A question I frequently receive from investors is "Do I need a parking space with my downtown Vancouver condo?" 10 years ago I would have said yes but today there’s really no right or wrong decision.. it really depends on your budget and if you want to spend the extra $40K for the parking space. A trend that I started noticing about 5 years ago was young people (tenants) giving up the car and not needing a parking space. I can see this trend continuing. On the other side, parking in Vancouver is becoming more scarce every year. So the value of that parking space will appreciate just like the unit over time.

Been a while since I did a book review so here we go.. just finished "Shoe Dog" a memoir by the creator of Nike, Phil Knight.

I just finished uploading this Townhouse for sale, 113 W 15TH AVENUE, Vancouver West, BCThis front facing unit can make the owner feel he/she owns the whole property! Centrally located in great environment, right across from Simon Fraser Elementary and the Mt Pleasant Park. Use your imagination and renovate this 3 level unit, which is in the original condition. Property is sold "As Is", and hence at this great price. Motivated owner, already moved and property can have immediate possession. Strata is self managed and has minimum expenses. All measurements approximate.

I just finished uploading this Condo for sale, 203 4111 FRANCIS ROAD, Richmond, BCAPPLE GREENE SPACIOUS 1 -BEDROOM+ DEN. THE DEN EASILY CONVERTS TO A 2ND BEDROOM. 1.5 BATHROOMS. NEWER KITCHEN CABINETS. THIS APT. IS 928 SQ. FT. PLUS 105 SQ. FT. OF SUNNY OPEN BALCONY. LOTS OF INSUITE STORAGE AND A LOCKER SPACE ON THE SAME FLOOR .. ONE PARKING SPACE. GREAT REC. FACILITIES WITH INDOOR/OUTDOOR SWIMMING POOLS, LOUNGES, SAUNA AND MORE. IDEAL LOCATION ACROSS THE STREET FROM SEAFAIR SHOPPING CENTRE. NEAR SCHOOLS AND TRANSIT. TREMENDOUS VALUE IN THIS NICE WEST RICHMOND APARTMENT.

Ever wonder why some people seem to have all the luck? They are able to achieve great success financially while others seem to struggle and fall further behind. It boils down to their mindset and how they think about investing. There are really only 2 types... Investors and speculators. Investors simply buy and hold quality assets for long periods of time. Collecting cash flow in the form of dividends and rent checks. Speculators bet on price and tend to get in and out of positions incurring friction costs in the form of buying and selling commissions.

Time for one of my regular blogs on simply buying and holding your principal residence as opposed to being a long term renter and the principals you MUST adopt in order to guarantee success.