I got a phone call by the REIN office Thursday afternoon to speak about why I am investing in Kamloops. I’ve never done public speaking before, especially in front of 300 people, so of course I said yes!
I wrote a quick speech and must have practiced it 50 times! Here it is, please don’t judge too harshly 🙂 :
Kamloops now has a REIN Score! 31/50, so not great, perhaps I should be singing Kamloops praises way more and drum up more publicity!
Maybe this will help!
Here is my transcript of the speech, enjoy 🙂
Hi, I’m Sam Perren
I live and invest in Kamloops through sheer luck. In 2009 the RCMP posted me to Kamloops prior to me joining REIN.
I learned about economic fundamentals at an ACRE event, and like Barry McGuire said, small towns can be goldmines, literally – Kamloops has 2! WITH A 3rd ON THE WAY!
Now my entire portfolio is REIN buy-and-hold-model properties in Kamloops.
Before I start I want to publicly thank some REIN members: Mike, Michelle and Candice, thanks so much for supporting my Cops for Kids bike ride fundraising! 800km ride over 10 days was tough but with your help I’ve personally raised $5000 for sick kids.
Ok, I am buying in Kamloops for a few reasons:
Cashflow: my last purchase was $290k, I rent it now for $3100/no and after the refi I’m getting $1000/mo cashflow.
First point: property is cheap compared to other towns.
You can find a three bedroom house with a two bedroom basement suite for under $350,000, or a three-bedroom townhouse for under $200,000.
Second, rents are high.
In the downtown, Sahali, batch, Aberdeen and Pineview neighbourhoods I’m getting 1850 a month for three bedroom units.
This means traditional buy-and-hold cash flows very well without the need for more complex strategies like rent to owns or student/furnished rentals.
The third reason I invest in Kamloops is because of stability.
There are more than 10 major employers in Kamloops. what this means is if one struggles, the others prop up the economy.
For example in spring of 2013 the pulpmill closed down it’s A line and 125 jobs were lost.
I ve actually seen slight increases in property prices and rents since then because of things like The University starting a faculty of Law(the first in Canada in 33 years), and the hospital undergoing an $80 million expansion to service the growing
I’ve used Dons book ” secrets of the Canadian real estate cycle” to learn that Kamloops is now in the recovery phase of the cycle.
This means the boom phase is coming.
I get into tons of details about that in my 35 page report on kamloops for real estate investors.
You can get that report at my website Invest Kamloops dot com
Hope you liked my speech, I did not freeze for my first time on stage! Heck it was only 300 people so no sweat 🙂
Until next time,