Welcome!

By registering with us, you'll be able to discuss, share and private message with other members of our community.

SignUp Now!

Is it worth to buy now in this market

Havan8655

Focused Investor
Registered
Joined
May 3, 2016
Messages
79
I am wondering is it worth to buy now in Fraser valley area as a buy and hold strategy for personal residence and convert to rental later in this present seller market ? Any thoughts appreciated!
 

Thomas Beyer

0
REIN Member
Joined
Aug 30, 2007
Messages
13,881
2014 would have been better. Or 2006. Or 1998. Or 1982. Or 1960.

Failing that, yes, today is just as good. With 40,000+ people moving to Lower Mainland prices will go up, not in a straight line of course, but up nevertheless.

Why would they not? People leave ?
 

Devin Roberts

Devin Roberts - Brent Roberts Realty
REIN Member
Joined
Nov 17, 2015
Messages
126
Detached is forecasted to continue to drop.. but no matter what time it is, NOW is the time to buy. In the long run a few months or even years difference is often a very small impact


Sent from my iPhone using myREINspace
 

Matt Crowley

0
REIN Member
Joined
Dec 14, 2013
Messages
980
Uhh... those are not good answers guys.

There is a time to buy, hold, sell every asset. Some assets are uninvestable. There is no short position that can be taken in SFH.

Holding a SFH in Fraser Valley is destined to be a cash suck. Yields are too low, maintenance and cyclicals too high. Investing like this is going to basing your return 120% on appreciation because you will probably lose 20% of your capital during operating and selling the asset. So the question is how deeply are you willing to bet on appreciation as your sole , completely undiversified source of return?
 

thejules

0
REIN Member
Joined
Oct 23, 2007
Messages
241
Prices are starting to come off all time highs, mortgage financing is much more difficult to get. Supply is starting to moderate. Seems like opportunities are on the way!

Sent from my SM-G950W using myREINspace mobile app
 

Thomas Beyer

0
REIN Member
Joined
Aug 30, 2007
Messages
13,881
Prices are starting to come off all time highs, mortgage financing is much more difficult to get. Supply is starting to moderate. Seems like opportunities are on the way!

Sent from my SM-G950W using myREINspace mobile app

Indeed they are but nuanced local knowledge required as some markets flat, some up and some down.

Don’t look at averages.

People have drowned in rivers one foot deep on average! (TM)


Thomas Beyer, Asset Manager, Investor, Community Improver, Author, Father, Mentor www.prestprop.com
 

Carla Reis

Inspired Forum Member
Registered
Joined
Aug 24, 2017
Messages
43
Thomas is correct as he often is.
My five cents is ....
There's never a wrong time to buy real estate regardless the location.
But...
There's is a wrong time to sell.
As long you aren't in a hurry it always (or typically) pays off over a long period of time.
Edison

Sent from my LG-H812 using myREINspace mobile app
 

bb2

0
Registered
Joined
Sep 10, 2007
Messages
121
I agree with Carla. I bought a property in 2008 that I paid 360,000 for. It’s valued at 320,000 right now, but in 10 years I have paid the mortgage down and have had positive cash flow from day 1 (with 20% down). I don’t need to sell it. I will sell when the market improves or when the mortgage is paid off. I have pretty much bought properties every year since 1982 in Edmonton. I have yet to lose money on any property in Edmonton because I have a long term vision (let’s not talk about the property I bought in Brandon Manitoba...)


Sent from my iPhone using myREINspace
 
Top Bottom