

Hi David I am in Vancouver BC also and always happy to help and see a good deal!

are you wholesaling yet?