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Vancouver Off-Topic / Current EventsThe off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.
Are you losing really losing $600 a month or are you just converting it to a different asset. If I bought $600 in gold I would not look at it as I lost $600.
Actually losing $600 a month.
Only hope is tenant leaves early and rents have increased by then (we caught the bottom in rents) or we renew at a more favourable rate in 3 years. We got caught but such is life. Can’t win them all.
There are many people in the lower mainland who think the stock market is a fools game and would rather lose money on a tangible asset than leave their money in a computer lol
Sure, there are always some. But most just need some help with education to understand their options. Real estate has a spectrum of risk - from a single family home on a good street in a good neighbourhood to a rezoning play in a secondary market. The stock market is no different, a share of Costco is not the same as a share in a junior mining company. A lot of people are trying hard to up their financial literacy these days which is great to see.
-Mark
__________________ I'm old now - boring street cars and sweet race cars.
There's a bell curve for a reason. That's just the fact of life. It's amazing how many people actually think they know what they're talking about.
The moment you realize you don't know shit, is a profound moment in your life.
That's also the beauty about investments (stocks and real estate). It's pretty easy to tell if you were right or wrong. In 20 years it's pretty black and white. There's no subjectivity in the matter.
On a side note with $75 - 150K for RE Investment which areas/cities/builds would you guys consider at 5-5.3% interest?
My friends had success in Calgary, but it's volatile in the sense that you could be making close to 8-13% back on rent + Cash flow. But one small special levy could wipe out 2 years of rental gains.
Fortunately they got some capital gains but it's pretty minimal, SPY came out ahead.
On a side note with $75 - 150K for RE Investment which areas/cities/builds would you guys consider at 5-5.3% interest?
My friends had success in Calgary, but it's volatile in the sense that you could be making close to 8-13% back on rent + Cash flow. But one small special levy could wipe out 2 years of rental gains.
Fortunately they got some capital gains but it's pretty minimal, SPY came out ahead.
Kinda in this boat rn.
Have a burning hole that could pay for a DP or a whole property in a smaller city but don't think it's worth it with current interest rates.
Was thinking bout something in Tahoe / Whistler instead of something in a city.
If I had to do a city, maybe something in Prince George - solid industrial base and tenants.
If interest rates are holding you back how could you be considering whistler? Its like 900k for a small one bedroom there lol.
I want something real but not at the expense of negative cashflow.
Most of it's in NVDA/MSFT stock which feels like paper money to me.
In my mind, having something I would use myself also reduces risk.
I'd use something in Whistler/Tahoe and could AirBnB it out.
Calgary/PG? Not so much
On a side note with $75 - 150K for RE Investment which areas/cities/builds would you guys consider at 5-5.3% interest?
My friends had success in Calgary, but it's volatile in the sense that you could be making close to 8-13% back on rent + Cash flow. But one small special levy could wipe out 2 years of rental gains.
Fortunately they got some capital gains but it's pretty minimal, SPY came out ahead.
Isn't a special levy just part of the risk though? You can't really predict a special levy unless you see it in the AGM docs. Or you know a big maintenance issue is coming up.
I've also been looking for an investment property and Saskatchewan, Edmonton, and Winnipeg by the numbers looks to be cash flowing. Many parts of Texas also cash flow. But I don't know how owning American real estate works.
Just the thought of real estate though, it scares me because I'm not that familiar with it. I'm much more comfortable with the stock market.
The only way a Whistler property will cash flow is if you put like 80% down.
Also, people should realize that doing Airbnb should be treated like a business, not a vacation home. Most times your Airbnb rental will be booked up unless you block it off six months in advance, it's not as easy as, 'oh this weekend I want to go to whsitler'. It likely won't be available.
The way you should look at it is, you own the Airbnb as an investment and the earnings you get from said Airbnb allows you to rent out another Airbnb or hotel at your leisure
You can't borrow money and make money on something in whistler. 15-20 years ago would have been the move, but the covid inflation for whistler was the worst of anywhere. You got rich people buying vacation homes, and you had medium rich people who could work remotely flock there. Combined with the most absurd building stipulations there, it couldn't be more fucked.
__________________
98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever
Westopher is correct.
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Originally Posted by fsy82
seems like you got a dick up your ass well..get that checked
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Originally Posted by punkwax
Well.. I’d hate to be the first to say it, but Westopher is correct.
Have a burning hole that could pay for a DP or a whole property in a smaller city but don't think it's worth it with current interest rates.
Was thinking bout something in Tahoe / Whistler instead of something in a city.
If I had to do a city, maybe something in Prince George - solid industrial base and tenants.
Squamish and Whistler prices are almost the same as Vancouver if not higher post 2021.
Isn't a special levy just part of the risk though? You can't really predict a special levy unless you see it in the AGM docs. Or you know a big maintenance issue is coming up.
.
Correct, it's the risk we take!
However, in Calgary, special levies are more common because high rises aren't as popular there. So I speculate the quality / expertise isn't as good as Vancouver.
Overall wear and tear is so much greater as the city swings from -25 to 35C. In addition to all the snow and hail that they get. One thing I learned is that they replace their windows + roofs way more than Vancouver and it's way more costly because it has to sustain hail.
Dumb question -- nowadays, where do people go to look for places to rent?
Back in the day, Craigslist has worked quite well for me (as a landlord). But since getting out of the landlording game, I have no clue what people use now.
Dumb question -- nowadays, where do people go to look for places to rent?
Back in the day, Craigslist has worked quite well for me (as a landlord). But since getting out of the landlording game, I have no clue what people use now.
Facebook gets us the most traffic though CL isn't bad. I find we get slightly more no shows with FB folks but not so much that we'd stop listing there since we get more traffic that way.
If I were a renter, I would prefer the road less traveled. I would check Craigslist + Asian newspaper/forum group + local facebook groups in the area.
People who post on craigslist generally don't post anywhere else and a lot less people use craigslist than facebook.
My father-in-law posted to some Chinese local forum as he only wanted a canto/Mandarin-speaking tenant. He priced it at $1,500 for a one bedroom basement in east Vancouver (all in + internet + laundry). When I told him he could probably get $1,800, he literally said, "Chinese won't pay that much". He found a student from HK and he was thrilled.
I'm part of my local facebook community group and while the posts are hilarious most days, people always post rentals in that group. Sometimes hand written signs in windows from older people wanting to rent their suite, it's not a lot but a decent amount if you're keeping up with it.
Don’t have to, on marketplace just auto delete enquires based on profile pictures lulz
You don't want to rent out your place to a professional renter?
Or a single mom with multiple baby daddies?
Or an international student who insists it's just for him and not his 7 friends behind him?
What would you do if you caught your neighbour leaving "free" items outside your house?
Spoiler!
I live on a corner lot and was getting into my car to take my son to the skytrain station nearby and saw my neighbour a few houses down bring out an old hockey net and what appeared to be an old bbq cover and leave it on the street corner. Here's the gist of our conversation:
Me: Hey, are you just gonna leave that stuff there?
Neighbour: Yeah, so someone can take it.
M: That's just going to attract others to leave their junk there.
N: This area is public property you know?
M: Well then why can't you put it in front of your house?
N: Why don't you mind your own fucking business? (he was walking away going towards the alley)
M: (I gave him the finger)
N: (he came back towards me) Did you just finger me?
M: You're essentially saying the same to me!
N: Do you want me to fucking beat you in front of your son?
At this point, I was very close to actually fighting this dickhead. Maybe I could take him, maybe not (average middle-aged Asian guy, handyman-type profession), but with my teenage son in a 2v1 (we're both 6'1") there would be no way we would lose. Instead, my son told me to just go so we left.
I came back a few minutes later after dropping my son off and my neighbour was still near the alley and said "Don't worry [my name], the stuff will be gone in a few hours". I ignored him and went into the house.
Fortunately, a few hours later, someone did come and take the stuff away. Thinking back, what a stupid altercation to get into. Good thing we didn't actually fight!
__________________ Do Not Put Aftershave on Your Balls. -604CEFIRO Looks like I'm gonna have some hot sex again tonight...OOPS i got the 6 pack. that wont last me the night, I better go back and get the 24 pack! -Turbo E kinda off topic but obama is a dilf - miss_crayon Honest to fucking Christ the easiest way to get a married woman in the mood is clean the house and do the laundry.....I've been with the same girl almost 17 years, ask me how I know. - quasi
I’ve snapped at people before doing the same thing, even my direct neighbour
I said no one wants this garbage, and all you’re doing is encouraging other people to dump their shit around here, it’s a fucking eyesore. His response was oh people might need things, some people don’t have this or that
I said if you think you’re “helping” or want to help people put it on marketplace or go donate it somewhere, not on the fucking curb. I said from now on if there’s anything out there im gonna toss it in your garbage. Occasionally I’ve seen him out bags of clothes or other shit like that in my head I’m thinking what are you trying to attract homeless people here?
It’s a dick head move but I take the clothes and dump them directly into the garbage can and leave the lid open so A) everything is not legitimate trash and B) you’re not gonna pull it back out of the can.
Of course now over time others have done the same, and even today I see some old arm chair down the street just wheeled to the corner of the alley. Gonna go write a note and stamp it on it saying This isn’t the dump, no one wants your garbage, deal with it yourself.
It’s by far one of my biggest pet peaves drives me fucking mental
__________________
Dank memes cant melt steel beams
What would you do if you caught your neighbour leaving "free" items outside your house?
Spoiler!
I live on a corner lot and was getting into my car to take my son to the skytrain station nearby and saw my neighbour a few houses down bring out an old hockey net and what appeared to be an old bbq cover and leave it on the street corner. Here's the gist of our conversation:
Me: Hey, are you just gonna leave that stuff there?
Neighbour: Yeah, so someone can take it.
M: That's just going to attract others to leave their junk there.
N: This area is public property you know?
M: Well then why can't you put it in front of your house?
N: Why don't you mind your own fucking business? (he was walking away going towards the alley)
M: (I gave him the finger)
N: (he came back towards me) Did you just finger me?
M: You're essentially saying the same to me!
N: Do you want me to fucking beat you in front of your son?
At this point, I was very close to actually fighting this dickhead. Maybe I could take him, maybe not (average middle-aged Asian guy, handyman-type profession), but with my teenage son in a 2v1 (we're both 6'1") there would be no way we would lose. Instead, my son told me to just go so we left.
I came back a few minutes later after dropping my son off and my neighbour was still near the alley and said "Don't worry [my name], the stuff will be gone in a few hours". I ignored him and went into the house.
Fortunately, a few hours later, someone did come and take the stuff away. Thinking back, what a stupid altercation to get into. Good thing we didn't actually fight!
I don't think I would've been that bothered by my neighbors leaving free stuff out. But regardless, fuck that guy.
Cool of your son to de-escalate. Sounds like you raised him pretty good .
So I just worked with a coworker for the first time in a couple years. It just have been summer 2022. He was looking around the lower mainland to buy a townhouse and settle down. Has a rental in London in Ontario and the TH was going to be his final purchase. Cause home prices.
2 years later, he’s moved to Calgary, on his 5th house which 2 he Reno’s and sold. Now renting the other 3, while he lives in half of one of them. Fuck me, that was the right move. Lol Hahahah had a baby in between too. I felt like I just spent money. Hahaha
What would you do if you caught your neighbour leaving "free" items outside your house?
Spoiler!
I live on a corner lot and was getting into my car to take my son to the skytrain station nearby and saw my neighbour a few houses down bring out an old hockey net and what appeared to be an old bbq cover and leave it on the street corner. Here's the gist of our conversation:
Me: Hey, are you just gonna leave that stuff there?
Neighbour: Yeah, so someone can take it.
M: That's just going to attract others to leave their junk there.
N: This area is public property you know?
M: Well then why can't you put it in front of your house?
N: Why don't you mind your own fucking business? (he was walking away going towards the alley)
M: (I gave him the finger)
N: (he came back towards me) Did you just finger me?
M: You're essentially saying the same to me!
N: Do you want me to fucking beat you in front of your son?
At this point, I was very close to actually fighting this dickhead. Maybe I could take him, maybe not (average middle-aged Asian guy, handyman-type profession), but with my teenage son in a 2v1 (we're both 6'1") there would be no way we would lose. Instead, my son told me to just go so we left.
I came back a few minutes later after dropping my son off and my neighbour was still near the alley and said "Don't worry [my name], the stuff will be gone in a few hours". I ignored him and went into the house.
Fortunately, a few hours later, someone did come and take the stuff away. Thinking back, what a stupid altercation to get into. Good thing we didn't actually fight!
It really depends on what they are throwing out and where they are putting it. All of my neighbours do this routinely and no one’s ever had an issue. But they are all respectful enough to just leave it at the curb outside of their home, not down the street or in some alley. Furniture, stuff their kids have outgrown, etc. I’ve even helped myself to a child’s sled before.
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One of the neighbors had a laneway house tenant that pissed off everyone by leaving stuff out all the time. Guy put out enough stuff to block the vehicle traffic in the alley. There was some aspect of maliciousness for it, we think, as they were in the process of getting evicted.
They ended up leaving what looked to be a shotgun in front of their window for a few days, and freaked out a neighbor who called 911. He got dragged out of his place at gunpoint by the cops. Turned out it was an airsoft gun.
Guess that was enough to change his attitude about the eviction and left pretty quickly after that.
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