Kamloops Infrastructure Improvements
Many Millions are being spent in Kamloops upgrading infrastructure, and this is one of the key indicators a housing boom is coming.
Here are some examples:
Westsyde Road rehab to be complete by fall – $1.6 million
Overlanders Bridge update moving forward – $9.3 million
Downtown intersection set to reopen- $2.2 million
These images are the fruition of plans that were announced in 2011, and represents an $80 Million expenditure on hospital upgrades to meet the population growth for the next 15 years.
The city spent $100,000 to install the worlds first longboard park. This facility will attract people from all over the US and Canada to train and compete.
Yet another example of forward thinking mayor and council who are investing heavily on infrastructure.
House prices are up 2.5% over last year!
A $400k home last year is now worth $410,000. If you purchased that house with 20% down($80k), your ROI is 12.5% this year alone: $10k/$80k x 100% is 12.5% !
Add the $6k mortgage paydown your tenants made for you and that’s 20%: $16k/$80k x 100% is 20% !!
Now if you had cashflow of at least $200/mo (I do on all my properties), you got 23% ROI last year !!!
Compare that to your other investments, perhaps it’s time to add some cash flowing real estate to YOUR financial plan…
150 more permanent jobs, and millions spent on construction: new casino to open in Oct 2015. That means only 1 more year before yet another upward pressure on rents and house prices – buy now while it’s still cheap!
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Until next time,