Investing in Kamloops BC

  • Pindy4

    Status: Forum Member

    Posts: 22
    Joined: 24 May 2011
    From:

    Anybody have information about investing in residential property in Kamloops, BC? ie. good idea, bad idea
  • kingdave

    Status: REIN™ Member

    Posts: 2
    Joined: 21 Mar 2012
    From:

     I read that a new mine is planned for the area, which should mean new jobs and an increased demand for rental properties both during construction and permanent.  Not sure of the projected numbers, so might be worth looking into.
  • erinburton

    Status: REIN™ Member

    Posts: 10
    Joined: 26 Nov 2011
    From:

    Just to weigh in on the mine project(s) in Kamloops.

    The largest mine in the area, Highland Valley Copper is just outside of Logan Lake. Many people who work there commute each day. Strong long term prospectus, which is boosted by the price of copper, gold and molybdenum.
    The newest operating mine is the New Afton Mine, owend by New Gold.

    The current mine being proposed is Ajax mine.
    As I live in the city, my opinion may be a bit biased, but will try to keep it fact based.

    Kamloops historically HATES change. A few people in the city object to every project that as an economic and environmental impact. The people who hate change, coincidentally, are opposed to Ajax.

    Personally, I am in favor of the mine. But as Don and the REIN team says, don't buy on speculation. This project is not approved (no smoke yet from construction).
    Here's what Ajax's website says:
    The Ajax project is a proposed, open-pit copper-gold mine located near and partly within the city limits of Kamloops, British Columbia.
    The proposed project is in the early stages of a rigorous environmental assessment process involving both federal and provincial government agencies. If approved, construction will begin in early 2013 and copper production in early 2015.
    We expect the mine’s construction phase to begin early in 2013, creating 580 jobs over a two-year period.  During the 23-year life of the mine, 380 long-term career opportunities will be created.


    My two cents, the potential mine is accessible from Kamloops in terms of commute and proximity, and will provide (relativley in blue-collar terms) good, stable income. This may be an area worth looking into more if (when) the mine has “smoke above it”

    Feel free to contact me if you have any questions about the area.
    Erin
  • ThomasBeyer

    Status: REIN™ Member

    Posts: 9,846
    Joined: 30 Aug 2007
    From: Alberta and BC - The Top 2 Places on the Planet to live and invest !

    In my humble opinion prices in Kamloops are still too high for the achievable rent. There are regions with more employment growth with lower prices.

    Watch for results of May 2013 election. If NDP wins, business investment in BC will fall off a cliff. We see it already today. Most Asian immigrants that fuel BC;s growth are keeping their pocket book shut, as do we. We are selling our asset on Vancouver Island.

    BC's growth is indeed mining and gas exploration, further north. I am bullish on NE BC, and pockets of lower mainland with new Port Mann bridge and South Fraser Highway connector. Vancouver will always be attractive, of course due to ocean, mountains, opera, restaurants and vibrant city.

    Vancouver Island and interior: stay away unless it cash-flows nicely right out of the gate with no rent or value increase for 8 years until 2021 (when the NDP gets turfed leaving behind a trail of red red ink, like Ontario's left leaning Liberals)

    Focusing on seniors may be a niche strategy that works.
    Thomas Beyer, Honorary REIN Member & Member REIN Advisory Board
    President, Prestigious Properties [@facebook .. @twitter]
    T: 403-678-3330 E: tbeyer at prestprop dot com - www.prestprop.com

    >>> Read here how use your RRSP or TFSA for real estate or  here for our latest investment opportunity in Alberta for as little as $20,000 <<<
    >> My book "80 Lessons Learned on the road from $80,000 to $80,000,000" is out: order it on Amazon or as an e-book for Kindle, iTunes or kobo format <<

                                  
  • sstokes

    Status: REIN™ Member

    Posts: 61
    Joined: 8 Oct 2009
    From: Kamloops, BC

    For those who think the mine is a good idea and would consider investing in Kamloops, choose your neighbourhood carefully......some are within 1 km of the proposed mine site - see here:

    http://www.kamloops.ca/ajax/pdfs/Ajax-GrowthBoundaries.pdf

    I happen to be in Thomas' camp that Kamloops is still too expensive (despite a price correction) and there are better opportunities elsewhere.  I stopped buying here 18 months ago.  Price:rent is too high.
      
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