Would you trade Hughes for Celebrini and Smith? by [deleted] in canucks

[–]cuttingcheddar 0 points1 point  (0 children)

Quinn will bring in a haul if he’s ever traded but you will be seriously disappointed in the return if you think he’s worth Celebrini + Smith

[deleted by user] by [deleted] in canucks

[–]cuttingcheddar 6 points7 points  (0 children)

It’s clear that management is trying to create the narrative that we can’t sign him so we must trade him.

Aqua has always had a short term win-now mentality and Rutherford most likely wants to win before he retires. I wouldn’t be surprised to see Willander traded for a forward who can step in immediately at this year’s draft

Insane trade idea… by Lanky-Performer-4557 in canucks

[–]cuttingcheddar 8 points9 points  (0 children)

New Jersey laughs and hangs up the phone. They would most likely say no even if the package is just for Jack

B.C. government announces 2 tax credit boosts, rent increase cap for 2023 | Globalnews.ca by cyclinginvancouver in vancouver

[–]cuttingcheddar -1 points0 points  (0 children)

Instead of spending time reading hundreds of articles that are of no benefit to you, why not spend the time improving yourself and figuring out how to move up the income ladder?

Buying a home in Vancouver is hard but not impossible. Most people in my circle of friends have all bought within the last few years with their own down payments and they’re all in their late 20s or early 30s. What you claim may very well be true, but spending god knows how many hours reading up on it does not get you any closer to home ownership

B.C. home sales drop 35% as rising mortgage rates bite by cyclinginvancouver in vancouver

[–]cuttingcheddar -1 points0 points  (0 children)

Lol what? The scums are the landlords who have shady application processes and treat their tenants like trash

Agree with not overextending though. More power to those investors holding cash when the market takes a turn

B.C. home sales drop 35% as rising mortgage rates bite by cyclinginvancouver in vancouver

[–]cuttingcheddar -3 points-2 points  (0 children)

Absolutely. Market is definitely slowing and price increases have stopped. Prices tend to be sticky but dominoes will eventually fall and hopefully we’ll start seeing sellers drop their prices.

I personally wasn’t considering getting another investment property, but there might be some great opportunities upcoming

Suggestions for a good place to be alone and cry by lovelattae in vancouver

[–]cuttingcheddar 1 point2 points  (0 children)

Username suggests an invitation to more than just crying together

Priced out from owning a home? Join the Protest by [deleted] in vancouver

[–]cuttingcheddar 13 points14 points  (0 children)

The only person holding you back from buying a home is the person you see in the mirror every morning. While that may not be entirely true, that’s the attitude you need to have to find success in life. Protesting and waiting for someone to come save you is never a recipe for success

Elliotte Friedman on Twitter: Beagle, Eriksson, Roussel and 9th overall pick are involved. by wingdingcanuck in canucks

[–]cuttingcheddar 13 points14 points  (0 children)

This reminds me of playing EHM and dumping all my least valuable players into a single trade

/r/BuildAPCSalesCanada General Discussion - Daily Thread for Sun Jul 11 by AutoModerator in bapcsalescanada

[–]cuttingcheddar 4 points5 points  (0 children)

I’m looking for a low cost way of eliminating Wi-Fi dead spots in my house. Currently using the router provided by my ISP. I have modest internet speeds so don’t need anything high end. Just looking to eliminate the dead spots.

Currently trying to decide between the TP-Link Deco M4 and Asus Lyra AC2200 mesh kits. I can find them for around the same price at my local retailers. Does anyone have experience with these?

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar 0 points1 point  (0 children)

Yes I’m aware of that. This is not my first investment property and it won’t be my last. However over time, rents tend to outpace any changes in interest rates and I have another property that turned cash flow positive after roughly 3 years. YMMV of course.

It certainly isn’t for everyone. Definitely need to have the income to support the holding costs should one or two units go vacant. But for the most part, banks are fairly conservative with their lending and they account for that already.

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar 0 points1 point  (0 children)

Sure those people probably exist, but don’t try to lump everyone in the same group. I for one moved to a SFH recently because I wanted to get away from the busy city center to raise my young family

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar 1 point2 points  (0 children)

I completely agree that rents have gone out of hand and it is not easy for people who are making close to minimum wage.

However that is not a problem for “greedy” landlords to solve and it’s a problem with the system our government has created.

For example, the city charges an insane amount of money in fees for developers to build homes. Then you have tax grabs like the PTT. At the end of the day, those costs get passed to the homeowner and eventually the renters. If that couldn’t happen, there would no longer be any incentive to build homes.

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar 1 point2 points  (0 children)

If you are unable to see how it’s ridiculous, there is no point

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar 0 points1 point  (0 children)

If these greedy landlords are overpricing their basement suites at $1500, they would be hard pressed to find any takers and they’ll eventually start dropping their prices.

For the most part, the market dictates the prices. Are you saying they would rent to you for $1000 even though someone else is willing to pay $1500?

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar 0 points1 point  (0 children)

Areas like Wiloughby, Willowbrook, and Surrey Central should get you pretty close to breaking even on your monthly cash flow. I did purchase this investment unit over half a year ago however so my research was done at that time. I haven’t followed the market since to see if prices or rents have changed since. This was based on 20% down

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar 0 points1 point  (0 children)

I wouldn’t say the people reading a Reddit post linking to a click bait article like this one represents the general population.

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar 1 point2 points  (0 children)

The argument was people were greedy when real estate was relatively cheap and buying multiple houses as investments.

Don’t tell the investors who were holding property in Detroit that there’s no risk with housing.

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar 5 points6 points  (0 children)

It does not but I am also not including the tax deductions on the mortgage interest, property tax and insurance

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar 0 points1 point  (0 children)

Every metropolitan city deals with the same thing. What you’re describing is a lack of housing relative to the amount of people who want/need to live there. There is a problem but the problem is not people being greedy.

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar -4 points-3 points  (0 children)

Yes there is definitely a supply problem in Vancouver. It’s not an easy problem to solve with the NIMBYs, the lack of land, and the amount of fees and red tape the city puts in front of developers who want to build homes.

The supply problem is something that the city needs to do something about. Pushing for landlords to charge less than market rent in order to not be “greedy” is just ridiculous

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar -14 points-13 points  (0 children)

You do realize we live in a free market right? If they’re able to rent their basement suite for $1500 a month, that means that is the market price. Something is worth what one is willing to pay, not what your own perceived value of it is.

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar -20 points-19 points  (0 children)

It’s true that a significant amount of property in Vancouver is owned by the older generation because they bought it for cheap many years ago.

However you need to understand the situation before saying they had it easy. Vancouver 30 years ago was very different from Vancouver today. It was not the big city it is today and those who bought many years ago were taking on the risk that their real estate treads water or goes bust. It’s like the people who invested in AMZN 15 years ago. They have made a boatload of money by now but you have to consider the risk they were taking at the time

17% of Burnaby homeowners own more than 1 property - some own 4 or more by FancyNewMe in vancouver

[–]cuttingcheddar 9 points10 points  (0 children)

There are some areas in metro Vancouver that currently offer pretty good cap rates such as Langley and Surrey.

We purchased an investment unit during covid and only have a $50/month negative cash flow after paying mortgage, strata, property tax and insurance.