All Forum Posts by: Stanley Kong

In my opinion flipping is the best right now for the Vancouver market. 

I don't consider the Vancouver market to be a bubble. It is a beautiful place to live and everyone wants to come here for the fresh air.

I believe Vancouver is just on a really strong uptrend right now. There will be a point when we run out of buyers and the price corrects slightly. However there is no signs of it slowing down at all.

@Jeff Appleby Welcome to Bigger Pockets. I'm also looking for a buy and hold in the price range you are as well. At that price range you can only get a 1br/1bath condo in new west. I'm in a similar situation as you right now. 

@Jack Young How many properties are you actively managing yourself right now?

@Jack Young 

I just did a CL search to see what properties were renting for. It looks like $1000-1200 for a 3/2 would be more accurate?

I was hoping that the 20k in rehab would force some appreciation in rent, but now in hindsight it's best to be more conservative and go with the lower number.

What are you renting your properties for in your area? 

Part of my due diligence would be to interview and screen some property managers in Prince George when I do take action. I accounted for 13% for Property manager as I rather pay for quality than have a shabby one that would create issues down the road. 

Do you feel that if the LNG passes it would create more jobs in the area?

@Taylor McMullen It's a rough entry point for sure. I've been trying to find a market that would cashflow and the local meetups suggest that Abbotsford might be a potential.

@Jack Young 

What do you think of this deal that I did an analysis on? It's in the Highland Park sub area.

http://www.realestateanalysisfree.com/107-MCDERMID...

I am told that Mcdermid is a good street however McIntyre Cres is terrible. This property just happens to be on McDermid but has the backyard facing McIntyre. 

@Jike Z. Welcome to the forums! I'm new to the game as well. Right now I'm still building capital and learning as much as I can and looking for a good opportunity. What type of RE investing have you done so far and what is your niche? I have taken the three day seminar for Rich Dad but didn't opt to proceed with the advance RE course. 

@Jack Young I'm just curious which part of Prince George do you invest in for your Buy and Hold. Do you do the VLA? Any opinions on investing in Prince George?

I agree with you @Michael Rosehart I bought my condo in 2014 for 200k and it has gone up to 300k now, I'm already itching to refi. 

I'm in Montreal for work so I'll make it for the next meet up.