All Forum Posts by: Pawan J.

Good question and would like to know also if it is reset for new tenants (I would think so). 

Also if you sign a one year lease with a tenant, when this lease is due for renewal can you increase it more tan 2.9% if same tenant?

HI @Samantha Sandee Depending on what you wan tot know specifically, I would say i am pretty knowledgeable when it comes to the legal aspects of REI in BC as we have done many deals. feel free to message me.

Ping if you need a hand.

Maybe instead of capital you have money tied up in a HELOC you could use to get started?

JV partnerships and private money deals can come in all shapes and sizes and as I was just telling a newbie tonight most private money lenders (that are not family or friends) likely want to see a track record or an actual deal (Hard in this market as no subject deals happen so quickly you need to have financing lined up first). JV deals or private money with family or friends (your investor) may be your best bet to get started once you can analyze a deal properly.

Message me and we can chat more. 

As for how to structure the deal this depends on various factors of each party relating to effort vs. capital outlay and risk  etc. %profit split, PM fee, finders fee + %of profit etc

@Teddy Hoang Vancouver is a great market for real estate when it comes to generating a high ROI through flips and new construction. Our JV partners and I have had great returns on every deal and we have been in this market for several years. Its a high buy in but high ROI also. Hence you dont need to flip 30 homes a year to make a decent $

Long term buy and hold is not so great here. Other parts of the province of BC are different.

Hi @Bryce Penner welcome to BP from another Vancouver RE Investor.

Hey @Joel Sherlock what happened with the city of Vancouver?  Are you finding long term rentals actually cash flow in Vancouver BC? Maybe furnished only?

Welcome to bigger pockets Mike Kohan the community is awesome and a wealth of knowledge on here. Sorry to hear about the house. A Grow-op stigma only really goes away if you tear the place down which in your case wouldn't make any sense. As a landlord this is always a risk with a rental. Im not sure if maybe the lax pot laws in vancouver BC would reduce how many illegal ones are setup?? I have heard mixed reviews about Chicago and contractors. Two investors I know both have had issues with work and just tonight I spoke to someone who said they just couldn't pull the trigger as there was so much variation in quotes which I understand for someone unfamiliar to the cost of a renovation and sub-trades. I feel so much safer investing close to home in Vancouver where I can drive by the asset and have more control (as a contractor and as an investor).

Hi Matthew Jarvis Vancouver had been great for us on the investment front as yes prices continue to soar making it difficult to buy-in so to speak. This is why we find partnering with likeminded folks on deals here in vancouver works for us and allows us to get double digit returns to date. These are mainly flip projects and new construction. Buy a hold in vancouver to generate positive cash flow is hard but not impossible. Peter Crisp don't sell! The easiest way and most people we partner with who own a home simply use their HELOC to invest in residual income deals. As mentioned most homes in Vancouver are likely worth $1m in most areas.

Vancouver wont crash!

Being born and raised in Sydney Australia I have seen real estate rise, rise and rise some more. Even when people thought it couldn't get more expensive it went up another 20% in Sydney last year.

Vancouver and Sydney are very similar in that they are the most desirable places to live in their countries and until recently Sydney was also in the top 5 in the world but now only Vancouver remains there. both cities are land locked, and they are also both beautiful harbor cities. Australia sells non-renewable resources as its main export to China and Canada doesn't sell much to china instead more Chinese/Asia invest in property in Vancouver, also in LNG companies and resource companies in BC etc. Canada sells more to the USA (~87% of exports). 

Even when china slowed down some years ago and stopped buying from Australia, Sydney house prices did nothing but stay stable. At the same time and to this day Chinese folks with money continue to get their money they make out of china and hence invest in real estate in Vancouver mainly due to instability in their own country and most don't care if their investment appreciates as long as its holds it values.

Long story short even if china crashes prices will do nothing in Vancouver but remain stable or maybe fluctuate no more than 5% even if their is more inventory than buyers.

Vancouver is an amazing place to live and the more the world knows this the more the prices will rise.

This is why our investors and I continue to make great residual income through buy, renovate or build new and sell in Vancouver and will continue to do so for some time. 

If you own real-estate in Vancouver - don't sell unless you have to, use the equity as our investors do to make residual income on flip deals and use that residual income to then buy rental properties for long-term passive income. :0)