Looking For Partner on Property in Kelowna

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MitchK

New Forum Member
Registered
Hi everyone!

I’m new here and would like to extend my thanks to everyone who is a part of this group - it’s a great thing!

To give my backstory- myself and my fiancée have lived in Kelowna our entire lives. At this point we are age 30, and purchased our first home 5 years ago. My fiancée is a marketing wiz/ one hell of an interior designer, and I am a mechanical contractor (plumbing/heating) with 3 employees. We have bought and suited our current home, and are now looking to fully rent the house and move on to another.

We are ideally looking to partner with someone that would like to co-sign a property, and develop it into another suited rental. Another option would be land zoned for a carriage house, as my background has filled my contact list with reputable tradespeople. Our timeline from possession date to rental would ideally be 1 year.

We currently have a few winners picked out, however with the current market this could change day by day.

If this interests you please feel free to reach out via reinspace.


Thanks for your time,
 
Thomas Beyer

Thomas Beyer

0
REIN Member
Talk to a mortgage broker. Refi your rental property and then but the personal home with cmhc with only 5-10% down, at super low rates.

Treat the bank as your biz partner. Best deals of any JV. Cheaper than any partner which costs unnecessary future equity upside.


Sent from my iPhone using myREINspace
 
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MitchK

New Forum Member
Registered
Thanks all for the advice. We will try and tie one up here on our own, and the cmhc is a great idea, I didn’t know you could utilize them after your first home. It’s worth their fees I’m sure.

If we lock one down and still need assistance I will be sure to reach out again on rein.
 
Amir Shahidi

Amir Shahidi

Royal LePage Kelowna
REIN Member
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Tabeer mubin

New Forum Member
Being involved in any of the stages of buying or selling a piece of property should not be taken lightly, especially in the Okanagan marketplace. Our lawyers offer a broad range of services in all types of residential and commercial real estate matters. Our real estate department lives here too, and is experienced in all areas of real estate law including purchase and sale transactions, mortgages, land developments, and subdivisions.
 
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Ivan Sabourin

New Forum Member
Registered
Hey @MitchK
... Sure would like to hear about any updates on your situation. I know the boat you ride in cause I had a boat just like that ... I know Kelowna and the Ok valley well as I have been part of many, many projects there. I was never able to get my own deal going though as the risk to rewards were too high.
I hope to go back there someday soon to do a deal in commercial or lux multi-family near the water. (I like you, need the flexible money JVers)
 
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