Buy to let in Vancouver
 

Looks like we will not be moving to Canada anytime soon. But we are still interested in buying a condo (or a house in the burbs) and renting it out. I'm keen to hear your experiences, if any.

Cheers from Tokyo

Re: Buy to let in Vancouver
 

Hi soopergal,

I am a realtor in Vancouver and have helped a number of people buy investment properties. I would, of course, be happy to help you too.

There are a few questions that you need to ask yourself.
Why do you want to do this? It may be that you are looking for income, or to protect yourself against real estate price rises here, or that you want somewhere you can live in when you come here.

You will also need to consider how much money you want to invest. Condos, even small ones, may mean a fairly hefty down payment - 35% most likely.

Another consideration is looking after a tenanted property from Japan. You would need someone locally to manage it for you - a friend or a professional company. This may alter the cost effectiveness of this kind of investment.

A number of our clients have bought "off plan" - ie before the place has been built. This can be an attractive proposition as you usually put down no more than 20% up front, and the balance plus GST on completion. If you choose a project where completion is a year away then you don't have anything to look after during that time.

Contact me privately if you want more on this.

Warmly,

Frank