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SignUp Now!... if on the island you can get 6 plus caps ?
Vancouver Island is very very weak economically and driven primarily by folks leaving AB and Lower Mainland to retire. V Island is scenic and busy in the summer with tourists and all sorts of seasonal jobs. Very few year round jobs except those by overpaying government agencies: BC government, local governments, BC Ferries and the odd mining job.Why do you think their is no upside on the island ?
If your goal is to make money in real estate short term, then you shouldn't be in real estate at all. 10% to 12% in a flat market is still a decent 60% ROI in 5 years in a FLAT market. Add upside to that with rent increases in thriving areas and you can still quite consistently do 100%++ ROI if you take a 5 or more year outlook.have essentially given up on pursuing my multifamily dream much further. The returns just aren't there over the short term.
Rickson9 I wouldn't bet against either Calgary or Fort McMurray in the long term, they are just taking a breather right now.
Try Randy Dyck in Abbotsford: http://www.homes.com/real-estate-agents/randy-dyck/id-10586305/
If your goal is to make money in real estate short term, then you shouldn't be in real estate at all. 10% to 12% in a flat market is still a decent 60% ROI in 5 years in a FLAT market. Add upside to that with rent increases in thriving areas and you can still quite consistently do 100%++ ROI if you take a 5 or more year outlook.
..The idea is to maximize the return on my investment $$. Real estate is but a vehicle to do so. I need returns that reasonably offset risk short AND long term. I have seen down markets (going through it now) and have had some sleepless nights... The last thing I need is low cap, high vacancy nightmare when a commodity price cycles... This has changed my perspective on investing in real estate. particularly in resource communities.
Given the boom in the Lower Mainland right now, I wish I owned more detached houses!