InvestInNewWest.com

RE/MAX Advantage Realty

Cell 778-892-8144

Office 604-526-2888

Email: michaelsheldrake@remax.net

Well today I was surfing through listing updates and noticed this duplex was lowered 50k to 635k. Looks like each side is about a 1500 sq. ft. 3 bedroom with a rec room in the basement. It's on a busy street and needs some renovations, but I believe with 20% down this property could possibly cover (depending on final sale price).

 

I am thinking about 1500$ per side per month and and have the renters pay the utilities. This would make 3000$ a month which could cover $500k in mortgage at today's rates plus roughly the property tax and insurance. 

 

All that said I've not been inside the property yet and am not sure what level of work it requires, but it is a legal duplex on over 9000 sq ft. of RT-1 zoned land. You don't usually see these so cheap. The location is likely to blame,...

Read full post

Spring activity remains balanced in the Greater Vancouver housing market

 

VANCOUVER, BC - The number of properties listed for sale continued to increase in the Greater Vancouver housing market in May. The number of sales decreased year over year, but remained relatively constant compared to recent months.

 

    

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,853 on the Multiple Listing Service® (MLS®) in May 2012. This represents a 15.5 per cent decline compared to the 3,377 sales recorded in May 2011.

 

May sales were the lowest total for the month in the region since 2001 and 21.1 per cent below the 10-year May sales average of 3,617. However,...

Read full post