First offer I made was 40k lower than the asking with a lot of subject. Buyer came back saying no and they basically said no they are looking for over asking since someone was asking bidding. I offer then 18k lower than their asking and remove a lot of subject (including financial) and it got accepted. I think it really depends on the area, if someone is also bidding against you and your subject.

Nicer units with better locations, directions, rental/owner.... all comes into play when you put in your offer. I seen units that's so bad even the seller's agent said this unit needs to spend some money for reno and seller is willing to pay part of it(most of them are rental units though).

Off topic: For those who live or owned and apartment do I have let the strata know/apply for approval if I am changing carpets in the bedroom. Basically the unit I bought already have carpets in the bedroom and I just want to replace them with newer carpets. Was thinking of hardwood but in the winter it seems nicer to have carpets and also with hardwood the strata is stingy as it can get they even have requirements on what type of hardwood floor you have use, how thick it is etc etc..... I know putting in carpet is a lot easier as it doesn't require much work, just rip the old ones out and put in new ones.

Question for you guys....Better to rent out a 1 bed room condo for income for life or say fuck it and sell the entire condo in one sump of payment with little more than you paid for it.

DEPENDS if you need the cash now or no and how much you can rent for? Can the rent cover the strata fee/insurance/property tax etc etc. Will the price of the place go up?

I mean if the rent can cover all of the fees and stuff you you can see the price will increase in the next 7 years I say keep it and rent it out through a rental agency. Sell it later when price is high. If the place is sold for what I pay before I would just rent it out.

Avalon 3? It's a long-term investment there for sure, I wouldn't worry too much about it. Theres still a lot of other towers to be sold still so the price will be a bit higher.

please tell me what crystal ball you use to see price fluctuations for the next 7 years.

Currents not Avalon 3. Yeah that's my mindset right now.

I just went to 3 open houses over the weekend for apartments in East van. 2 have been listed for 2-4 weeks, apparently owner wants over asking or at least asking and rejected the 1-2 offers received. I'm surprised I don't see more assignments being dumped

It's a lot easier to ask for forgiveness then permission, I wouldn't ask.

As someone who holds a license, own business, and also a customer myself I have to admit there are a lot of bad ones out there with who are clueless. 20,000+ out there, there are bound to be bad ones.
I've used some bad ones to save a dime (errors & omission insurance does not cover myself), never again!! Those are the ones doing <10 deals a year - not worth it to save $1-3K which is an expense anyways on capital gains when its tax time. Not worth it IMO.

For the power houses that do 50+ I can't say there's no skill or luck. On average $10K commission per house and overhead expenses of $50-100K that's still net $300K+ commission.

Show me a no brainer job that pays $200K+ without skill and clearly I'm wasting time with this real estate hustle.
You can only do so much research without MLS data as a retail buyer, exception being commercial and rural markets where small sample size. I'd still gladly pay for access and expertise.

You'd think so, but manager at Richmond H&R on No3 & Westminster (90% Asian traffic) guy was at a loss as he's only done 1-2 capital gain on sale of assignments in 10+ years there. Show you how much CRA is looking to rake it in on...

Concord's projects were all as of last week BANNED from Assignment. Freaked people out (dropped listing prices galore). ARC, W1, Avenue One, Concord Brentwood... due to CRA tax reviews.

Good thing with Wesgroup is they don't allow assignments to third parties until completion so most buyers go in knowing they can mortgage/pay out completion. Less speculative than most developers approach.

Can see Li ka Shing swearing in canto.

Strata can force you to revert all unapproved modifications on your own dime. Asking for permission involves about 5 minutes of paperwork. I personally wouldn't risk it. When I had the flooring redone in my unit all the contractors I talked to had asked if strata gave the ok first.

Yeah I like my way better. I've lived in a strata before, I changed all my floors jack hammered tile when I had someone below me in a carriage style townhouse and zero fucks given. I'm a nice neighbor so I let the lady below me know there might be some noise.

My developer is Polygon though and I know they allow assignments before completion. Probably not going to assign anyway.

Yea. Spend a few minutes and just call your strata to be safe. It should be fine though but all stratas are different so might as well check

Those who are are holding out and looking for above asking are probably going to HODL until it's worth more. Even if gains have slowed down massively.

yep, theres always the asshole grumpy hermit person that will report you.

make sure to clean up after

I read home prices went down about 0.4% from July 2018 vs 2017. Time to celebrate!

I am going to email them again I know hardwood you have to get approval not sure about carpet

Just reading the minutes I already have a feeling there are some grumpy/stingy people living there already. There are a more than a few times where people complain about noise level. I am sorry but you are living in an apartment there are going to noise around you. As long as is not too bad and actually cause issue with your sleeping who cares. In my current I know the people living below have a dog which always barks around 11pm to mid night. Doesn't bother me to a point I need to complain. I also hear people leaving around mid night on the floor and some noise as they are leaving. Doesn't bother me coz I am too lazy to change out of pj to tell them or write an email to complain about it.

There are also reports of people getting fine smoking in their balcony (lol in my building over 70% of the people smoke their balcony) or people not seprating their garbage. I always how they know who isn't seperating their garbage unless they put camera inside the compactor since must people put their garbage in a bag it will be impossible to tell what's inside the bag unless someone physically opens the bag after is been in the compactor...

Hello new neighbour :fullofwin:

People can be greedy fucks sometimes! I mean I can understand if the seller maybe has a few properties and is stubborn. They have to realize market right now is slow and different then what it is a year ago. But asking for over asking price or at least asking is just greedy.

Going to be interesting to see how my open house goes on Saturday, kind of want to gauge how the market is and if anyone will show up lol

You will have people come over. There are people just walk by/drove by saw the sign and just want to check things out. I did it to the open house happening in my building and the building beside it. Doesn't mean I am going to buy or interested it though.

big news.

NZ formally bans foreign home buyers