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 > Automotive Chat > Vancouver Off-Topic / Current Events

Vancouver Off-Topic / Current Events The 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.

Reply
 
Thread Tools
Old 04-19-2013, 12:33 PM   #101
Captain Happy Bubble is my Homeboy
 
CA_FTW's Avatar
 
Join Date: Feb 2009
Location: Around the Town
Posts: 303
Thanked 65 Times in 29 Posts
Failed 10 Times in 6 Posts
I think the idea of the small living space is great..

I wouldnt live in it, i need my space. But for some people it works..

However i dont see this as a good investment.

What would Garth Say:
Greater Fool

There are way better investment options out there for getting a return on your $$..

As for Equity, I dont really see it. When you buy a condo/apartment what do you get? nothing really there is no ground you can plant flowers on, or Bury you dead Hamster. and your stuck paying Strata fee's even after you have paid it off.

As for the location Surrey is doing great. every area of the Lower mainland has its good and bad Area's.

They are really cleaning Surrey up.
Advertisement
__________________
CA_FTW Says ^^^^^^^^^^
CA_FTW is offline   Reply With Quote
This post thanked by:
Old 04-19-2013, 12:45 PM   #102
To me, there is the Internet and there is RS
 
Manic!'s Avatar
 
Join Date: Apr 2004
Location: Nanaimo
Posts: 16,544
Thanked 7,713 Times in 3,626 Posts
Failed 1,507 Times in 645 Posts
Quote:
Originally Posted by dinosaur View Post
I don't really agree with this. $400\month for a basement suit is almost unheard of.

I think that rent on these units would $650+ depending on location of the suit.

Like I said in a previous post, I have some bachelor apartments in my building and the are priced $650 (1st floor)-$720 (3rd floor). I can't keep them on the market and my phone rings all the time with people wanting bachelors. There are BY FAR the easiest things to rent....they are the same size but a lot older, no dishwasher, and no laundry. They are clean, etc....but certainly not updated, etc.
Isn't the problem that almost every house in surrey has 1 or 2 basement suites so the market is flooded.
__________________
Until the lions have their own historians, the history of the hunt will always glorify the hunter.
Manic! is offline   Reply With Quote
Old 04-19-2013, 01:42 PM   #103
Banned By Establishment
 
Join Date: Feb 2009
Location: bedroom
Posts: 3,112
Thanked 3,492 Times in 1,176 Posts
Failed 441 Times in 145 Posts
A lot of people I talk to DO NOT want to live in a basement suit. They give a variety of reasons ranging from noise...condition of most units...too far away from transit...people don't want to live on the ground floor or semi-subsurface...and some like living in professionally maintained properties.

At the end of the day though, to each their own.
dinosaur is offline   Reply With Quote
Old 04-19-2013, 02:37 PM   #104
My homepage has been set to RS
 
falcon's Avatar
 
Join Date: Jun 2006
Location: Deutschland
Posts: 2,402
Thanked 900 Times in 387 Posts
Failed 395 Times in 107 Posts
Quote:
Originally Posted by drunkrussian View Post
People don't plan on getting rich and staying in surrey.
.
Yeah, let me go tell that to all my friends parents who live in gorgeous houses on acreage all over Surrey. Likely worth tons more than a typical "Vancouver" house on a tiny lot in East Van.
__________________
FOR SALE: 14'' MR2 MK1 wheels with 90% rubber $130, FD RX7 Transmission $200, Hitch Mount Snowboard/Ski rack w/ THULE clamps, locks $200. PM me for details!

If this is still in my sig, it's still avail.
falcon is offline   Reply With Quote
This post thanked by:
Old 04-19-2013, 02:43 PM   #105
Willing to sell a family member for a few minutes on RS
 
westopher's Avatar
 
Join Date: Apr 2011
Location: North vancouver
Posts: 12,757
Thanked 32,637 Times in 7,615 Posts
Failed 214 Times in 162 Posts
There is NO chance I'd consider living in one of those. However, affordable housing is a necessity, and if affordable housing can be available, without any massive government subsidies, thats always a good thing. Theres no clause in the real world need for housing that says under a certain size is "unfair" or "unliveable." Theres a kitchen, a shower, 4 walls and a roof, and if it needs to be that small for someone to afford it, its good that it exists.
westopher is offline   Reply With Quote
This post thanked by:
Old 04-19-2013, 02:49 PM   #106
Banned By Establishment
 
Join Date: Feb 2009
Location: bedroom
Posts: 3,112
Thanked 3,492 Times in 1,176 Posts
Failed 441 Times in 145 Posts
Quote:
Originally Posted by drunkrussian View Post
People don't plan on getting rich and staying in surrey.
Yeah....Falcon brings a good point.

If I were to plan on getting "rich", where should I move?
dinosaur is offline   Reply With Quote
Old 04-19-2013, 02:50 PM   #107
My homepage has been set to RS
 
falcon's Avatar
 
Join Date: Jun 2006
Location: Deutschland
Posts: 2,402
Thanked 900 Times in 387 Posts
Failed 395 Times in 107 Posts
I would move out to South Surrey/Langley/Aldergrove and buy land with a nice house on it. Have a nice garage, RV, boat, pool, a bunch of cars all for 10x less what the same would cost in Vancouver.
__________________
FOR SALE: 14'' MR2 MK1 wheels with 90% rubber $130, FD RX7 Transmission $200, Hitch Mount Snowboard/Ski rack w/ THULE clamps, locks $200. PM me for details!

If this is still in my sig, it's still avail.
falcon is offline   Reply With Quote
Old 04-19-2013, 02:55 PM   #108
Willing to sell a family member for a few minutes on RS
 
westopher's Avatar
 
Join Date: Apr 2011
Location: North vancouver
Posts: 12,757
Thanked 32,637 Times in 7,615 Posts
Failed 214 Times in 162 Posts
Quote:
Originally Posted by drunkrussian View Post
People don't plan on getting rich and staying in surrey.
Tell that to canadian rock royalty power couple.

Spoiler!
westopher is offline   Reply With Quote
Old 04-19-2013, 02:59 PM   #109
Wanna have a threesome?
 
MindBomber's Avatar
 
Join Date: Oct 2010
Location: Squamish
Posts: 4,889
Thanked 5,054 Times in 1,657 Posts
Failed 439 Times in 203 Posts
Quote:
Originally Posted by westopher View Post
Tell that to canadian rock royalty power couple.
George Melville (Boston Pizza) also owns a home in Surrey.

Guess you're not rich in Vancouver unless you're a billionaire.

Last edited by MindBomber; 04-19-2013 at 03:08 PM.
MindBomber is offline   Reply With Quote
Old 04-19-2013, 05:17 PM   #110
My homepage has been set to RS
 
drunkrussian's Avatar
 
Join Date: Dec 2008
Location: Vancouver
Posts: 2,308
Thanked 825 Times in 341 Posts
Failed 203 Times in 77 Posts
guys i gotta admit i was trolling lol
Posted via RS Mobile
drunkrussian is offline   Reply With Quote
This post thanked by:
This post FAILED by:
Old 04-19-2013, 05:58 PM   #111
Everyone wants a piece of R S...
 
Join Date: Feb 2013
Location: canada
Posts: 391
Thanked 1,046 Times in 163 Posts
Failed 183 Times in 37 Posts
There is no chance in hell I would live there.
VRYALT3R3D is offline   Reply With Quote
Old 04-19-2013, 09:07 PM   #112
I contribute to threads in the offtopic forum
 
Join Date: Jun 2006
Location: not vancouver
Posts: 2,642
Thanked 1,941 Times in 765 Posts
Failed 532 Times in 202 Posts
Quote:
Originally Posted by westopher View Post
There is NO chance I'd consider living in one of those. However, affordable housing is a necessity, and if affordable housing can be available, without any massive government subsidies, thats always a good thing. Theres no clause in the real world need for housing that says under a certain size is "unfair" or "unliveable." Theres a kitchen, a shower, 4 walls and a roof, and if it needs to be that small for someone to afford it, its good that it exists.
But why do u need to own a low income home? I would hope low income homes would be rented, so that people will work hard and hopefully get out of needing low income homes
4444 is offline   Reply With Quote
Old 04-19-2013, 09:14 PM   #113
Banned By Establishment
 
Join Date: Feb 2009
Location: bedroom
Posts: 3,112
Thanked 3,492 Times in 1,176 Posts
Failed 441 Times in 145 Posts
4444:

You mentioned earlier that would would never invest in a condo. Why? Is it because the market is saturated? What type of property would you (or do you) invest in?

Cole's Notes version?
dinosaur is offline   Reply With Quote
Old 04-19-2013, 09:19 PM   #114
RS has made me the bitter person i am today!
 
Join Date: Apr 2002
Location: Coquitlam
Posts: 4,846
Thanked 722 Times in 275 Posts
Failed 86 Times in 38 Posts
Quote:
Originally Posted by dinosaur View Post
Its in an up and coming area with tons of new development (shopping, restaurants, condos, and townhomes)...steps to the skytrain...a block from SFU Surrey....20 mins to Vancouver.
Dude, are you the same guy on the radio?
I hear the same line on the radio everyday, one of the condo advertisement
ImportPsycho is offline   Reply With Quote
This post thanked by:
Old 04-19-2013, 09:30 PM   #115
Banned By Establishment
 
Join Date: Feb 2009
Location: bedroom
Posts: 3,112
Thanked 3,492 Times in 1,176 Posts
Failed 441 Times in 145 Posts
Quote:
Originally Posted by ImportPsycho View Post
Dude, are you the same guy on the radio?
I hear the same line on the radio everyday, one of the condo advertisement
Yes. Yes, I am.
dinosaur is offline   Reply With Quote
This post thanked by:
Old 04-19-2013, 09:49 PM   #116
What hasn't Killed me, has made me more tolerant of RS!
 
Join Date: Jul 2012
Location: van island
Posts: 172
Thanked 71 Times in 27 Posts
Failed 37 Times in 10 Posts
Do you get commission or something if these get sold?
Messerschmitt is offline   Reply With Quote
This post FAILED by:
Old 04-19-2013, 10:09 PM   #117
I WANT MY 10 YEARS BACK FROM RS.net!
 
Join Date: May 2005
Posts: 20,406
Thanked 7,468 Times in 1,445 Posts
Failed 2,380 Times in 472 Posts
It could be a good start if parents want their kids to move out the house after highschool. They want to have a house party? then start making more money.

I can't imagine how difficult it is to collect rent from the low-income, people probably trash your place or steal your TV before they leave.
asian_XL is offline   Reply With Quote
Old 04-19-2013, 10:44 PM   #118
Banned By Establishment
 
Gridlock's Avatar
 
Join Date: Dec 2003
Location: New West
Posts: 3,998
Thanked 2,982 Times in 1,135 Posts
Failed 284 Times in 109 Posts
Quote:
Originally Posted by asian_XL View Post

I can't imagine how difficult it is to collect rent from the low-income, people probably trash your place or steal your TV before they leave.
I will say two things about them. One: They inevitably believe their value in your world is higher than the one you would place on them. And two: not a single one of them consider Mr.Clean a good investment in their lives.
Gridlock is offline   Reply With Quote
Old 04-20-2013, 07:07 AM   #119
I contribute to threads in the offtopic forum
 
Join Date: Jun 2006
Location: not vancouver
Posts: 2,642
Thanked 1,941 Times in 765 Posts
Failed 532 Times in 202 Posts
Quote:
Originally Posted by dinosaur View Post
4444:

You mentioned earlier that would would never invest in a condo. Why? Is it because the market is saturated? What type of property would you (or do you) invest in?

Cole's Notes version?
I can only try to be brief

I buy single family detached homes (<10 yrs old, but never new, ever the nicest house in the 'hood, and always some kind of premium factor about the plot/property - house just needs to be nice, clean, and good enough for me to live in), I plan on eventually getting into commercial and whole condo buildings, but never a single condo (unless the deal is amazing) for the following reasons:

Yes, market is pretty darn saturated. As you don't really own the land (I can't knock down and rebuild, or rezone, etc. the value of a condo is merely its cash flow potential. Given rents relative to price are at all time lows, they fail on this metric

Other ppl! Other people can do things like flood their condo... Which floods urs, less risk of that in a single family (non townhouse).

Building issues - condos in Vancouver are built to shit quality conditions.. They will all require a lot of work and thus owners will have special assessments. If u buy a house with a good inspection and are relatively handy/knowledgeable, u mitigate this risk for a single family. Also, given the size and ability to easily work on a wood, single family home, costs will be lower on repairs vs a major condo repair (it's hard to do an apples to apples comparison)

Strata/maintenance fees - I fear this money is not efficiently used. The building I rent in (for way way way way way way way less than what u'd pay to own this place) is terribly run, but ppl say the current management is a huge step up from before - it must have been atrocious before!!

Living so close to people - having a shite neighbour can make ur condo unrentable - I don't want a douchebag neighbour (and their are plenty of them in Vancouver) effecting my investment

Ability to knock down and rebuild, rezone, etc.

Clientele - personally, I don't want ur typical condo dweller, a young professional as a tenant, for a reason - whether professional or not, I find young ppl are heavy handed with things. Young professionals are often single, but end up meeting someone and moving out - I want tenants for a long time, makes my life easier if I just see money in every month with no headaches. So, I want young families, newly married ppl with a baby are great, they're looking to establish roots, stay in a curtain school area, etc. and chances are a move to a new place may be a stress they don't want (with a, or many kids)

Just my thoughts on real estate investments - things can changed based on the deal... But as things stand, that's what I buy/own. Remember, my properties aren't on Canada... When prices come down 40% I will start buying here - and that is a when, not an if
4444 is offline   Reply With Quote
This post thanked by:
Old 04-20-2013, 07:07 AM   #120
I contribute to threads in the offtopic forum
 
Join Date: Jun 2006
Location: not vancouver
Posts: 2,642
Thanked 1,941 Times in 765 Posts
Failed 532 Times in 202 Posts
^ I failed on being brief, sorry
4444 is offline   Reply With Quote
Old 04-20-2013, 08:03 AM   #121
I told him no, what y'all do?
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 10,163
Thanked 6,023 Times in 2,615 Posts
Failed 105 Times in 67 Posts
Quote:
Originally Posted by ImportPsycho View Post
Dude, are you the same guy on the radio?
I hear the same line on the radio everyday, one of the condo advertisement





__________________
Feedback
http://www.revscene.net/forums/showthread.php?t=611711

Quote:
Greenstoner
1 rat shit ruins the whole congee
originalhypa
You cannot live the life of a whore and expect a monument to your chastity
Quote:
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat

GLOW is offline   Reply With Quote
This post thanked by:
Old 04-20-2013, 08:05 AM   #122
2x Variable Nockenwellen Steuerung
 
Join Date: Oct 2002
Location: N49.2 W122.1
Posts: 6,176
Thanked 1,174 Times in 704 Posts
Failed 67 Times in 51 Posts
Having the chance to interact with a few of them, I realize the majority have some kind of developmental issue usually ADD spectrum, mental issues (usually manic).. and their world view is so small that they think they are the king of the world. What bugs me is once they "recover" from substance abuse, they invariably manage to get disability from the Gov., so free rent and free post secondary education for the rest of their lives. I won't be surprised there is some type of Revscene equivalent for them to exchange ideas to "optimise" their return from the system.

Quote:
Originally Posted by Gridlock View Post
I will say two things about them. One: They inevitably believe their value in your world is higher than the one you would place on them. And two: not a single one of them consider Mr.Clean a good investment in their lives.

Last edited by godwin; 04-20-2013 at 08:12 AM.
godwin is offline   Reply With Quote
This post thanked by:
Old 04-20-2013, 08:12 AM   #123
Everyone wants a piece of R S...
 
Join Date: Feb 2013
Location: canada
Posts: 391
Thanked 1,046 Times in 163 Posts
Failed 183 Times in 37 Posts
The unit is so small, I cant see this being a good investment.

Rental income is larger when you have more bedrooms. Rental income increases when there is more sq. footage. Resale is the biggest reason.

Appreciation is based on the PAST 5 years performance to project the next 5 years performance.

Investment properties are purely based on return on investment.
VRYALT3R3D is offline   Reply With Quote
Old 04-20-2013, 08:34 AM   #124
Banned By Establishment
 
Gridlock's Avatar
 
Join Date: Dec 2003
Location: New West
Posts: 3,998
Thanked 2,982 Times in 1,135 Posts
Failed 284 Times in 109 Posts
Quote:
Originally Posted by 4444 View Post
I can only try to be brief
Spoiler!
Yeah, to anyone that is thinking about real estate investing, or just trying to learn about it-this sums it up nicely.

I have worked in a fair amount of pricey condos in your precious downtown...and they are all shit. My favorite was the one down by BC Place that had concrete you could surf. I had quoted on floors and painting, and they went with the other guy for floors as he was willing to grind into the floors to level them for far less than I was. The floors were still shit, but it wasn't his fault. Had to take out over an inch. He went with a jackhammer.

Then, you get the condo people on your ass, because its louder than shit...and they start complaining about everything else.

I totally agree with you on young people in renting. We've been working over the years to take our main building to a "mid-market" level, where its condo quality, and condo style at obviously less money than a condo. We get a lot of the young pros and semi-pros and they are annoying.

They are better though, than the whatever the hell word you'd use to describe the group we had here when we started. Oh...desperate. That's the word I'd use. But when you look at someone and say "1 year lease" and they get this look of panic in their eyes...its crazy. I'm sorry...you actually WANT to move more than once a year?

And, I'll warn anyone...dealing with tenants sucks. We hold onto the idea that what we do is way better than getting in the car every morning and driving to an office...but it comes with drawbacks. Some act like customers-which they kind of are, but not really. Everything needs to be done now. No waits. Oh...and for some, renting seems to be like christmas, and they come to you with their wish lists.

I have run a ton of scenarios on renting out condos. Even with my materials only reno budget, and ignoring my time completely...I can't make it work. You are the last to get paid. The mortgage guys...they get their money. The strata people take theirs. You get what you can squeeze out at the end. And you can face a tenant that moves out in december or january and the apartment sits for a month. I had a couple people move in those months at my one building and I had to drop the apartments pants to bottom dollar to get it to move. Even with a shitty, older condo here in the 'burbs, you are 10 months in at 100 a month to recoup one lost month of rent at cost only $1000...almost a year!

High risk should be high reward. And it used to be. I'd take that deal in a heartbeat if my property was accruing equity at 10% a year(say...2000 to 2007). You can make up cash flow on sale.

And how sad is it that I can't even use free labor to make the math work?
Gridlock is offline   Reply With Quote
This post thanked by:
Old 04-20-2013, 10:12 AM   #125
I told him no, what y'all do?
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 10,163
Thanked 6,023 Times in 2,615 Posts
Failed 105 Times in 67 Posts
Quote:
Originally Posted by Gridlock View Post
I had quoted on floors and painting, and they went with the other guy for floors as he was willing to grind into the floors to level them for far less than I was. The floors were still shit, but it wasn't his fault. Had to take out over an inch. He went with a jackhammer.
so what's the chance they did any scanning beforehand to ensure there are no live electrical conduits in slab before they started chipping?
__________________
Feedback
http://www.revscene.net/forums/showthread.php?t=611711

Quote:
Greenstoner
1 rat shit ruins the whole congee
originalhypa
You cannot live the life of a whore and expect a monument to your chastity
Quote:
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat

GLOW 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 06:01 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