Quote:
Originally Posted by Digitalis
So 4444, if you put say 1 million into Vancouver real estate when the thread started vs now selling values how much are you saying you'd be ahead?
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I'd say probably not much assuming that amount of money was invested elsewhere.
In 2012 (when the thread started), USD:CAD was roughly at par (slightly higher for CAD throughout the year as a matter of fact).
My family investment fund (my parents and my 2 uncles put together their money to invest in US) bought a commercial property for 3.5M USD in Texas in mid 2013 that generates 300k in rent NNN per year, or around 1.2M in the 4yr period. They sold it earlier this year in late Jan for 6.3M. So total earning was 6.3(sold price)+1.2(NNN rent)-3.5(original investment)=4M USD gain, or at today's rate, 5.2M in CAD.
So, for the same 3.5M CAD in 2013, if we bought a house in West Side, we probably had doubled in CAD term if lucky, so 7M CAD today. Assuming we could rent it out for 5k per month (and I'd say it's generous), that's 60k per year in rent, minus roughly 10k for taxes, insurance and maintenance cost, we are looking at 7.2M CAD. 7.2-3.5=3.7M CAD gain.
My point is... open your mind a bit... it's not just Vancouver RE that's going up in value. And when it comes to investment, pick wisely.