Recent content by ThomasBeyer

  1. ThomasBeyer

    Are small cities of 30-40k of population safe to invest in?

    If long term hold is the plan and selling liquidity less relevant then certainly consider smaller towns. Keep in mind though that fixing a roof, a leaky bathtub or hallway carpets will be as expensive as in big cities but rents do not correspondingly go up as much. However you can do very well...
  2. ThomasBeyer

    Getting property under contract

    Get clarity on mortgage first as getting one is very tough these days. Sent from my iPhone using myREINspace
  3. ThomasBeyer

    First time home buyer plan

    A sound strategy if you can get the mortgage / LOC. What’s your main source of income to qualify for LOCs and mortgages ? Sent from my iPhone using myREINspace
  4. ThomasBeyer

    BRRRR in condo

    Some condos are cheaper for a reason: noisy, close to garage entrance, unsafe, no sunlight etc .. so ensure that you compare like to Iike. You can fix certain things like flooring or kitchen but some things you cannot say facing NE with no sunlight or noise due to certain building...
  5. ThomasBeyer

    Become Mortgage Free in 10 Years

    Of course in theory we do not need schools, universities, education centres or events .. as most knowledge is online Yet: why do schools, universities, education centres or events still exist today ? In theory, there is no difference between theory and practice. In practice, there is. Thomas...
  6. ThomasBeyer

    Looking for a home builder coach

    REIN offers a coaching program. Sent from my iPad using myREINspace
  7. ThomasBeyer

    Looking for a home builder coach

    Hire a general contractor (GC) that knows what he (or she) is doing, knows local trades and has a history of doing similar work. Do NOT do it yourself. It will cost you more, take far longer, hinders financing and may cost you your marriage and life enjoyment. If you wish to learn...
  8. ThomasBeyer

    about airbnb regulation in bc

    Don’t rely on AirBnB in Kelowna unless you plan to make some extra income in your own personal residence but NOT as an investment. AirBnB is an illegal and certainly undertaxed (but often tolerated or poorly enforced) operation in most Canadian cities as residential zoning usually implies a...
  9. ThomasBeyer

    about airbnb regulation in bc

    Each city has their own AirBnB regs. Many cities getting nervous about lack of affordable rental properties. Kelowna is one of them. It looks like they are following Vancouver’s lead of AirBnB only allowed in principle residences but NOT as a hotel like operation...
  10. ThomasBeyer

    Five year mortgage rates drifting down

    Back to normal ie calm. Sent from my iPhone using myREINspace
  11. ThomasBeyer

    Five year mortgage rates drifting down

    Fast to rise, but slow to come down. Five year mortgage rates about to drift somewhat lower to about 3.5% range https://www.ratespy.com/5-year-yield-approaching-january-lows-12207565 Merry Christmas & Happy New Year ! All is calm .. and pretty bright.
  12. ThomasBeyer

    BC Landlords view on rent caps

    Indeed. In Europe the concept of cold rent and warm rent is quite common ie sub-metered utility expenses esp hot water and heat, but also elevator repairs, cleaning and maintenance costs are often paid by tenants. That legislation is missing in Canada. Sent from my iPad using myREINspace
  13. ThomasBeyer

    BC Landlords view on rent caps

    The landlords’ view on unfairness of a 2% rent cap in BC: BC Hydro rates have increased 35% in the last 4 years. Every other utility and agency is increasing fees as well. Not to mention, that for larger employers they are imposing an Employer’s Health Tax of 1.95%. The list continues...
  14. ThomasBeyer

    subcontractor dispute

    Not quite. If the lien is in dispute, which it appears it is, then you send a 21 day notice to dispute the lien. The sub now has to go to court which is a very expensive and time intensive process most vendors don’t go if claim amount is small. Thomas Beyer, Asset Manager, Investor, Community...
  15. ThomasBeyer

    subcontractor dispute

    Unless sub liens do NOT get involved. That’s the GC’s job. If you or GC disagree with lien send a 21 day notice Sub then has to go to Supreme Court in BC / Court of Queen’s Bench in AB which is very expensive Sent from my iPhone using myREINspace