REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Buy & Sell > Real-Estate Listings

Real-Estate Listings Apartments, Condos, Houses.
Looking for a place to rent or lease? Even ready to buy your first home? Remember to look on MLS listings, but check out our postings too!

Reply
 
Thread Tools
Old 10-02-2010, 09:51 AM   #226
Proud to be called a RS Regular!
 
Join Date: Jul 2002
Location: non
Posts: 146
Thanked 3 Times in 2 Posts
Failed 0 Times in 0 Posts
http://www.vancouversun.com/business...103/story.html
Advertisement
1.8tradoman is offline   Reply With Quote
Old 10-02-2010, 02:37 PM   #227
I subscribe to the Fight Club ONLY
 
6793026's Avatar
 
Join Date: Apr 2004
Location: BC, HK, USA
Posts: 7,464
Thanked 2,400 Times in 1,005 Posts
Failed 166 Times in 73 Posts
Let me do some math for you all.

you want to buy a place that's 300K, which is decent size apartment (really big but old, or really new but small) property. If you want to do an INVESTMENT, don't even think about it.

300K, let's say in 2 years your place goes up to 350K, when you consider lawyers fees, commission to realtor (even at super cheap commission or minimal fees)and HST, you are WELL into 50K of your profit.

you have to remember, in those 2 years, even if you were lucky enough to FIND a tenant to pay for say... 1300 hundred of rent (better be a super nice apartment, but at 300k, good luck), your mortgage is going to be at 1500. you are short 200 bucks a month + property management fees + property taxes, sewage...etc.

within those two years, you would have forked out well over 5000-8000 dollars. For those who are home buyers, please be sure to sit down with your Realtor and tell them your short term goals. If they say NOT to buy your dream 500k apartment and trying to rent it out to make a profit... don't do it.
6793026 is offline   Reply With Quote
Old 10-02-2010, 03:47 PM   #228
I contribute to threads in the offtopic forum
 
Bonka's Avatar
 
Join Date: Dec 2001
Location: Vancouver
Posts: 2,830
Thanked 755 Times in 318 Posts
Failed 20 Times in 7 Posts
I'm sure these very buyers wanting to back out on their contracts now that the market is on the downturn wouldn't make a peep if they could flip them for profit.

You assume far more risk buying a presale and considering the huge PR machine Rennie used to push this development at a time when the market is nearing its peak it's not surprising to hear this as the market softens. There are always deficiencies in buying a presale I'm not even sure how that was an oversight for these buyers.
__________________
SHIFT_

"Harvey Belafonte ain't black. He's just a good looking white guy dipped in caramel. " - Archie Bunker
Bonka is offline   Reply With Quote
Old 10-03-2010, 06:37 PM   #229
HELP ME PLS!!!
 
johny's Avatar
 
Join Date: Jan 2004
Location: here
Posts: 5,793
Thanked 146 Times in 67 Posts
Failed 208 Times in 42 Posts
Quote:
Originally Posted by 6793026 View Post
Let me do some math for you all.


300K, let's say in 2 years your place goes up to 350K, when you consider lawyers fees, commission to realtor (even at super cheap commission or minimal fees)and HST, you are WELL into 50K of your profit.
what?... probably around 10k not 50. however in 2 years it'll still be worth 300 if you're lucky. I wouldn't count on any profit from short term reselling this way.

Quote:

you have to remember, in those 2 years, even if you were lucky enough to FIND a tenant to pay for say... 1300 hundred of rent (better be a super nice apartment, but at 300k, good luck), your mortgage is going to be at 1500. you are short 200 bucks a month + property management fees + property taxes, sewage...etc.

within those two years, you would have forked out well over 5000-8000 dollars. For those who are home buyers, please be sure to sit down with your Realtor and tell them your short term goals. If they say NOT to buy your dream 500k apartment and trying to rent it out to make a profit... don't do it.
so you are investing 2-300 a month and getting around 800? a month in equity (and that's if the place doesn't go up in value which it will over time). a ~300% return per month.

right now my money gets me about 1.5% / year...
johny is offline   Reply With Quote
Old 10-04-2010, 10:12 AM   #230
I subscribe to the Fight Club ONLY
 
6793026's Avatar
 
Join Date: Apr 2004
Location: BC, HK, USA
Posts: 7,464
Thanked 2,400 Times in 1,005 Posts
Failed 166 Times in 73 Posts
there are a lot of people have only a 3-4 years time investment frame and it's unreasonable.

investing 200-300 a month just in difference in the mortgage
+ 200 in property management fees
+ 120 in property taxes
+ sewage of 40 dollars
you're deep into a hole for 600-800 bucks a month. just to HOPE for a 10% profit which in reality is ZERO.
6793026 is offline   Reply With Quote
Old 10-28-2010, 02:09 AM   #231
Banned (ABWS)
 
Join Date: Oct 2010
Location: Vancouver
Posts: 3
Thanked 0 Times in 0 Posts
Failed 0 Times in 0 Posts
Downtown solid investment

Downtown Vancouver I believe is a solid investment .. They say that real estate is like an earth quake it explodes from the inside out.. When the market booms closer you are to the core more that it generally rises..When the market slows down its usually from the outside in.. downtown will always have value and more value when the market is hot...

Joe Manhas
Sutton West Coast Realty
http://www.bchomez.com
joemanhas is offline   Reply With Quote
Old 11-18-2010, 09:12 PM   #232
My homepage has been set to RS
 
03c0upe's Avatar
 
Join Date: Apr 2005
Location: Van
Posts: 2,082
Thanked 2 Times in 2 Posts
Failed 4 Times in 2 Posts
What are the predictions for the next few months, should buyers wait?
03c0upe is offline   Reply With Quote
Old 11-18-2010, 10:28 PM   #233
I contribute to threads in the offtopic forum
 
Bonka's Avatar
 
Join Date: Dec 2001
Location: Vancouver
Posts: 2,830
Thanked 755 Times in 318 Posts
Failed 20 Times in 7 Posts
It really depends. I've had clients tell me they regret being too passive in putting serious offers in while in the meantime prices kept climbing for what they were looking for and now they're further behind than before. At the same time I've closed a couple of deals this year where both my clients and I didn't think we could at the price we went in with so mileage does vary from listing to listing.

Typically the winter months are the slowest and tend to yield a slight advantage for the buyer. Apparently 2011 is still suppose to see a slight increase in price..
Posted via RS Mobile
Bonka is offline   Reply With Quote
Old 11-20-2010, 03:43 PM   #234
Need my Daily Fix of RS
 
g2surgen's Avatar
 
Join Date: Dec 2006
Location: Van
Posts: 275
Thanked 0 Times in 0 Posts
Failed 0 Times in 0 Posts
http://money.cnn.com/2010/11/12/real...tune/index.htm

http://www.vancouversun.com/business...103/story.html
g2surgen is offline   Reply With Quote
Old 11-20-2010, 05:42 PM   #235
My homepage has been set to RS
 
03c0upe's Avatar
 
Join Date: Apr 2005
Location: Van
Posts: 2,082
Thanked 2 Times in 2 Posts
Failed 4 Times in 2 Posts
yeah, i read else wheres not a buyers/seller market. it right inbetween, whatever that is lol
03c0upe is offline   Reply With Quote
Reply


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 02:37 AM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net