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QUESTION:
1. What are the advantages and disadvantages of investing in rental apartment buildings in the Vancouver BC area? It seems like a no lose deal since the renters are essentially paying off the mortgage.
2. Are there any tax advantages?
3. What are the chances for appreciation over a ten-year span?
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david ingram replies:
You don't want much do you? If this is your interest and you genuinely want to make this kind of investment, you should join something like Ozzie Jurock's REAG (Real Estate Action groups). Email ozzie at [email protected] for details.
I could spend twenty pages talking about real estate investment having participated in opver 3,000 real estate buys and sells in my life. So I am going to answer pretty short.
.
1. Advantages are that you will have an investment that will historically increase in value and provide a good rental flow if you buy well.
Disadvantages are that an apartment building is a "BIG" headache if something does go wrong. Examples that come to mind are fires, internal floods (Talisman Towers at 2nd and St Georges in North Vancouver just had two floors filled with liquid sewage), meth labs, murders in a suite, etc. All of the above have happened to buildings I have been involved with.
You need a good, no great insurance policy to protct yourself.
2. There can be good tax advantages if you use the money correctly. For instance - go to www.centa.com and read the November 2001 newsletter to find out how you can make rental income to make a non-deductible mortgagfe on your own house deductible. Also, the judicious use of depreciation (capital cost allowance) can result in significant tax deferral.
3. Pretty close to 100% for some appreciation. Likely 75% that it will double in another ten years.
There is also a chance that we could go into a North American recession and the value could go down.
Buy Ozzie Jurock's excellent Real Estate Investment book called
"FORGET ABOUT LOCATION, LOCATION, LOCATION" You can order it over the internet at:
www.jurock.com - click on products in the top left corner and find the book at the bottom of the list.
You will also find that he has a Real Estate Investment Seminar coming up this weekend at the Renaissance Hotel this weekend. You can also book it at www.jurock.com - top right corner.
The details are:
a.. upcoming events
b.. past events
c.. comments
d.. notify me of events
REAL ESTATE OUTLOOK 2004
Saturday, September 27, 2003
9:30 AM - 3:30 PM
Renaissance Hotel, Vancouver BC
1133 West Hastings
a.. Buy Tickets
b.. Agenda
c.. Speakers
d.. Sponsors
e.. Map
The regular price for this full day of information and advice is $97 (+GST).
Special offer: Buy a ticket before this Saturday for only $65
Hope this helps.
david ingram
David Ingram of the CEN-TA REALTY Group
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
108-100 Park Royal South
West Vancouver, BC, CANADA, V7T 1A2
(604) 980-0321 - Fax 913-9123 [email protected]
www.centa.com www.david-ingram.com
Disclaimer: This question has been answered without detailed information or consultation and is to be regarded only as general comment. Nothing in this message is or should be construed as advice in any particular circumstances. No contract exists between the reader and the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent and appropriately qualified legal practitioner or tax specialist in connection with personal or business affairs such as at www.centa.com. If you forward this message, this disclaimer must be included."
Be ALERT, the world needs more "lerts"
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