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02-14-2025, 12:00 PM
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#34401 | | Performance Moderator
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I have posted before, but moved to Calgary and still had my condo with no mortgage in Richmond... I didn't even think about keeping it for more than a hot couple of minutes.
Vancouver is cooked for condos as an investment, your unit would need to appreciate 5% or more yoy to outdistance what you can do with monetary investments and I just don't see that happening anymore. THat said, you have other factors to consider ie: it's not your principle residence like mine was so you'd have cap gains tax if you sold it on top of the realtor fees... might not be a great scenario for you... but for me it made no sense once you laid the numbers out, I could do at BEST a 3% return after strata and other monthly costs even without a mortgage.
I'm not getting out of real estate totally, I like it, but not in BC... I got a condo coming up in Calgary end of year and will be looking in Saskatchewan next.
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02-14-2025, 12:45 PM
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#34402 | | in the butt
Join Date: Aug 2016
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Saskatchewan? Did you not learn anything from me? 
__________________ 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 BIC_BAWS
pretty clean looking car tho... Kinda gay
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02-14-2025, 01:00 PM
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#34403 | | Performance Moderator
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Originally Posted by donk.  Saskatchewan? Did you not learn anything from me? | I learned what not to do  | |
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02-14-2025, 01:27 PM
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#34404 | | I contribute to threads in the offtopic forum
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Honestly, $300 under market rent isn't even that much.
As a landlord myself, asking for market rent from a solid tenant is silly.
The only times i've heard of landlords asking for more than the allowed amount is when the rent is like really low.
I'm looking for a tenant right now as my rental unit came up and i'm at least $300-400 below market rent because I want as many applicants as possible so I can pick and choose who I want.
That being said, it's not against RTA to ask.
Also, what is your advisor telling you to invest into? I would not be investing in real estate right now and I don't think it's a good idea to invest in the stock market on credit. The only investment I think I would invest on credit is a Mortgage Investment Corporation (MIC). If you can get a HELOC for 5% and find a MIC that pays 8-10%, I feel like MIC's are pretty safe. Even then, I probably wouldn't do it on credit.
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02-14-2025, 01:27 PM
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#34405 | | in the butt
Join Date: Aug 2016
Posts: 2,960
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__________________ 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 BIC_BAWS
pretty clean looking car tho... Kinda gay
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02-14-2025, 01:29 PM
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#34406 | | SFICC-03*
Join Date: Mar 2002 Location: richmond
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i think that's easy to say when you bought for cheap and the rent still covers all of the mortgage and then some. if you bought in say 2022 and locked into 5 years or something, then i think its safe to say anyone would want the maximum amount of rent possible. it's easier to be generous when you aren't losing money.
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02-14-2025, 01:43 PM
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#34407 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2014 Location: Van
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What happened in Saskatchewan? Please enlighten us, weren't you buying a whole complex?
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02-14-2025, 02:07 PM
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#34408 | | Willing to sell body for a few minutes on RS
Join Date: Oct 2016 Location: Ricemond
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he married some native woman and she took all his money and left him destitute.
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Geriatric Motoring Crub Member #444 | |
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02-14-2025, 02:19 PM
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#34409 | | Need my Daily Fix of RS
Join Date: Sep 2002 Location: van
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So i'm in between $500-$700 under market value for the area ( fairview). I give a range here because this condo is 500 sqft so its a little small for some.
I'm cash flow positive after property tax , insurance etc etc so I'm not crying poor by any stretch . It comes back to this is a investment and we do need to free up some cash for renos etc etc.
Advisor had mentioned a few things including a HELOC but if we are taking money out for a HELOC ostensibly we'd have larger monthly outflows and if we cant get more rent then we are tighter than before ( i know you can get HELOCS where you just roll over the interest/payment but that doesn't feel like a smart idea at this stage ).
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02-14-2025, 02:30 PM
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#34410 | | I contribute to threads in the offtopic forum
Join Date: Jun 2013 Location: Burnaby
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Originally Posted by unit i think that's easy to say when you bought for cheap and the rent still covers all of the mortgage and then some. if you bought in say 2022 and locked into 5 years or something, then i think its safe to say anyone would want the maximum amount of rent possible. it's easier to be generous when you aren't losing money. | You're definitely not wrong.
If cash flow is tight, then I guess the only option is to just ask the tenant and be frank with them about the situation. Worst case she says, no. Best case she agrees to some sort of increase.
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02-14-2025, 02:40 PM
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#34411 | | RS.net, where our google ads make absolutely no sense!
Join Date: Nov 2012 Location: YVR
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When I lived in YYC buying a condo in the prairies was financial suicide as there’s nothing but land in every direction to build more supply. Plus way higher condo fees. I knew people who bought in 2014 even after the oil bust and they still underwater or just broken even now.
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02-14-2025, 04:42 PM
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#34412 | | Performance Moderator
Join Date: Jun 2001 Location: Richmond
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Maybe up in the oilfield areas??? Calgary city prices are up anywhere from 60-100% from 2 years ago
I'm not interested in condos in Saskatchewan tho
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02-21-2025, 02:28 PM
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#34413 | | in the butt
Join Date: Aug 2016
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| https://www.rew.ca/properties/8850-l...ive-burnaby-bc
What do you guys think is wrong with this property? Id guess upcoming levies
Probably one of the few sites in burnaby where you can get a dual garage townhouse for under 1mil. Those are usually further out in coquitlam / poco area
__________________ 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 BIC_BAWS
pretty clean looking car tho... Kinda gay
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02-21-2025, 03:56 PM
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#34414 | | RS.net, where our google ads make absolutely no sense!
Join Date: Nov 2012 Location: YVR
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Originally Posted by donk. https://www.rew.ca/properties/8850-l...ive-burnaby-bc
What do you guys think is wrong with this property? Id guess upcoming levies
Probably one of the few sites in burnaby where you can get a dual garage townhouse for under 1mil. Those are usually further out in coquitlam / poco area | Wont the SFU gondola go straight through that neighborhood?
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02-21-2025, 04:48 PM
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#34415 | | Revscene.net has a homepage?!
Join Date: Mar 2013 Location: Vancouver
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Originally Posted by noclue Wont the SFU gondola go straight through that neighborhood? | Looks like right below the gondola line. They never caught the Sea to Sky Gondola cable cutter right? I wouldn't think it'd fall otherwise.  | |
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02-21-2025, 05:41 PM
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#34416 | | in the butt
Join Date: Aug 2016
Posts: 2,960
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They are building a gondola? :O never even heard of this.
Dont see why this would be an issue although, they run silent.
__________________ 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 BIC_BAWS
pretty clean looking car tho... Kinda gay
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02-21-2025, 06:04 PM
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#34417 | | Willing to sell body for a few minutes on RS
Join Date: Oct 2016 Location: Ricemond
Posts: 10,324
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until you hear the screams of the people falling from da gondola CUTTER!!!!
nice usage of people's tuition gays. instead of throwing it into additional educators, or programs, or even giving some back to the kids in bursaries, keep funnelling more retards up the mountain to grow your $$$$ pool.
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Geriatric Motoring Crub Member #444 | |
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02-21-2025, 09:47 PM
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#34418 | | RS Veteran
Join Date: Dec 2001 Location: GTA
Posts: 30,318
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Gondola cutter = Badhobz
__________________ Quote:
Originally Posted by BIC_BAWS I literally do not plan on buying another vehicle in my lifetime, assuming it doesn't get written off. | Quote:
Originally Posted by Badhobz I think she’s one of those weirdos who gets off on feeding fat fucks. Pretty sure she feeds me and then goes home to cook her own baooo yuuu with supreme sauce | | |
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02-21-2025, 09:51 PM
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#34419 | | Rs has made me the man i am today!
Join Date: Sep 2004 Location: Canada
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Originally Posted by donk. They are building a gondola? :O never even heard of this.
Dont see why this would be an issue although, they run silent. | Gondola talks were always a thing for the last 10 years, maybe longer
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02-22-2025, 07:18 AM
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#34420 | | I *heart* Revscene.net very Muchie
Join Date: Mar 2011 Location: Vancouver
Posts: 3,531
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| https://www.zealty.ca/mls-R2963515/2...-Vancouver-BC/
This seems like a pretty reasonable price for the area and a very nice place for the right person. The place was built by a white guy ( https://www.iconco.ca/featured-in/a-...ing-its-legacy) and I recall the challenges of him working with the city to make it happen.
Shame the retail building next to it still has no one in it - ideal for a coffee shop. 
__________________
Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
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02-22-2025, 10:42 AM
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#34421 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2014 Location: Van
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Would you live there? That intersection is busy as fuck with Nanaimo being there
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02-22-2025, 10:51 AM
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#34422 | | RS has made me the bitter person i am today!
Join Date: Mar 2006 Location: Vancouver
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Thanked 3,464 Times in 1,616 Posts
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So this thread was created on the premise of the real estate market bubble popping.
13 years later, we are finally seeing a real correction in the condo market.
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02-22-2025, 11:04 AM
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#34423 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2014 Location: Van
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You mean Canadian recession? I wouldn't really call it a bubble as I think prices have bottomed given that there will be more rate cuts to boost the economy and demand. Also I still think there is gonna be a shortage of supply in 26 27 as no one really is building in the last 2 years with these rates. So once this current new supply from Corona runs out, there will be another shortage as nothing else really has been built lately.
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02-22-2025, 11:50 AM
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#34424 | | I *heart* Revscene.net very Muchie
Join Date: Mar 2011 Location: Vancouver
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Originally Posted by JDMDreams Would you live there? That intersection is busy as fuck with Nanaimo being there | Younger, pre-kid me would enjoy living in a place like that. Walking distance to my parents, T&T, transit, amenities (the good Church's Chicken for one). If a nice coffee shop/bakery were next door it'd be a dream.
I don't find that intersection that busy at all (and I've lived near there for a long time) but I'd be one of those residents that would lobby the city hard for a roundabout to go in there.
__________________
Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
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02-22-2025, 11:55 AM
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#34425 | | RS Veteran
Join Date: Dec 2001 Location: GTA
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I share the same thoughts as supafamous. That in intersection is not as busy as say Nanaimo and E. 33rd. That right there is the clusterfuck. Once you pass E. 33rd south, it quiets down. Having a roundabout would calm traffic down and a coffee shop in that vacant space would be the cherry on top to drive some local foot traffic.
Is the corner store for sale as part of the house? Or is it seperate?
__________________ Quote:
Originally Posted by BIC_BAWS I literally do not plan on buying another vehicle in my lifetime, assuming it doesn't get written off. | Quote:
Originally Posted by Badhobz I think she’s one of those weirdos who gets off on feeding fat fucks. Pretty sure she feeds me and then goes home to cook her own baooo yuuu with supreme sauce | | |
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