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01-11-2024, 09:20 AM
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#29651 | | I have named my kids VIC and VLS
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Originally Posted by PeanutButter  No such thing as easy money. I hate it when people say, 'it must be nice'. They completely negate any hard work or time that was done to get to that point. | Kids inheriting parents wealth from what sounds like former slum lords where the kids can’t be bothered to do some basic work to maintain the already in-place business. Woe is me.
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01-11-2024, 09:23 AM
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#29652 | | Performance Moderator
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I think he means that somewhere along the line, someone worked their ass off... in this case their parents likely didn't make that money easily
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01-11-2024, 11:46 AM
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#29653 | | To me, there is the Internet and there is RS
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They had to work a bit, but a good portion of why their returns on real estate are so large is mostly due to factors outside their control. Nothing any one person can do has had as big of an impact as the general growth of the lower mainland over the last several decades.
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01-11-2024, 11:49 AM
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#29654 | | To me, there is the Internet and there is RS
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I own a Condo in Maple Ridge. I have never seen the inside of the Condo. Property manager handles everything including repairs for me. If anyone needs a good Property manager let me know.
PeanutButter if your client wants to sell let me know. We can make an offer.
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01-11-2024, 12:19 PM
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#29655 | | Rs has made me the woman i am today!
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Originally Posted by bcrdukes Imagine your client is on Revscene and is reading this. | I thought about changing my name on this forum because of this 
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01-11-2024, 01:48 PM
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#29656 | | RS Veteran
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Originally Posted by Manic! I own a Condo in Maple Ridge. I have never seen the inside of the Condo. Property manager handles everything including repairs for me. If anyone needs a good Property manager let me know.
PeanutButter if your client wants to sell let me know. We can make an offer. | PeanutButter: "Hi Client, I know someone who is willing to make an offer on your dwelling."
Client: "How do you know this person?"
PeanutButter: "Oh, I actually don't. It's someone on a car forum."
Client: "Show me the link." 
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01-11-2024, 02:44 PM
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#29657 | | My homepage has been set to RS
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Originally Posted by Manic! I own a Condo in Maple Ridge. I have never seen the inside of the Condo. Property manager handles everything including repairs for me. If anyone needs a good Property manager let me know.
PeanutButter if your client wants to sell let me know. We can make an offer. | I'll keep the thread updated and i'll let you know.
I suspect it was more of a therapy session (for now), but I know from experience, that when there is a large asset and multiple kids are involved, it usually results in liquidation.
edit; Also, just curious on why you would want to buy a 12 unit rental apartment? Surely, the numbers will be cashflow negative, probably by a large margin. Vancouver real estate seems to be a horrible investment at this point in time.
Last edited by PeanutButter; 01-11-2024 at 02:52 PM.
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01-11-2024, 02:46 PM
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#29658 | | RS has made me the bitter person i am today!
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I know nothing about this, but at that level would you just maybe choose to run it as a trust? so you get infinite money and not let your kids blow it, leave for grand kids for future generations?
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01-11-2024, 06:56 PM
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#29659 | | in the butt
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Originally Posted by PeanutButter edit; Also, just curious on why you would want to buy a 12 unit rental apartment? Surely, the numbers will be cashflow negative, probably by a large margin. Vancouver real estate seems to be a horrible investment at this point in time. | When people want to get rid of something in the real estate world, and want nothing to do with it, they often leave cash moneys on the table
And thats worth looking into
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01-11-2024, 08:37 PM
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#29660 | | My homepage has been set to RS
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Originally Posted by JDMDreams I know nothing about this, but at that level would you just maybe choose to run it as a trust? so you get infinite money and not let your kids blow it, leave for grand kids for future generations? | I'm Canada there's a 21 year rule where all property inside is considered vested, so you have to pay tax.
I'm not an expert but I was looking into trusts, but they didn't seem worth it because of that 21 year rule.
I guess the government wants to get paid.
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01-13-2024, 01:45 PM
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#29661 | | To me, there is the Internet and there is RS
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Put my maple ridge condo on sale yesterday. Got a call today it has been sold for 2k less than listing. A family member of the tenant is buying it.
That is nuts.
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01-13-2024, 06:11 PM
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#29662 | | RS has made me the bitter person i am today!
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Why's it nuts? Good price or bad price? Wouldn't you get more in 6 months when rates drop?
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01-13-2024, 06:27 PM
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#29663 | | To me, there is the Internet and there is RS
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Originally Posted by JDMDreams Why's it nuts? Good price or bad price? Wouldn't you get more in 6 months when rates drop? | I didn't think it would sell so fast. My brother had a unit in the same building and he only got 12K more 6 months ago after 20k in Reno's.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
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01-15-2024, 12:01 PM
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#29664 | | private modder
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Originally Posted by 68style NO idea... I think he was just hoping I'd pay it with no questions.
His exact words were: "The strata council has decided that 8 feet is still within your unit and you are responsible for the bill" but I texted someone I know on the council and he was like.. uh... no?
Even if that was the case though, did they check building schematics? Or just sounds like it probably is 8 feet isn't that far LOL... in my case though, my sink is right next to the nothern most wall of my building... 8 feet by my measurements is already out the horizontal pipe going out of the under-sink area, meets up with the perpendicular pipe that everyone drains into from all 6 floors and then down into the parkade where it turns and goes horizontal again above some poor fucker's Nissan Rogue that go doused with brown spew when they pulled the caps off the pipe a couple weeks back.
Crazy ass people. | Quote:
Originally Posted by 68style It's one of those things where it's kind of funny if you're not in the middle of it... but if everyone is being obtuse it's hard to prove your point.
The invoice is made out to the strata... I made sure to call the management company every time something happened and they made the call to bring a plumber in on my behalf. | sorry I am late to the game here.
So the first thing you should do is check if your Strata has a Chargeback Bylaw. Without that, they can't actually charge back the cost to you, even if they think you caused the issue.
But even with a chargeback bylaw, the relevant section of the Strata Property Act is here:
Section 1 of the Act sets out a definition for common
property which includes:
(a) that part of the land and buildings shown on a
strata plan that is not part of a strata lot, and
(b) pipes, wires, cables, chutes, ducts and other
facilities for the passage or provision of water,
sewage, drainage, gas, oil, electricity, telephone,
radio, television, garbage, heating and cooling
systems, or other similar services, if they are
located
(i) within a floor, wall or ceiling that forms a
boundary
(A) between a strata lot and another
strata lot,
(B) between a strata lot and the common
property, or
(C) between a strata lot or common
property and another parcel of land, or
(ii) wholly or partially within a strata lot, if they
are capable of being and intended to be used in
connection with the enjoyment of another strata
lot or the common property.
I dont' think this council has a very good chance of proving that you are responsible for a clogged pipe 8 feet away in the walls from your unit. You can quote them this section of the Act and tell them it's common property and therefore it's their responsiblity and if they still don't agree, then you can request a hearing with the council and they are required to give you one within 2 weeks I believe. This should be open and shut IMO.
Last edited by Eff-1; 01-15-2024 at 12:08 PM.
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01-15-2024, 01:37 PM
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#29665 | | RS has made me the bitter person i am today!
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01-15-2024, 02:24 PM
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#29666 | | I have named my kids VIC and VLS
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Can’t wait to ball with dat 2%
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01-16-2024, 09:46 AM
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#29667 | | My homepage has been set to RS
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Putting our condo up for sale in the next few weeks. Nervous as hell with how the market has been. One unit has been up for sale in our complex for a few months. Owners keep pulling it off the market and relisting it.
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01-16-2024, 10:53 AM
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#29668 | | RS has made me the bitter person i am today!
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My building had the 2 units sitting for 120 - 365 days finally sold and at a decent price too.
Roughly 20-25% above 2020 purchase price.
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01-16-2024, 11:09 AM
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#29669 | | RS.net, helping ugly ppl have sex since 2001
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You’d be surprised how fast the market is for certain things. I didn’t think we sell our old place either given the age, small house, etc. but it did sell and we got a decent price for it even in this economy.
Although I kinda think I should have kept it till the market heats up even more and then cash out an extra 100-200k but whatever. I don’t wanna deal with non blowjob realtors anymore and flakey ass retarded buyers.
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01-16-2024, 11:21 AM
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#29670 | | RS has made me the bitter person i am today!
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People always forget that at a certain price, real estate moves quick.
a difference of 1-8% on current year recent selling price can trigger an instant sale.
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01-16-2024, 11:51 AM
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#29671 | | I *Fwap* *Fwap* *Fwap* to RS
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I’m of the opinion prices are stable here - in my circle, realtors are mentioning things are picking back up while buyers who have been waiting on the sidelines are stepping in.
The caveat is how many people will list their properties for sale this year, either as a result of 1) deleveraging or 2) upgrading or downsizing.
Just this January I’ve heard a few corporations slash headcount after the new year. Effects are still working through.
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01-16-2024, 12:13 PM
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#29672 | | private modder
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Are you guys adding subject to sale in your offers right now?
Our realtor is suggesting that in the North Van market, subject to sale is still not a thing and that he hasn't seen it in 12 plus years, nor in any of his current offers.
But our mortgage broker is insisiting it, saying that we'll never qualify for the larger mortgage without selling ours first, and it's too large a risk.
I know in the Fraser Valley the market is much colder and that's different, but thinking specifically of the North Shore, Burnaby or East Van right now.
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01-16-2024, 12:17 PM
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#29673 | | Rs has made me the woman i am today!
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Originally Posted by Eff-1
Our realtor is suggesting that in the North Van market, subject to sale is still not a thing and that he hasn't seen it in 12 plus years, nor in any of his current offers.
| because those craftsman houses will never pass a home inspection 
what area are you looking at?
__________________ There's a phallic symbol infront of my car Quote: |
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01-16-2024, 12:18 PM
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#29674 | | RS.net, helping ugly ppl have sex since 2001
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Subject to sale ? I wouldn’t even consider the offer unless it’s ridiculously over what I wanted. No way.
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01-16-2024, 12:30 PM
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#29675 | | RS.net, helping ugly ppl have sex since 2001
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Originally Posted by Liquid_o2 Putting our condo up for sale in the next few weeks. Nervous as hell with how the market has been. One unit has been up for sale in our complex for a few months. Owners keep pulling it off the market and relisting it. | Not all units are equal though I wouldn't necessarily be worried. Maybe their price is too high, maybe they have some sort of issues in the unit, maybe it's not a preferred unit location, the list goes on. I've seen quite a few times the same scenario where a unit is sitting and sitting and all the while other people with the same unit plan wise sells quickly. Either way best of luck!
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