Tag Archives: Poco Condo

Friday Afternoon Wrap Up – Real Estate, Tenants & Paul Blart

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I went to check out 3 condos today with my realtor in Burnaby (close to Lougheed Mall). The first place was nice, dark laminate flooring, stainless fridge, black stove, rustic looking slate tile in one bedroom, nice mocha designer colored walls and so on. It was selling for $210,00 I believe. I will probably put an offer on that one. The other 2 condos were heaps of junk. One place we went into was actually crooked, we walk in and you could actually feel how sloped and crooked the floors were. Actually there were no floors it was green painted concrete (such a dump).  I got a bit dizzy cause the floors were so off balance. They wanted $197,000 for that place, um no thanks. I wouldn’t even buy it for $160,000. The last condo which was the biggest out (900 sq ft) of the 3 condos was too close to Highway 1. It was noisy if you had the windows open even a wee bit.

Anywho, I have to do another tenant showing at the Poco condo today at 3pm (2 people viewing), so instead of backtracking to Kingsway I came straight here at 11 PM and I’m using the Roger Rocket Stick so I can work from here no problem. I feel a bit weird working out of  an empty condo sitting on the carpet but that’s me right, weird.

paul-blart-mall-cop

Tonight I will actually be going out to watch a movie at the MetroTown Silver City theaters, something I haven’t done in many months. We got some movie tickets for Christmas so it’s time we used them. Me and the lady are going to see Paul Blart Mall Cop, with Kevin James. Hes the dude from The King Of Queens, funny guy. He plays a bumbling mall cop and all that goes along with it. I checked the reviews on MyBC.com and 250 user reviews gave it a 4 out of 4.

And that ‘s all folks… Have a great weekend.


Inspection on The Poco Condo Today

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Today is inspection day. I hired an inspector (something every home buyer should do) to do a inspection of the condo. I don’t want any surprises after I own the place, so I do my home work before hand.  It costs about $400 but it’s worth just for peace of mind. I already went through the strata minutes and everything seems fine but it’s better to be 100% safe than sorry.

I also placed the ad on Craigslist and have rental showings today and tomorrow. I like to move fast and get it rented ASAP, so then I have one less thought on my mind. By Monday everything should be done and then we just sit and wait for the closing date when I get the keys. From there it’s off to the next one, bada boom!

The reasons I am liking condos more is a few reasons:

  1. I don’t have to worry about the exterior of the building (painting, cutting grass, landscape, draining, gutters, etc…)
  2. The prices of houses is too much now for them to be able to cover any type of mortgage you have.
  3. I plan on having at least another 10 rental properties and if they are all houses it’s WAY more work than owning 10 condos. I want my rental income to come easy not hard.

I really want to get things moving for me in my real estate portfolio, so I plan on probably putting a low ball offer on another 2 bedroom condo in Burnaby for $170,000 (asking price is $208,000). It’s not as nice as this penthouse loft however it is still updated nicely with laminate flooring and modern colored walls.  Low ball offers are usually rejected but some people are very motivated to sell and sometimes they will take your offer even if its way below asking prices ($208,000).

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