大C姐

I think even if the strata fee raise or mortgage rate goes up, I expected the worst... probably need ...
Nam 發表於 2012-11-15 09:55

    放長線係好少機會蝕嘅，學你話齋，就算退休都唔諗住賣，繼續收租，咁個duration長啲個風險都好細。

不過，你要計埋condo嗰啲special assessment，隔三五七年就要夾一次錢（＄１０００－３０００）。

MSN04

but... the worst case is actually having the property sitting there vacant.  That's how people get under water....

大C姐

but... the worst case is actually having the property sitting there vacant.  That's how people get u ...
MSN04 發表於 2012-11-15 10:09

    你夠平一定有人租既，始終人點都要住，呢個冇得慳！

不過講真，用得嚟做rental交通一定要超方便。

Nam

That's why I budgeted at an affordable level and pick a better/central location that attract tenants..

I'm not too worry about no renter.. one thing that would scare me is tenant not paying rent and destroying my unit..................

Nam

你夠平一定有人租既，始終人點都要住，呢個冇得慳！

不過講真，用得嚟做rental交通一定要超方便。 ...
大C姐 發表於 2012-11-15 10:18

  交通一定要超方便, that's why have to pick a location that are walking distant to neccessary amenities... my tenant told me took her 10-15 minutes to walk from my condo to the mall.. driving distance is 2 minutes..

大C姐

交通一定要超方便, that's why have to pick a location that are walking distant to neccessary ame ...
Nam 發表於 2012-11-15 10:39

    咁梗係啦，租得屋好多都冇車，有車都唔想渣啦，要渣都唔想渣得遠啦。已經唔係自己地方，點解仲要租得咁隔涉？

不過講真，Vancouver比十幾年前真係方便咗好多，多咗好多＂旺區＂有唔同商住兩用地方就方便好多。唔似得以前咁古老一定要做住宅區，要人渣１５分鐘先有groceries。

BiscottiGelato

As long as one is okay with holding super long term, and can sustain a year or two of vacancy or ridiculous rental rate at max, sustain ridiculous interest rate (~10%) and doesn't get emotionally shaken out IF there's a rapid decline (I agree that there shouldn't be, but a moderate decline of 10% per year over 2/3 years)... Then yes, I agree. Who cares about the current price and valuation then? Essentially, this is not treated as an investment vehicle almost, but more like a forced savings vehicle. Which is fine. Whatever works~

Nam

I think the chance of interest rate jump to 10% is pretty low, that would mean our economy is pretty messed up.

What I see is when the home line accumulated back to the down payment that I have invested in this condo. I will re-finance the down payment out and purchase another unit. So ideally, holding two rental properties at the same time...

BiscottiGelato

I think the chance of interest rate jump to 10% is pretty low, that would mean our economy is pretty ...
Nam 發表於 2012-11-15 13:13

No, near 0% means our economy is pretty messed up. 10% is to curb uber inflation/excessive speculation.

Of course, it all follows the US rate, not so much reflective of our economy. We can be in sh_t hole and be doing a 10%, or be on hyper inflationary trajectory and still be at 0%....

BiscottiGelato

Bank of Canada interest rate from 1937 to 1975 to present day

http://www.bcrealtor.com/d_bkcan.htm#bkcanhist

Just because we live in time of low interest rate, doesn't mean it won't ever go up. It's kinda like saying we have never had a major earthquake in Vancovuer and think that it won't ever happen. Think again.