Top 10 Key investment Strategies For Greater Vancouver

By:  Shane Toews

Research the market before making any decisions would be a great start!  Consider at least three potential investment opportunities.
Buy specific types of property’s that are in demand.  For example, a single family house with a spare basement suite for revenue is a great solid commodity.  A condominium, duplex, triplex or four-plex.  Don’t buy an apartment building until you have the experience of several smaller properties.
Strive to have a “break even” cash flow.  In other words AVOID DEBT!  Cover all your expenses from cash flow such as mortgage payments, taxes, property management and strata fee’s.  Also make sure insurance, repair are paid.
Budget a “what if” plan just incase you have a vacancy for more then 2 months.
Ensure that you have competent property management.  Either hire a property manager or do it yourself. 
Keep rents at market maximums and manage expenses to keep at market minimum.
Always view and inspect your property before you buy.  Verify all financial information and obtain your realtor’s guidance in the Fraser Valley market.
Keep a minimum of 3 moths operating expense as a  reserve fund for unexpected expenses such as repairs or vacancies.
Buy properties within 4 hours driving distance to where you live.  That way you can easily monitor your investment.  Stay within Richmond, Burnaby, Vancouver, New West, White Rock, Langley, Maple Ridge, Aldergrove, Abbotsford, Mission and Chilliwack.  Any further then that (hope and Vancouver island) maybe be too long of a drive for an investment property.
Give yourself a realistic time frame to achieve your investment objectives.  Real estate cycles are 5-8 years and sometimes more!  Be patient!