Tips and Picks

Some of these Tips and Picks go back, but we have kept the posts viewable because they remain relevant today. Contact Bob for more information.


 

 

Finding a good Landlord is about to get a little easier in BC, thanks to the new online BC Landlord Registry. Perhaps the timing could be perfect to help Owners and Tenants, since we can expect an increase in Landlords locally with the introduction of the upcoming Vancouver Vacant Housing Tax.

Landlord BC (a resource to help make owning rental Real Estate easier) is launching the registry called “I Rent it Right!” in February. The goal is to professionalize the rental industry even if...

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Annual Property Assessment Notices from BC Assessment Authority were sent out in the mail starting January 4, 2017, and by now you should have received yours. The “Assessed Value” figure is BC Assessment's estimate of the market value of your property as of last July. This value is used to determine how much you will pay in property taxes this year. Many of the “Frequently Asked Questions” about the assessment process are addressed in the brochures included with the Assessment...

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Those who are, or are thinking of becoming, rental property owners and landlords, may be interested in the following proposed minor changes to the Residential Tenancy Act:

  1. In keeping with government’s goal to reduce red tape, landlords will be able to repay security deposits electronically.
  2. Tenants will be able to terminate a fixed-term lease early without a financial penalty if they are fleeing violence or headed for long-term care. They will be permitted to give one month’s written notice,...
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Real Estate ownership is probably the simplest & most direct means of people becoming rich today. One of the keys to prospering through real estate is the ability to think creatively, and use available information to see opportunities missed by others. This is a very learnable skill, and there are some very good books out there to help develop this skill. Here is a "book report" on my favorite "top 5" books for Real Estate investors:

1. "Real Estate Riches" by Dolf de Roos. This...

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There are some situations where a rental property owner or landlord may be best advised not to be "hands-on", but instead turn the problem over to a professional or professional service. A great example of this is when a tenant must be evicted for legitimate cause, and when that tenant makes it clear that they intend to ignore notice to move. I am often asked for advice or help in these matters - usually by a client who is very frustrated, worried, and unsure how to act. In recent years, I have...

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It’s book report time! In addition to stuffing my face, I have put the holidays to good use by catching up on my reading, so here is a book that any investor of any kind of investment should consider a “must read”!

It’s called “The Warren Buffett Way - Investment Strategies of the World’s Greatest Investor”, written by Robert Hagstrom Jr. and published by John Wiley and Sons, Inc. For those who aren’t familiar with Warren Buffett, he is probably the...

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One of the most common questions I am asked by someone considering buying an investment property is “What will happen to my investment if I have a fire?” If the place is completely destroyed, any decent fire insurance policy will probably protect the owner. In the event of a partial loss however, an important and often overlooked coverage may not be on the policy. In a city like Vancouver, or any city where the housing stock is older, Building Bylaws Insurance Coverage is a smart investment....

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unabasehed regard and admiration for the famous U.S. investor, Warren Buffett. I have just read and re-read another great book about Warren titled “Buffetology”. Written by Mary Buffett his (ex) daughter-in-law and David Clark, a long time friend of the Buffett family. This book is designed to teach Buffett’s system for picking successful investments. The reader is taken through the qualitative analysis and then the (relatively) simple quantitative analysis Buffett uses to determine...

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Risk - one of the most critical factors to consider in making any investment! Risk in real estate investing exists because the market place is imperfect, and seldom can real estate investors make perfect projections or forecasts of investment performance.

There is , however, a difference between risk and uncertainty. With uncertain outcomes, no reliable information exists to determine an outcome’s chance of occurrence. In contrast, investors can use their own assessment of an investment with...

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Whether they’re first time buyers, move-uppers, down-scalers, transferees or investors, research shows that the buyers of real estate are introduced to property by various means and methods. A a sales professional, it makes sense to study these statistics for the benefit of our buyers and sellers. Here is some more valuable information:

• 1% bought an open house they saw.

• 3% bought for a combination of reasons.

• 3% bought property they saw advertised.

• 7% were referred...

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