Category Archives: real estate

I Put An offer On A 2 Bed Room Port Coquitlam Condo

I put the offer on the 2 bedroom condo in Port Coquitlam. Unfortunately there is another person interested in it as well, so now we have to sit and wait for the vendor to decide which offer he likes better. This is a 2 bedroom loft/ penthouse suite for $199,000. Over 1000 square feet with a sweet patio up top that is awesome. I really love this place and I would have no problem moving in myself (If I was single). The loft has amazing vaulted cathedral ceilings that gives you a really open feeling. Anyways I took a bunch of photos so if/when we get the place I can list it on Craigslist right away for renting. It should rent for $1500 – $1600. You can see the photos of the condo below, looks pretty sweet right?

Profit Over Fear – Investing In Vancouver Real Estate

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So we went out condo shopping with our realtor yesterday afternoon. I told her my price range is around $200,000 for a 2 bedroom condo. We ended up looking at 4 different condos, 2 near Brentwood mall and 2 other condos near Lougheed mall. All 4 condos are located near amenites such as food shopping, as well as public transportation (SkyTrain). The condos rent between $1200 – $1300 per month which makes them perfect to cover monthly costs (strata fee, taxes, monthly mortgage). Square footage is between 750 – 850 square feet, not a bad size.

Now my realtor is going to check the minutes of the stra council (to see if there are any problems in the buildings). The last thing you want to do is buy a leaky condo, so you need to check the strata minutes to see what was discussed at strata meetings.

Some people reading this probably think I’m crazy to buy right now, but sitting on the sidelines for the bottom of the market to happen is even more crazy. As long as the rent covers everything, then it’s a NO BRAINER. Real estate is simple either you buy it or you don’t. If you don’t buy it and sit on the side lines I can promise you that you will regret in the years to come (ask your parents).

A couple times I got nervous about buying houses but I bought them anyways and they have appreciate 100% in the past 5 years. Fear is normal but you need to control it, don’t let it control you. It’s easy to get scared trust me, but you need to be logical about things. Don’t let your emotions run your life.

That’s all for now folks.

Tommorow We Start Searching For More Investment Condos In Vancouver

Pre Approved For A Mortgage – Condo Shopping Very Soon

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Well I finally got pre approved for a mortgage yesterday from Peter Kinch who specializes in investment mortgages. Now I am locked in at the current interest rate for 3 months while I go condo shopping. I am now waiting on my real estate agent Antonietta Santoro to return from Italy next week. When I find someone who I trust I stick with them, building relationships is important. Antonietta has helped me buy all the places I own here in Vancouver, and I couldn’t be happier with the purchases I made because of her.

I have been checking Craigslis t’s real estate section to see what the prices are like and like I said in previous posts, I’m thinking a 2 bedroom for $190,000 to $220,000 is a good investment. And with the Canadian dollar dropping right down to 80 cents today my U.S. pay checks are getting bigger and bigger.

The funny thing is this when people talk “recession” I start to smile, why? Most people stop spending, stop buying houses and so on. This is good for me because then houses drop and there is way less bidding competition. I have always been one to go against the grain of society, hell I was doing graffiti for over 20 years. I sort of like to be the “outsider” in some ways. I’m not into following the crowd. I have always said that if you follow the crowd you get the same results as the crowd, thinking outside the box has proven beneficial to me over and over. Obviously I’m not like in all aspects of my life, but some areas I tend to stray away from what “most people do”.

Anyways it’s a nice crisp day here in East Vancouver, I would like to bike to the coffee shop this morning. I will see how my insides feel in a little while and take it from there.

Have a good one kids.

C.V

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Investing In The USA Seminar With Ozzie Jurock Happens Today

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Today is the LandRush USA Real Estate seminar, yes I will be attending. It’s a 9 am – 3pm full day deal. It’s worth spending my Saturday to get the RIGHT information for investing in the USA real estate market, and probably geared towards housing markets like Phoenix, Arizona and Las Vegas, Nevada.

I am sure I will come away from the seminar with more information. I have seen his predictions in the past and real estate areas he mentioned to buy long before people thought about it. Some of the places, include Yaletown condos in 1999 (going for $100,000 brand new), Burnaby and Coquitlam condos in early 2000 (going for $50,000!!!). Back then I wasn’t isn’t the same financial position I am now, but if I would have bought 5 or 6 Burnaby condos I could be making another $5,000 in gross rents. You have to love the power of passive income, it’s truly amazing.

Anywho since I am on Ozzie Jurocks email list I got this in my email last week:

“There are some 50 condominiums, under 10 years old, fully renovated and there will be vendor financing provided as well. The complex is located next to one of the best golf courses in Phoenix, and – we believe that the price point is excellent!! (Approximately $140,000 for a 2 BR suite).”

I will be attending his presentation on this opportunity next week. Personally I think now is the right time to invest in the U.S.A., and I plan to invest there.

Off I go to LandRush USA…..