Kimberley, BC - Anyone have insight/expertise on this region?

[MonteDobson]

Hello fellow investors,



We have come across a pre-foreclosure townhouse condo in Kimberley, BC...close to the golf course and about a 5 minute drive to the ski-hill. It sounds like we could get it for a good price, but even still, being a recreational property, it would not cashflow well at all (likely negative). So our play may be more of a quick-turn fix and flip if we can get it discounted enough, as the location is superb.



Anyone have any expertise/insight in this region, or have any realtors and other contacts that you could provide?

 

[Thomas Beyer]

depressed region .. NO local employment except tourism .. VERY seasonal .. aging downtown .. far from any big city



The ONLY reason to buy is to live there or to vacation there (and enjoy the Schnitzels and Bavarian atmosphere) !



VERY HIGH RISK unless huge cash cushion to hold 3 years while attempting to sell at a discount !

 

[MonteDobson]

Thanks Thomas,



That was my initial "gut feel" spending this past weekend in that area. There were "for sale" signs everywhere and still new developments being built. Did not make sense to me. I am going to look into this one a bit further, but likely won't proceed unless I can get it for a very deep discount.

 

[Thomas Beyer]

[quote user=MonteDobson]unless I can get it for a very deep discount. indeed .. or buy for enjoyment/vacation !!

 

[Dan_Eisenhauer]

Mike Cunning and Dan Sampson own/ed several properties in Kimberley. Ask them for their feedback.