The Victoria Real Estate Investing Group (REI) Message Board › Investment News
Hello Fellow Real Estate Investors.
First off my apologies for the lack of meet-ups recently I can only beg forgiveness as I have been helping my Partner get her Adventure Tourism business off the ground but we are nearing launch so there will be a meet-up soon.
I have a few opportunities I would like to share in the meantime.
First off I have 3 revenue properties coming on the market in the next 1-2 months. All three will be listed on MLS but you get the inside track as Real Estate Investment Group members
The first hits MLS Thursday. It is a solid mid 1970's 2 level home that has a 3 bedroom up, and either a bachelor, or 1 bedroom down, with room to reconfigure for more. It is in the very desirable area of Central Saanich and will be listed for $569,900. This home has been extensively updated, with 200 Amp service and would be a great owner occupy with a mortgage helper, or revenue property.
The second is a substantially updated character home in Esquimalt with wood accents, wood floors, a newer kitchen with radiant in floor heating and much more. There are 2 bedrooms up and a 1 bedroom suite down, plus a great workshop in the back. It will be listed for around $480,000 although we have not narrowed in on a firm price yet.
The third is a beautiful 2900 square foot character home built in 1928 features a 4 bedroom suite up and a 2 bedroom plus a den suite down. The house has had many upgrades including a new roof and fresh paint, and has been rented out as an investment property for years. It will be sold vacant so you can put your own tenants in at current market rents. It was recently rented for $1800 up and $900 down so there is potential upside there as well. This house will be available for $540,000.
The forth opportunity is someone I know who is looking for short term accommodation. If you have a room to rent out or an inexpensive bachelor or 1 bedroom suite send me the details and I will forward them on. He is looking for about 3 months.
Finally one of our own has a fabulous opportunity to buy a substantially updated 12 unit apartment building in Port Alberny with a 7% Cap rate. I would be interested in an investment pool on this one so if you think being partners in something like this sounds like a good idea, and can come up with at least $10,000 get in touch with me. Of course if you want to buy it outright you can contact either me, or Shirley directly through her site or this one. Details are at http://www.avrilarts.ca
The next Meet-up will deal with the changes coming to the market over the next few months and how they will effect real estate investors. New Mortgage Rules, the HST and the potential increases to Interest Rates.
See you soon
Josh Prowse P.R.E.C.
To Sell Your House
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