You just need a healthy 2 million to start out. Lol.

I'll applaud you for waiting 16 years to reap your benefits as a landlord but not everyone these days are willing to wait that long. The question to white70r was is he willing to wait it out and endure the pain in the beginning?

What crash? There's been a slight drop for sure, but any sold property that's way under ask is most likely desperate sellers.


I've been saying the same

500k, go buy some porsche's and profit
500k, go buy some hermes handbags and profit
500k, go buy some patek/rolex watches and profit
500k, go buy some chanel handbags and profit
500k, kidnap my wife and profit

What if her husband chooses not to pay up?

In that case, obviously it would be the husband that is profiting! :whistle:

Nah...

My smallest ($$$-wise) deal starts at 750k. Yes, it's USD, but that's what? A shoebox in YVR? And I've seen deals much smaller than this. One project that I recommended a buddy of mine who wanted to get into CRE for some stable passive income was merely 350k. And sure it wasn't anything great. But it was a very decent deal as it was a liquor store in a state where a liquor license alone is worth north of 100k. And that little investment nets him about 60k USD a year now.

Who's manages that for you though? Taxes? Getting sued, shot since you're in the states?

It's NNN. Tenants take care of themselves on pretty much everything.

Other than something that requires my consent as LL or if I happen to be in town and want to buy them a beer, we very rarely talk/email other than tax season for whatever paperwork we might need from each other.

I have everything set up electronically. It debits x amount of rent at y date every month and other than Covid, never an issue. Finger are crossed but really... minimal LL responsibility.

Taxes, unavoidable unless you have no income at all. Just hire an accountant worth paying some money for, done.

Unless you are unlucky or doing some serious noob shit, I don't see/hear very often commercial RE landlords getting sued. It's usually the other way around. We are usually the side initiating this shit.

Shot? Again, I'm in Canada. I do travel to US and other countries for work from time to time but really... it's no more dangerous than many other fuck'd up places I've been to.

Seriously... look beyond your comfort zone. YVR is not everything. Not even Canada as a whole. All these you just listed are excuses to convince you NOT to invest in CRE, especially in the US or anywhere beyond Canada. But really... once you start looking into what the whole thing is about, it'd blow your mind how simple everything is.

16 years ago I had to put my money into something or I would have spent it. My cousin came along with a condo presale. 8 Members including me bought units. My parents have always liked real estate. At one point they owned 4 duplexes and the house we lived in. Sold them all to build the gas station. If you are bad with money real estate is a good way to save.


People still keep talking about a crash. We will see what happens. You have to look at a lot of deals before you find one that makes sense.

You and MrHappySilp should swap wives and pitch that for a TV show

There's your 500K

Funded by the ghosts of 1029 Cafe :troll:

You've got this all wrong, Hobz would pay you to kidnap his wife, so he gets some peace and quiet.

This is a trap. I can confirm. :accepted:

I think it's too risky and probably too expensive for the normal person. Imagine picking up a single or double unit commercial property for $2.5 - 5Mill, letting it sit for 2 - 3 years vacant due to covid, tanking on pptax, maintenance, utilities and mortgage interest.

When you get interest on a property, you want to close the deal quickly with a new company just so you can put someone into a nnn lease and stop bleeding on opex. You discount your base rent years 1 to 4 to settle them in, maybe even offer a TI credit.

Then a year rolls around and this company is going insolvent and not paying rent and you bleed legal fees to get paid :yuno:

Out of Vancouver commercial should be good though, but the average normie would cry to spend $300 - 1,000 on a flight to scope out property lol

I agree with you, look outside YVR to make that money, CRE making an easy 7 - 10% cap rate + appreciation + NNN, very spooky if you don't deal with it normally though. I'm dealing with a litigation on landlord and lessee side and the landlord has so much power in CRE, tenants must pay the rent, there's almost no way out especially if you got sick guarantees against the owner's asset vs just the holding/operating co.

I don’t know about being a commercial landlord but I know 3 different people who own businesses which expanded into the states

The amount of litigation you’re subject to on a constant basis is fucking insane. 2 were in the construction industry, one in quality assurance etc. and they are all just dealing with non stop law suits for the most frivolous, stupid shit.

The one guy basically abandoned working in the states building huge developments because the closing/finalizing of every single project he worked on was drawn out for YEARS in litigation. Everyone fucking suing everyone else

https://www.zealty.ca/mls-R2748319/7...-Vancouver-BC/

1.969m for a 1750sf duplex in the Fraser/King Ed area - that looks like a well designed and well made home but that's pretty ambitious pricing for this market. Will be interesting to see what it actually sells for.

With that said, I'm going to point out that I don't understand the current obsession with Fisher & Paykel appliances for new builds b/c their products are shit from a performance standpoint. My house came with F&P and while they look and feel nice they suck ass when it comes to performance. We got rid of our two tier dishwasher a few months in b/c of how it'd never clean our dishes properly (replaced with a Bosch which we love) and we have the same 36" range shown in this duplex and it SUCKS. The oven can't reach the high temperatures, the burners can't go low enough, the ignition system is fickle, and the thing lacks so many basic features for anyone who likes to cook. I'd replace it but it'd run me $10k minimum for an induction range. Either give me a high end Samsung kit or get me into the actual higher end brands like Miele or Bosch (or even Wolf etc).

I can't stop looking at the missing speaker grille, the paint all over the stairs and door hinges, and the shitty caulk job on the kitchen island.

Interesting alley...

https://scontent.fyvr2-1.fna.fbcdn.n...Zw&oe=63DC9AE7

I think you are looking at CRE from a perspective that's really only for seasoned players.

There is a reason why they let property sits for months if not years. But what you are not seeing is their entire portfolio. That vacant property might be 10 or even 1% of their holding. They can afford to wait for the right offer and it's got a lot to do on how their financing is derived. But that's another topic.

For a new entrant to the market, I'd suggest to either hire some consultant who knows their way around the CRE market and can make sure one's not overlooking on major stuff.

And in case one doesn't want to hire a consultant and don't have where to find a good one, there's always the option to go with a AAA credit tenant. Those are tenants who would rather close the store and keep paying you rent than skip a payment. I've had AAA tenants that got through the whole Covid like it was never there. Sure their return are usually lower (as is anything with low risk). But there are certainly a lot of options out there for both seasoned and new investors.

As for lawsuit... I'm not in active business per se. But in US, pretty much everything is covered by insurance. If you are doing any business without insurance down there, then you deserved to be sued for not having insurance. :fuckthatshit:

And as I've said in previous post, as a CRE LL, the chance of one getting sued is very unlikely unless you are doing some noob shit. Because there isn't much in the business, as a CRE LL, to be responsible for anything. When responsibility is near 0, chances of being sued is also near 0 because it's got very little to do with LL on pretty much anything one can think of.

Your friend Chris would also like to make a similar investment :drunk:

What's the typical write up/clauses in a parking spot rental agreement? Ie. in regards to damage due to either the person renting or if it is a building issue that results in the spot needing to be cleaned up/repaird and/or unavailable to use during that rental period?

Downside of commercial is that it has not appreciated like residential has. Commercial rents and values have not kept pace with residential.

I know from personal experience the strata doesn't give a shit, any spot rentals you're on your own... they'll always go after the owner of the spot for whatever it is regardless of who is parked there.

They only consider anything binding if they themselves rent such allocated spots out.

at first glance i thought it was a right of way

So update on this property. Friggin still lined up around the corner last weekend and they had multiple offers (closest one is 3.1+ cash) but owner wouldnt even take it.

https://www.rew.ca/properties/481162...nt-richmond-bc