I am from Kelowna and have been running bnb's for the last 3 years however the council just reviewed the city staff proposal which promotes a new bylaw restricting STR similarly to Vancouver. (Is expected to be approved in Q1 2019)
Keep in mind the Kelowna tourism market doest have 12 month...
A motivated seller agent will hustle and connect you with several seller agents. (Not the other way around) A slow poke or Zootopia desk (seller) agent won't help you that's why I rather rewards mine not the seller's.
Edison Reis
I would offer few extra points for your Realtor to get his attention and commitment to sell it faster.
Yes, it will cost you more money but the longer you sit on it, more money is costing you .
The lesson here is .....
Never but condos with rental restrictions mainly if they are 55+ unless...
Thomas is correct as he often is.
My five cents is ....
There's never a wrong time to buy real estate regardless the location.
But...
There's is a wrong time to sell.
As long you aren't in a hurry it always (or typically) pays off over a long period of time.
Edison
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Indeed, I agree and some markets may decline a bit as sellers will have a harder time to sell.
Merry Christmas Thomas !
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As 2017 comes to an end, what's your current state of mind ?
1- Continue seeking for investment properties and buy if makes sense.
2 - Slow down and observe the market and see how it will behave with new mortgage rules.
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We use an app called PropertyBuddy and works well for us with low cost. ( We use to manage our 2 properties which run in a STR / MDR scheme)
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I am taking that the term "overnight guests" as bedroom friends so my comment is around those lines. I may be wrong. (if related to STR)
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I would say it is a hard one to enforce.
If the tenant is having extra people often “living”there is one thing, having “overnight” guest (s) is another.
One is related to the tenancy agreement and the other with his/her private life. (Careful to not cross the line of the privacy act)
Sent...
Indeed all good points Cory and Thomas.
Luckily we bought our properties before the prices went crazy but who knows what future will bring. (If someone would’ve told me few years ago that Vancouver would be selling 1 bed condos for 1 Mio I would definitely question their sanity)
Higher interest...
I guess I can smell some of the 2017 top 10 BC cities already
Western Investor’s annual take on the top five towns to place your real estate investments in Western Canada over the next year...
I just thought I would share this stats with our network
Some highlights are:
- Population growth Up 8.4%
- Labour force Up 7.2%
- Housing starts Up 90%
- Business licenses Up 15.4%
- Household Income Up 41%
- Median house price Up 19%
- Avg rent Up...
On my “day job” I am very connected to Fort McMurray and the Oil Sands industry therefore I personally wouldn’t recommend investing there. In the next 10 to 15 years it will be extremely hard for the OS operators to be competitive (local extraction cost vs. International along with the...
Congrats for the latest release.
I really enjoyed the clock and the table showing where we stand as far as the cycle based on the individual RE business approach
Looking forward to see how BC will stack against AB
Cheers
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