All Forum Posts by: Pawan J.

Hi Kristoffer Roxas and welcome to BP, There is so much more to flipping than meets the eye everything from how you setup your finances and legal structure before you buy to strategies on how you sell the property to maximize return. We have been flipping houses in Vancouver BC for some time now (some our own and others by partnering with similar likeminded folks) and every area in the lower mainland is different. What exactly are you looking to do in Realestate? PM me if you like also.

Hi everyone, hope your all enjoying the summer I know my family and I are loving ours with Carribean cruise and just finishing our Hamptons NYC house project. Wednesday the 10th works for me.

Here in vancouver BC it is minimum ~$90k+ to lift a house and just add to foundation walls. If completely hitting the existing foundation and pouring all new add about $25k min. Often we dig down a little just to get the min. 6'8" ceiling height.

Josh Evans it's all about supply and demand. Since there is a high demand in Vancouver BC and the Lower Mainland, the seller has greater power to dictate the terms. This is why auctions in Australia and UK work as there is high demand usually. I even saw BC's first auction last weekend! I have sold all my flip properties like you did in recent times and in some cases even before the date set as someone came in so high just to avoid the hassle of competing. It is a bidding war but not like a traditional auction as technically the agent should only work with one buyer at a time (strongest offer) and then may put them on the sideline and work with the second Often pushing the top bidder or two higher and higher. This is why it is good to have a very strong negotiator as a realtor if anyone needs a strong negotiator realtor in Vancouver let me know as my realtor also gives huge discounts compared to others and a kickback for buying with him! I have saved over $200k through his firm. PM me if needed.

Hi Stacey Jarratt and welcome to BP from a fellow Investor in Vancouver BC. Matthew Jarvis and I started a meetup in Van recently for BP members specifically so if your ever this way let us know. Congrats on jumping in full time it can be a scary leap but hoping you have planned out your next 5yrs and it aligns with the move. As for partnerships we have been very successful in the Vancouver market to date with partnerships and yes it's pricey but returns are good and such returns help our partners and I accumulate cash quickly for more long term buy and holds. Feel free to PM me for more info and look forward to hearing about your new career in future posts!

Yes Vancovuer is high buy-in that is certainly the main reason why we have a couple partners in on each deal to spread the investment amounts. Double digit returns are double digit returns so the more you put in the more you get out!

Hi @Tyson James I cant wait until Vancouver makes AirBnB and alike legal. What is the law in Revelstoke about AirBnB and alike short term rentals?

Also BP may ask you to move this post to the marketplace very soon... FYI

Hi @Robin Brown and welcome to BP but also the Vancouver market.

Yes its high stakes to buy-in but returns are great also! 

We actually find that we can accelerate our long term-portfolio by doing more short term deals (ourselves and with partners) and build capital (residual income) this way. With that capital on shorter term deals we, and our partners use it to buy buy-&-holds. This means that we are buying a few a year instead of continually having to save for deposits for each place.

There is cash flow in BC for sure - Vancouver is tight as you know. 

Feel free to PM me for more info or questions.

Great event and nice to see everyone. Lots of different avenues for REI in Vancouver, the lower mainland and BC. Look forward to the next one.

Looking forward to meeting everyone tonight and talking Vancouver and BC real estate.

Its an interesting market with high buy-in and high-returns. There is a lot of talk about a bubble or too expensive so look forward to hearing everyone's thoughts and their views and recent experiences in this market. 

I am also trying to bring my realtor out tonight who can give us some 'boots on the ground' info about the market and what he is seeing across the lower mainland at the moment. You might be surprised!