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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.
Thanks guys for the input. Looks like it's enforceable even if agreement isn't the official RTA form. They don't know how to fill out that (RTA official form), so something hand written up in their own language LOL (or just $, date, names, address), seems just as good from what is mentioned.
??? This was not my experience at all. I check listings for Calgary every day and there are tonnes of newer build or freshly renovated houses <$800k within 20 minutes of the city centre. $800k is high end for new builds in the NW like 30 minutes out (Tuscany).
Was also just there in person around Canada Day.
I think your driving times are what's off. My best friend lives in Bears Paw... which is as outskirts of Calgary as you can get in the NW... and that's 28 minutes from the centre of downtown. Tuscany is 20-25 minutes max. I think you are maybe looking within 10 minutes? Even then, Brentwood and stuff just other side of the river are nice and not anywhere near $1m+ unless you are looking at luxury homes
Did a quick google, you're correct, you can get to the outskirts within 20 minutes!
When I was there I was commuting north to SageHill from 17th Ave and it was 40ish minutes after 3PM. Google suggesting similar commute would be < 30 minutes, I imagine without traffic and some light speeding, you can probably get there in 20ish. That's amazing for the edge of town + new builds houses. I though the 26KM drive was crazy but then I realized downtown to coquitlam centre is close to 30km. I think the flat, all highway scenery made it feel like a longer commute that it actually was.
It's always entertaining watching two people from completely different cities talk about traffic / travel time.
When I was in Regina, my realtor said we were stuck in traffic when passing "downtown" which proceeded to be 5 minutes.
The drive from the north end of town, to south end of town, during traffic, was 25 minutes.
During no traffic it was 15 minutes.
To top it off, he said many people don't want to buy in certain areas, because it's a "long" commute to work. I don't know if he meant taking the bus, driving, or walking.....
vancouver traffic enters the chat
__________________
Quote:
Originally Posted by Mr.Money i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by mikemhg
Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
It's always entertaining watching two people from completely different cities talk about traffic / travel time.
When I was in Regina, my realtor said we were stuck in traffic when passing "downtown" which proceeded to be 5 minutes.
The drive from the north end of town, to south end of town, during traffic, was 25 minutes.
During no traffic it was 15 minutes.
To top it off, he said many people don't want to buy in certain areas, because it's a "long" commute to work. I don't know if he meant taking the bus, driving, or walking.....
vancouver traffic enters the chat
Same experience in Edmonton.
"Oh you guys came at a bad time, it's rush hour and it's bad traffic."
There's all of 7 cars at the light for a 3 lane road. Dude this is no traffic on a normal day in Vancouver.
Friend of mine got back from Osoyoos as he stayed at the Watermark and sent me this listing as he loved the resort and he wants to pull a HELOC on his house and buy one of the units... He has over $1M of equity in his house.
It's one of those hotels that you can buy a room and you get revenue sharing when you don't stay in the unit.
This one is a one bedroom at $249,000. No mortgage available due to the type of real estate it is, so you need all cash. He got a hold of some of the numbers...
$38,621 Revenue
$16,826 Net, paid to owner after all expenses
$1,982 Property tax
$497 strata/month
= 3.56% annual yield on $249,000
I told him it doesn't seem like a good idea especially when you can get 5-6% on a GIC right now. Any investment right now needs to be making at least 7-8% before you invest otherwise you might as well just get GIC's as they're risk free.
No one I know who’s bought into any sort of time share ever seems to come out ahead lol..
My uncle bought a similar thing in Cabo, he’s like you can use it whenever you want, it’s just $1500 a week plus a cleaning fee lol
The only place I would ever consider somthing similar is in whistler personally and I’m sure the finances of similar places in whistler make even less sense
__________________
Dank memes cant melt steel beams
Anyone ever sublet their own place for a few months while out of the country?
We don't want multiple tenants over the span of a few months, but rather a renter that needs it for the entire 3-4 month duration.
I assume Airbnb is the best option for that, or do people use other services? Any experiences?
I did for 3 months, furnished.
Posted it everywhere, except Airbnb (condo does not allow it at all, even with 1mo plus).
95% spam/window shoppers.
I think I had it up for 2 months before someone took it, from my experience people book a month in advance, at earliest. A couple that were in Manitoba had their friends view it, then my friend gave them the keys a few days after I left.
With that said, the lower your price, the higher chance of multiple applications, and those applications being early.
I moved all my shit into the "den" and installed a separate lock on it.
If you need to, take a 3 months application, at least that will cover 75% of the 4 months.
Came back to my unit 3 months later cleaner than I left it.
On a side note, my landlord was cock about it, tried to put a bunch of rules on me and I told him nope to every single one. Including I'm responsible for all appliance for the duration, wanted an extra xxx$/mo, etc. Eventually he folded, and let me rent it.
I gotta go through this again in a few months, inB4 he pulls the "I'm selling the unit" card on me lol
__________________
Quote:
Originally Posted by Mr.Money i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by mikemhg
Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
Anyone ever sublet their own place for a few months while out of the country?
We don't want multiple tenants over the span of a few months, but rather a renter that needs it for the entire 3-4 month duration.
I assume Airbnb is the best option for that, or do people use other services? Any experiences?
I posted a page or so about us renting out our whole house for 4 months
It worked out as the most perfect situation as a friend of a friend was going to school here from the UK and she was sharing an appartment for the same cost we charged her for the entire house
Imo probably best to rent to some sort of aquaintance if you can so at least there’s some accountability.
We tossed pretty much anything of value in the safe/closet and then I used structural screws and a 2x10 to secure the door from the outside. So would need a specific bit or a chainsaw pretty much to get into the closet lol. We trusted her but better safe than sorry
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Dank memes cant melt steel beams
Just want to get your guys opinion on this stuff. So we did the home inspection, and the unit inside the house (condensor i guess its called?) that is attached to the air conditioner is full of water when you take off the panel.
The water leaks down into the condensor exit pipe, but i got a feeling some of it might be leaking down into the filter or other areas. The owner will get an HVAC guy to look at it, but im wondering if this kind of water is normal inside the unit?
That PVC pipe is the condensate drain. Yes it's normal for water to condense where it will drain down. If it's backing up and overflowing then it sounds to me like the drain is plugged.
Just want to get your guys opinion on this stuff. So we did the home inspection, and the unit inside the house (condensor i guess its called?) that is attached to the air conditioner is full of water when you take off the panel.
Spoiler!
You know when you bang your wife, and your all sweaty n shit and then the room gets humid?
Well that ac dehumidifies all that sweat out of the air, so what your looking at is someone's sex sweat in a pan.
Yes it's normal
Spoiler!
if you want more details, find the pictures of the current owners
Make sure you get a new flux capacitor installed on that bad boy tho...
__________________
Quote:
Originally Posted by Mr.Money i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by mikemhg
Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
Friend of mine got back from Osoyoos as he stayed at the Watermark and sent me this listing as he loved the resort and he wants to pull a HELOC on his house and buy one of the units... He has over $1M of equity in his house.
It's one of those hotels that you can buy a room and you get revenue sharing when you don't stay in the unit.
This one is a one bedroom at $249,000. No mortgage available due to the type of real estate it is, so you need all cash. He got a hold of some of the numbers...
$38,621 Revenue
$16,826 Net, paid to owner after all expenses
$1,982 Property tax
$497 strata/month
= 3.56% annual yield on $249,000
I told him it doesn't seem like a good idea especially when you can get 5-6% on a GIC right now. Any investment right now needs to be making at least 7-8% before you invest otherwise you might as well just get GIC's as they're risk free.
Am I missing anything here?
Seriously... 3.56% is laughable at best. GIC would get him 5%+.
The only way this could make sense is if he's going to go there quite a bit, and instead of spending thousands every stay, he just goes.
But as an investment, it doesn't make any sense at all.
A decent commercial lot with AAA tenants (meaning they are pretty much impossible to default on rent payment) with 10yrs+ on the lease in US would get you 5% NNN (0 LL responsibility) with annual 2-4% increase on rent, and decent depreciation to write off from income to lower the taxes. Just FHI what cash can do nowadays in the market. These are kinda retirement properties that basically guarantees a regular income.
Friend of mine got back from Osoyoos as he stayed at the Watermark and sent me this listing as he loved the resort and he wants to pull a HELOC on his house and buy one of the units... He has over $1M of equity in his house.
It's one of those hotels that you can buy a room and you get revenue sharing when you don't stay in the unit.
This one is a one bedroom at $249,000. No mortgage available due to the type of real estate it is, so you need all cash. He got a hold of some of the numbers...
$38,621 Revenue
$16,826 Net, paid to owner after all expenses
$1,982 Property tax
$497 strata/month
= 3.56% annual yield on $249,000
I told him it doesn't seem like a good idea especially when you can get 5-6% on a GIC right now. Any investment right now needs to be making at least 7-8% before you invest otherwise you might as well just get GIC's as they're risk free.
Am I missing anything here?
I've done a few deals like this. These types of properties aren't meant to give high ROI. It's to enjoy if frequently used. That being said, 1 of the ones I've dealt with was in Whistler and the seller made $100k after 1 year of owning. The 2nd is, most of these units are owned by numbered companies to write off against their business. While I'm not sure about this specific Osoyoos listing, the one's I've dealt with is fractional ownership with percentage in land ownership (fee simple title) which some B lenders will actually allow a mortgage (ie Simplii).
I did for 3 months, furnished.
Posted it everywhere, except Airbnb (condo does not allow it at all, even with 1mo plus).
95% spam/window shoppers.
I think I had it up for 2 months before someone took it, from my experience people book a month in advance, at earliest. A couple that were in Manitoba had their friends view it, then my friend gave them the keys a few days after I left.
With that said, the lower your price, the higher chance of multiple applications, and those applications being early.
I moved all my shit into the "den" and installed a separate lock on it.
If you need to, take a 3 months application, at least that will cover 75% of the 4 months.
Came back to my unit 3 months later cleaner than I left it.
On a side note, my landlord was cock about it, tried to put a bunch of rules on me and I told him nope to every single one. Including I'm responsible for all appliance for the duration, wanted an extra xxx$/mo, etc. Eventually he folded, and let me rent it.
I gotta go through this again in a few months, inB4 he pulls the "I'm selling the unit" card on me lol
What sites or services did you post your place on though?
I have over 60 messages for my property as my tenants are moving out, and 50 of those messages are spam.
I didn't realize this until I became a landlord....
But if you hate someone and have their number, create a rental ad with an attractive price, post their number and mention to call or text only.
__________________ __________________________________________________ Last edited by AzNightmare; Today at 10:09 AM
For rent out to say close friend or family member,
I always try to tread carefully renting to tenants that are "close".
I know two people right now that are going through some BS cause relatives they rented to are being dramatic over rent increases.
If you have no problem putting your foot down and telling them to pay up or take a hike, then it's ok. Or if you know they'll be "good" people that won't cause problems, then that's fine too.
Although sometimes everything seems fine until money is brought up.
__________________ __________________________________________________ Last edited by AzNightmare; Today at 10:09 AM
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!
