Chilliwack investing...

[Chad9219]

I'm considering purchasing an up/down rental in Chilliwack.
Cash flow is pretty good but I would be interested in hearing the opinion of fellow REIN members as to putting investment dollars in Chilliwack (Sardis).
This is a single-family home with a suite in the basement that needs significant updating which I will be doing myself
Thanks, happy investing and stay dry!

 

[Sam53473]

I purchased a pre build in the Garrison area of Chilliwack right next to Vedder River which is scheduled to complete in January 2017.
From the research I've done, There are some great pockets in Chilliwack and vacancy rates are very low. Rental rates are obviously lower then those in metro Vancouver but cash flow better as the cost of housing is still reasonable.

From an economic development perspective, I know the Molson Brewery announced its new facility will be built in 2018/2019 in Chilliwack which will be a great boast to the local economy;

http://www.theprogress.com/news/389188081.html?mobile=true

There is a planned expansion of the University of the Fraser Valley for both the Chilliwack and Abbotsford campuses

http://www.ufv.ca/media/assets/campus-planning/2014-15-UFV-Capital-Plan---FINAL.pdf

The population of the Fraser valley is growing with no signs of slow down as families move to more affordable locations outside the LMD.

Good luck!!!!

 

[Marnie]

Have you already read through The REIN Score research report on Chilliwack? You will find tons of useful and detailed information about economic fundamentals, drivers, housing, political climate, demographics and much more. Login to your REIN Member back office, click on the Knowledge Vault, then click Research Reports - it's within the BC REIN Scores folder (you will also find reports for other provinces).

 

[Chad9219]

Thanks Marnie,