Properties that debt service on a rental basis (Sechelt)

So I have been keeping my regular routine of Mon and Tuesday at the Sechelt office drumming up business.

Things have really climbed up in price over there in the last few months. I always pick up the Sunshine Coast Realtor and see what I might want to buy next. It is getting harder and harder to find properties that actually debt service on a rental basis.

I did however find a few that I think are quite good, for example there was a house 1300 sq ft 3 bedroom 2 bath on a city lot listed at 269,900 so for this home, with zero down, payments are around 1500 per month and rent would be between 1400-1600 per month depending on how nice it is inside. Where can you get those numbers in the lower mainland? The smallest house is half a million dollars. Here is another one 1/2 duplex 2 bedroom 2 bath 235,000. Don't wait long though there were only a few homes under 300K left, its a 40 minute ferry ride to a community that is peaceful and sweet. Give me a call today if you're interested: Ocean all along the highway and biking and hiking until you can’t stand anymore. Oh here is another one 6 bedroom house 3 up and 3 down for $399K half acre level lot walk to school 2 minutes from the ferry, approximately $2200.00 per month mortgage payments… sweet.

I have to stop shopping now until I sell off the 13 lots I just bought over there last year...

These examples are with no money down, that's right you can buy a second home with zero down, no catch nothing hinky just CMHC insurance. The callers in my office talk to about 300 people per day and many of them refuse to believe that a no-money-down mortgage is possible. I am here to tell you that it is very possible and many people are doing it. I have one client that just bought 2 places in Winnipeg, the rental income is over 1.5 times the mortgage payment, one of the homes was 58K to purchase… how funny I think even in the 80's prices here weren't that low... of course you don't even have to like the frozen weather because you wont be living there, now, will you?

I digress, back to the 13 lots, the price is $140K per lot, all around 8000 sq ft in the heart of West Sechelt, ferry, no views of the ocean but you can't have it all for that price, feel free to call me if you want more info and yes they are fully serviced.