I’m a Vancouver based Realtor with Macdonald Realty Westmar. Each week I share my views, opinions & analysis on a variety of Vancouver Real Estate topics. My opinions and commentary are based on over 30 years of experience as a successful Vancouver Real Estate investor and close to 35 years as a stock investor.
My blog shares how I achieved financial independence using a simple and straightforward method of buying and holding quality Vancouver Real Estate. I also blog about supercharging your results by passively investing in low cost ETF’s and high quality dividend paying stocks. Together they will create a passive income stream for life.
My Book “Along for the Ride” available on Amazon (bit.ly/Owen_Bigland) will give you a step by step guide on how I achieved financial freedom and how you can do it too.
I’m putting up new content every week so subscribe to get my latest videos. If you have a question or topic you would like more info on, send me an email or a comment.
"Being in good shape can't be bought, it can't be borrowed, it can't be stolen. Hard work is the only trade, and that is the exact same thing as what life is all about." - Thank you for that new (to me) perspective. I am in my late 50s and have been in recreational endurance sports for 15 years. The grit one can tap into when times are tough does set you up for success. Doing things that seem impossible is realized when one puts in small but consistent work every day. Progress over perfection. It is incredible how fitness transcends into everyday life. I appreciate you Owen.
I have a friend who is looking for an investment property. He has a lot of cash coming up soon ~300k. He's looking for an investment property. What price range would "good" downtown condos go for? He's looking for a long term rental.
hallelujah, Owen! What happens when a bunch of progressive nuts put a 50% tax on building condo's? Shot in the dark? Maybe there won't be enough condo's built?
Use the search button on my channel.. i have done lots of videos on what to look for in buying quality. You could also start with my book on amazon. All realtors are not created equal and why you want to use an experienced pro who knows all the quality strata in Downtown Vancouver.
It is depressing to see the empty lot on Georgia where "The Park" was supposed to be built. Again as you say the developers are waiting. Also 1515 Alberni is being built but it seems to be very slow. Georgia should be the crown jewel of the downtown, instead the NDP prefers an empty lot with weeds. Might as well have left the White Spot there.
I think you’re probably right. You never know, however - we could be in the early innings of a slow market w significant price declines. But if I had to bet I would bet on prices bottoming this winter.
I’ve noticed theirs a trend forming with people advocating to not buy real estate and just invest the down payment into the S&P 500. I know it’s been a great run over last decade, but people don’t understand how priceless it is to have stability and security. Are your clients having less appetite for rentals as a ETF avoids a lot of the headaches of a tenant? Thx
The appetite for my clients owning quality investment units has never been higher. Cap rates at all time highs, Interest rates coming down quick, vacancy near zero and not building any new supply in downtown Vancouver priced under $1600 a sq foot moving forward. My problem is there are very few quality units to go after that are priced right in quality strata and good locations. Extremely rare to have trouble with tenants if you know what your doing and how to properly screen .. run credit and employment checks on potential tenants. This is something i have been educating my new investor clients on for decades.
This is more of that Socialist Kool-Aid that they want you to take. If i'm not mistaken this is a co-development deal on native land. so it's leasehold ( don't own the land) Stay away for this at any price. watch my blogs recently and over the past 10 years on why i don't sell leasehold properties. It's all part of Eby's plan to get you into that Socialist quicksand.. where you become dependent on the NDP for your survival.. That's when they've got you! That's why the public sector job market has been the only area growing the past 6 years ( Government Jobs ) have been increasing and the private sector decreasing. They are creating jobs so they are dependent on the Government for their survival so they can stay in power .. Don't fall for it!
What would be the lowest deposit the developer offer in your opinion? In metro Vancouver, 20% deposit for 1beds, 15% for 2beds and bigger are required. I'm a potential buyer waiting for the right time
They have been offering that for months now.. take a look at some of the videos i was doing in the Summer. 5% down is back and they are still having a tough time selling.
Well you wouldn't be. when i say the Summer was slow that dosent mean no one was buying. i sold lots of homes and represented lot's of buyers this Summer. The prices they got accepted with no competition are going to look pretty good in a few years. Smart buyers have been in the water all year including this Summer.
Hi Owen, can you tell us in a video about the BC government and First Nations coming together to sell condos by the Heather Lands? I saw something on this? What is this? Is it affordable housing?
This is just another socialist NDP trick to make it look like they are doing something about affordability . These will be leasehold condos ( Don't own the land) I have always advised buyers to stay away from Leasehold as you get very little in the way of appreciation. I have done many videos over the years on leasehold vs freehold .. just did one a few weeks ago on the socialist Liberals building condos on leasehold crown land... and not to buy these. It's just glorified renting with a lot more responsibility and financial liability in my opinion.
I've always found your videos incredibly sound. I pulled the trigger in 2018. I'm so glad I did, there's no way I would have had the wealth growth that I experienced over the last 6 years. I was able to catch up for decades lost. I might not hold the place I'm in forever but the position that it's put me in has given me nothing but options where before there were none.
The Feds has unleashed chaos! every day we encounter novel challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $180,000 savings vanish after putting in so much effort to accumulate them.
What specifically is the advantage of investing in real estate versus the stock market, when the ROIs on real estate are low and regulation is high? What does real estate investing actually contribute to your investment portfolio. And with the empty homes tax, it makes you a slave to reporting/penalties, such that you can't even live in your own property part time if you are out of province.
Have you thought about actually putting in 30-40 hours of research to find out. Why do you think almost all high net worth individuals own both RE and Equiities? You could start with my youtube channel here.. use the search box... i have probably done 30-40 videos on RE investing vs Equities, the pros and cons for both and why you want to own both. You could also start with my book on Amazon "Along for the ride" On how i became a multi-millionaire at a young age and hit my cross over point where the income from my RE and stock portfolio is more than enough to live on without actually having to work for the income. You should start by learning about Leverage ( The ultimate wealth multiplier) How to use it properly and wisely. Diversification and portfolio construction , how to stack assets and reduce risk as well as the Canadian tax code and tax advantages with investment RE. I have covered all of these in my videos over the past 14 years and give you my own personal specifics in my book. This is all mandatory knowledge before you start your investment journey. By the way half my net worth is in Vancouver RE the other half is in mostly US equities( 80%) 20% in CDN and Euro stocks. I would never want all my assets to be in one asset group either should you.
Well said. People like to whine all the time instead of making a move. I got my first home in 2011 and most of my friends told me that I was making a mistake. Guess what, most of them bought in 2022-23 for much higher price.
Everybody is broke. Or loaded. Third world conditions. Gated communities needed to ward off the great unwashed masses. Retirement crisis upcoming will be horrific. Have a good day
I’m not sure if it was a myth. The big banks were holding piles of cash in preparation for a lot of defaults. Maybe they have been working a bit with these borrowers I’m not sure. If they stuck with higher rates for a while longer I think you would have seen some more damage. Problem is these people don’t want to sell at a lost so they do what they need to make sure they don’t lose their house even if they over paid. That stress test seems to have done its job as well.
Basement dwellers that’s what they are Owen! Can’t be found and can never verify that they have a house. There’s no crash and if rates come down faster there’s no mortgage renewal cliffs!
What I like most about your videos is that you say the same things over and over for years on end. Right every time too. Always looking at the long-term while still commenting on short-term issues.
Thank you.. i appreciate that. Yes my message has never changed because it's what i have been doing for over 30 years now and it works. Just keep it simple buying and holding is the best advantage you have when it comes to RE and equities. Keep you taxes, friction costs low and let compounding do the heavy lifting.
I bought a condo on dec 2023 and got 3 year fixed at 5.8% 450k, im renting out until dec 2025 then planning to move in. Do you think i should renew early or wait it out?
Right now I am on a 4.64 fixed with 2.5 years left. If the rate is lower when I finally renew I’m just going to keep my payments the same and pay this thing off faster. I may miss all the good rates by then though…
@@morganbruno3252 Why in god's green earth did you choose a variable rate mortgage 3 years ago when fixed rates were sub 2%. I just don't understand what was going through your head!
I can tell you they didn't contact us to build prefab materials factories, so forget access to materials and buildings produced at the scale of their delusions.
Hi Owen, do you care to make a video about the UHT? I have just been slammed with an 8K late filing penalty (4 properties x 2k). My accountant didn’t give me a timely heads up and since this is the 2nd year since existence it wasn’t engrained in me yet. Our 4 properties are 100% rented so we don’t owe any taxes. It feels so wrong for being charged so much for basically sending back a blanc form. This government makes owning properties so difficult that I seriously consider throwing my hat and just invest in stocks if it wasn’t for my kids. Thanks
It's great to know that the government is ensuring that we will have sustainable slums in our community for generations to come. One suggestion: they might sell better if they sold them as "iconic" government housing. I've heard from reliable sources that this is an effective marketing technique, will little upfront cost. . .
@goodman report As we enter this provincial election year, there has been a notable surge in housing-related announcements from the B.C. government. Amidst this flurry of communications, it’s crucial to assess the Province's record of using accurate data. Since the B.C. NDP came into power in 2017, approximately 700,000 individuals have migrated to British Columbia, with at least half settling in Metro Vancouver. Of these newcomers, approximately 75% are renters, highlighting the pressing demand for rental housing. This means, conservatively, 262,500 renters moved to Metro Vancouver while this current government has been in power. In contrast, the number of purpose-built rental homes added to the inventory during this period has been very limited: • 2023: 3,144 • 2022: 3,805 • 2021: 1,602 • 2020: 2,388 • 2019: 1,464 • 2018: 793 • 2017: 229 Total: 13,425 This figure starkly contrasts with the influx of renters, totalling 262,500 individuals. That means our provincial government has built less than 1 rental home for every 19 people moving to the area. The scarcity of rental units to house the many newcomers to B.C. is the reason for escalating rents observed across the region. While our government has touted several initiatives such as the Rental Protection Fund, Airbnb regulations, Vacancy Tax, Speculation Tax, and measures targeting money laundering and foreign buyers, none of these policies have addressed the fundamental issue: the inadequate supply of housing. The reality is that only the open market can meet the demand for 262,500 rental homes. Taxpayer-funded government construction, non-profit organizations or cooperatives can not even come close to building this many rental homes. British Columbians must see beyond the rhetoric and political maneuvers and instead advocate for policies that facilitate the market’s ability to address the housing shortage effectively. By removing barriers, streamlining processes and incentivizing rental construction, the government can enable home builders to fulfill its role in providing much-needed rental housing options. This is the one thing our current B.C. government has not yet done.
