The average single family home in Vancouver has been $1M for years, but now Calgary homes are reaching this price in record numbers.
Investors have been struggling in Vancouver’s Lower Mainland(LMD) and Calgary to get real estate to cashflow(pay for itself as a feasible investment).
All these strategies are fine, but they add a layer of complexity to real estate investing(and more opportunity for things to go wrong) that require a real expert to navigate(like the links I provided above).
The added risk of complex strategies is simply not needed in real estate investing, because there are plenty of simple buy-and-hold deals outside the hot LMD and Calgary markets.
Kamloops rent($3000/mo) to purchase($345k) ratio for a typical suited home frequently offers a higher Return on Investment(ROI) than even advanced strategies in other markets.
Also Kamloops incomes(and rents) have risen above the average of many neighbouring communities, so housing affordability is much better.
With house prices substantially below the LMD and Calgary, it’s inevitable Kamloops prices will increase closer to those of it’s neighbours in the near future.
Perhaps when shopping for your next deal, you will consider Kamloops: the “dark horse” of the real estate world.
Until next time,
Learn more about why “boring” buy-and-hold deals in Kamloops are a great alternative(with better ROI) to the riskier strategies in other markets: subscribe for a weekly newsletter and get Kamloops’ deals of the week!