Robert Klein Newsletter - October 2019/Edition 89

Robert Klein - Mortgage & Life Insurance Broker

robert@robertklein.ca
778 896 6732
http://www.robertklein.ca

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October Foreclosure List

 

Sept 2019 Abbotsford Attached
Sept 2019 Abbotsford Detached
Sept 2019 Burnaby Attached
Sept 2019 Burnaby Detached
Sept 2019 Chilliwack Detached
Sept 2019 Commercial
Sept 2019 Coquitlam Attached
Sept 2019 Land
Sept 2019 Langley Attached
Sept 2019 Langley Detached
Sept 2019 Maple Ridge Attached
Sept 2019 Maple Ridge Detached
Sept 2019 Mission Detached
Sept 2019 Multifamily
Sept 2019 New West Attached
Sept 2019 New West Detached
Sept 2019 North Van Attached
Sept 2019 North Van Detached
Sept 2019 Okanagan
Sept 2019 Port Coquitlam Attached
Sept 2019 Port Coquitlam Detached
Sept 2019 Richmond Attached
Sept 2019 Richmond Detached
Sept 2019 Shuswap
Sept 2019 Surrey Attached
Sept 2019 Surrey Detached
Sept 2019 Vancouver Attached
Sept 2019 Vancouver Detached
Sept 2019 West Van Attached
Sept 2019 West Van Detached



Two Biggest Problems with Scaling into Real Estate

 

#1 - Not understanding what the banks will lend on easily
#2 - Not structuring your financials so the bank will easily lend to you

This problem has dramatically evolved over the last 5 years. 

The world of being entitled to mortgages based on equity and exceptions is gone.  

Is there a way around this? 

Yes.

Solve #1 and #2 = Scale. 



Real Estate Scaling Examples (Bad to Excellent)

 

Bad = Vancouver 1 bedroom Condo

Good = Fraser Valley 4 plex

Excellent = 15 plex @ 5.5% cap rate

In terms of financing, the average person might be able to qualify for 1 or 2 Vancouver condos. 

For a 4 plex in the Fraser Valley, that number increases to 4 to 5 or maybe more.  

For a 15 plex @ 5.5% cap rate, skies the limit.  As long as you have the down payment, the banks will line up to give you funds. 

https://www.youtube.com/watch?v=GpD5YvucKDA&t=1356s



New Mountain Bike!

 

Gears + brakes on the handlebars...not to bad for a 4.5 year old.  

Little Rob will be joining a local mountain bike club.  They train kids and have mock races all over Vancouver Island.  

He is so excited, that 50% of his youtube watching and evolved into Mountain Bike shows. 



Sarah Gets a Glider

 

A glider does not have peddles.  It allows you to push with your legs and learn how to balance. 

The glider is a little bit big for her at the moment.  We expect her to grow into it in the next 60 days!



Where Should You Invest?

 

The short answer is to check out ACRE event put on by REIN. 

https://rein.swoogo.com/acrevan

It's a 3-day event from Nov 1 to Nov 3.  

Don Campbell is the one you will want to listen to.  

I believe it costs $395 for the event.  

They will provide you a top 10 list of BC cities to invest into. 

This is the foundation of answering "where".  

I went last year and now I'm involved in developing a 32 unit rental building in Victoria.  

The key for me was knowing Victoria was in that top 10 list. 



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