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02-14-2025, 12:00 PM
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#34401
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Performance Moderator
Join Date: Jun 2001
Location: Richmond
Posts: 19,456
Thanked 21,477 Times in 7,321 Posts
Failed 333 Times in 222 Posts
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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
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in the butt
Join Date: Aug 2016
Posts: 3,599
Thanked 4,878 Times in 1,744 Posts
Failed 228 Times in 128 Posts
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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
Donk already looks like he's on fent
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02-14-2025, 01:00 PM
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#34403
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Performance Moderator
Join Date: Jun 2001
Location: Richmond
Posts: 19,456
Thanked 21,477 Times in 7,321 Posts
Failed 333 Times in 222 Posts
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Quote:
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
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I contribute to threads in the offtopic forum
Join Date: Jun 2013
Location: Burnaby
Posts: 2,626
Thanked 3,085 Times in 838 Posts
Failed 412 Times in 112 Posts
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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
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in the butt
Join Date: Aug 2016
Posts: 3,599
Thanked 4,878 Times in 1,744 Posts
Failed 228 Times in 128 Posts
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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
Donk already looks like he's on fent
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02-14-2025, 01:29 PM
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#34406
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SFICC-03*
Join Date: Mar 2002
Location: richmond
Posts: 9,492
Thanked 4,310 Times in 1,691 Posts
Failed 167 Times in 88 Posts
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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
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Orgasm Donor & Alatar owned my ass twice!
Join Date: Apr 2014
Location: Van
Posts: 6,932
Thanked 2,788 Times in 1,511 Posts
Failed 251 Times in 155 Posts
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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
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屎忽鬼
Join Date: Oct 2016
Location: Ricemond
Posts: 14,686
Thanked 16,555 Times in 6,310 Posts
Failed 584 Times in 327 Posts
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he married some native woman and she took all his money and left him destitute.
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02-14-2025, 02:19 PM
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#34409
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Captain Happy Bubble is my Homeboy
Join Date: Sep 2002
Location: van
Posts: 324
Thanked 93 Times in 33 Posts
Failed 1 Time in 1 Post
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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
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I contribute to threads in the offtopic forum
Join Date: Jun 2013
Location: Burnaby
Posts: 2,626
Thanked 3,085 Times in 838 Posts
Failed 412 Times in 112 Posts
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Quote:
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.
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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
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I *Fwap* *Fwap* *Fwap* to RS
Join Date: Nov 2012
Location: YVR
Posts: 1,510
Thanked 1,401 Times in 652 Posts
Failed 67 Times in 24 Posts
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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
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Performance Moderator
Join Date: Jun 2001
Location: Richmond
Posts: 19,456
Thanked 21,477 Times in 7,321 Posts
Failed 333 Times in 222 Posts
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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
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in the butt
Join Date: Aug 2016
Posts: 3,599
Thanked 4,878 Times in 1,744 Posts
Failed 228 Times in 128 Posts
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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
Donk already looks like he's on fent
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02-21-2025, 03:56 PM
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#34414
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I *Fwap* *Fwap* *Fwap* to RS
Join Date: Nov 2012
Location: YVR
Posts: 1,510
Thanked 1,401 Times in 652 Posts
Failed 67 Times in 24 Posts
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Quote:
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
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Wont the SFU gondola go straight through that neighborhood?
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02-21-2025, 04:48 PM
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#34415
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I *Fwap* *Fwap* *Fwap* to RS
Join Date: Mar 2013
Location: Vancouver
Posts: 1,547
Thanked 1,764 Times in 648 Posts
Failed 35 Times in 8 Posts
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Quote:
Originally Posted by noclue
Wont the SFU gondola go straight through that neighborhood?
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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
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in the butt
Join Date: Aug 2016
Posts: 3,599
Thanked 4,878 Times in 1,744 Posts
Failed 228 Times in 128 Posts
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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
Donk already looks like he's on fent
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02-21-2025, 06:04 PM
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#34417
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屎忽鬼
Join Date: Oct 2016
Location: Ricemond
Posts: 14,686
Thanked 16,555 Times in 6,310 Posts
Failed 584 Times in 327 Posts
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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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02-21-2025, 09:47 PM
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#34418
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RS Veteran
Join Date: Dec 2001
Location: Translink
Posts: 34,179
Thanked 15,729 Times in 6,653 Posts
Failed 562 Times in 377 Posts
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Gondola cutter = Badhobz
__________________
Stock & Noob Meet 2026 - Stay Tuned!
Quote:
Originally Posted by Badhobz
youre dating a panda express girl? shouldnt she be a really cheap date? also im pretty sure all panda express girls are mexican.
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02-21-2025, 09:51 PM
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#34419
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Rs has made me the man i am today!
Join Date: Sep 2004
Location: Canada
Posts: 3,406
Thanked 1,654 Times in 722 Posts
Failed 32 Times in 15 Posts
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Quote:
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.
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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
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RS has made me the bitter person i am today!
Join Date: Mar 2011
Location: Vancouver
Posts: 4,871
Thanked 5,638 Times in 2,278 Posts
Failed 123 Times in 58 Posts
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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
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Orgasm Donor & Alatar owned my ass twice!
Join Date: Apr 2014
Location: Van
Posts: 6,932
Thanked 2,788 Times in 1,511 Posts
Failed 251 Times in 155 Posts
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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
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Los Bastardo owned my ass at least once
Join Date: Mar 2006
Location: Vancouver
Posts: 6,242
Thanked 4,978 Times in 2,306 Posts
Failed 75 Times in 49 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
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Orgasm Donor & Alatar owned my ass twice!
Join Date: Apr 2014
Location: Van
Posts: 6,932
Thanked 2,788 Times in 1,511 Posts
Failed 251 Times in 155 Posts
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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
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RS has made me the bitter person i am today!
Join Date: Mar 2011
Location: Vancouver
Posts: 4,871
Thanked 5,638 Times in 2,278 Posts
Failed 123 Times in 58 Posts
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Quote:
Originally Posted by JDMDreams
Would you live there? That intersection is busy as fuck with Nanaimo being there
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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
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RS Veteran
Join Date: Dec 2001
Location: Translink
Posts: 34,179
Thanked 15,729 Times in 6,653 Posts
Failed 562 Times in 377 Posts
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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?
__________________
Stock & Noob Meet 2026 - Stay Tuned!
Quote:
Originally Posted by Badhobz
youre dating a panda express girl? shouldnt she be a really cheap date? also im pretty sure all panda express girls are mexican.
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