Kelowna Realtor Selling His Vancouver ‘Rooming House’ – “Listed it at 1.4M, no bites, then 1.2, no bites and then withdrew the listing.”

Posted on 11 July 2012 | 3 Comments

“I went to an open house in Kelowna today… Talked to the listing agent… Nice guy who says he’d rather be in Vancouver because it fits his lifestyle better… He was trying to sell his 10 unit “rooming house” in Vancouver’s West end… Listed it at 1.4M, no bites, then 1.2, no bites and then withdrew the listing. I guess he needs the money to make up for a bad “real estate deal” which soured in the Okanagan. He said I should buy two houses – one for personal use and one to rent out. Told him I don’t see real estate as an investment… I’d rather buy a bank stock with a 4-5% dividend yield…”
– Bo Xilai at VCI 7 Jul 2012 10:27pm

This entry was posted in 11. Regrets about Investing in RE, 16. Missed The Boat? and tagged , , , , , , , . Bookmark the permalink.

3 responses to “Kelowna Realtor Selling His Vancouver ‘Rooming House’ – “Listed it at 1.4M, no bites, then 1.2, no bites and then withdrew the listing.””

  1. paul S | 11 July 2012 at 10:33 pm | Reply

    My theory about multiple house purchases in the last 5-8 years, is that it is an analog to the 1960’s in Western Canada, when, in about 1963, the women born during and just after WW2 were getting in the family way quite young, and banging out children, one after the other, until 1968. High fertility rates correlate to high home purchase rates, on a 45 year lag.

  3. chumpay von chumpowitz | 12 July 2012 at 7:11 am | Reply

    my bro is a realtor in Comox. Says half his deals now are foreclosures.

Leave a comment