Quote:
Originally Posted by Lord Disick
And it was the same guy talking about buying a BMW i8 to flip? What's the story with this guy?
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No, the i8 flipping guy was me and I'm just a lucky semen whose parents provide me access to investment funds/lenders rather than working on my own account.
I think Vancouver's RE needs to come back to fundamentals, or at least close to it.
To give a perspective, I just closed an investment property in US. The unit generates U$6000/mth in income triple net in a nice area with potential to grow given its continuos increase in population. All this for less than 1M CDN.
What would 1M CDN get me in Vancouver? A crackpot in East Van...
I mean, I like Van as a whole and am planning to move back later this year for my son (IMO the weather is just so much better than here). But when discussing RE by itself, Vancouver's RE is totally out of whack. Take the investment property I mentioned above, I could rent a fricken mansion for $5000 (roughly what's left after taxmen) a month in Van. Why bother with buying it?