Folks, I just finished a successful FLIP in Richmond BC and currently working on finding the next deal. I am an active real estate investor in Vancouver BC looking for joint venture partners for my next project. Attached are few pictures from my last project for your reference. - I can find the deal, bring the trades, my supplier contacts, design, project management and execution (10-15 day Reno depending on the scope of work), and I have already negotiated with my realtor on the commission splits to maximize profit margins, and bring the Reno cost for the project to have a skin in the game. - Looking for JV partner who can bring the funds to acquire the property either as cash/ HELOC (or) downpayment and mortgage eligibility with an A Lender. Should require, I have a really good notary (lawyer) and mortgage broker I have used in the past, and I have negotiated the best rates and terms for their services to save the project overhead costs. If anyone is interested, please text my cell at 604 626 2273 and let’s connect for a call and see if there might be a fit for us to create a win win partnership. Cheers, Kash

Hi, where could I access the SNAP STATS in the PREA Academy now?

Fam, sharing a WIN today with my Microflip (condo flip) in Richmond BC, Attached Pictures! Picked up the cheque from my lawyer’s office today and now it’s time the investor pay back time, I had bought this flip with 95% OPM using creative financing Strategies! * Bought for 610k on May 17th 2024 and sold for 712.5K on Aug 2nd 2024. * 35K Reno cost (Reno’s completed in 12 business days from demo to staging). * Time duration < 3 months (78 days from buying date to sale closing date to be exact). Few challenges and lessons learnt in this project: A. Financing: Private Mortgage could be expensive affair and quickly eats into your condo flip profits, make sure to factor in legal charges paid to lenders lawyer, lender fees, broker fees, legal opinion letter charges if buying under a corp, and in most cases your lawyer might charge a premium in fees to review private mortgage documents too. If I could partner up with someone who could bring in a HELOC funding, I would have happily split the profits and paid them their share of what I had paid to MIC and extra lawyer. B. Private Lender: I had an investor who had committed to lend 50K (Creative Financing again, secured collateralized promissory note loan agreement we had in place for 18% interest) changed their mind and back out of the deal 3 days before closing, this put me in a tough spot, fortunate another investor from this very own group helped me last minute. Make sure you get firm commitment from the lenders and have paperwork completed in advance and secure the funds a week before closing to avoid any last minute changes. C. Security Issues: Lockbox Stolen, My lockbox used for contractor access got stolen (I had fob and master building key inside along with unit key), and the building security was compromised, and there was a break-in next day. I had to work with strata and council to rekey the building, re-program the fobs, and had to take tab on part of expenses which comes to around 3.5K, this was an unexpected expense. My insurance deductible was 2.5K, and was not worth it going this route with claims (I would have been better paying slightly higher insurance premiums for a lower deductible policy).

Hi everyone, We’re getting started on our first flip and planning to make a trip over to the mainland to pick up some material. We’re hoping to get recommendations for suppliers for interior doors and hardware, plumbing fixtures, lighting, flooring and tile. Any input would be greatly appreciated. Looking forward to starting the process. Thanks,

🌟 Exciting News for Prea Army🌟 Hello everyone! I'm thrilled to share some fantastic news with all members of the Prea Army! The BC government has recently launched an incredible new rebate program aimed at making our homes more energy-efficient and environmentally friendly. 💡 Introducing the Heat Pump Rebate Program 💡 The BC government is now offering homeowners rebates of up to $16,000 for the installation of heat pumps in retrofits or renovations. As of now only your personal occupied dwelling can be eligible for the rebate. Any flips wont be eligible for the rebate. Program Details: - Rebate Amount: Homeowners can receive up to $16,000 in rebates for the installation of a heat pump system. - Eligibility: This program is available to all BC residents who own a home. Specific eligibility criteria and application details can be found on the official government website. - Application Process: To apply for the rebate, you need to follow the steps outlined on the BC government’s website. Ensure you have all necessary documentation and receipts from your installation. How to Get Started: 1. Research: Look into the different types of heat pumps available and decide which one is best suited for your home. 2. Apply for the Rebate: Visit the official rebate application website at betterhomes-esp.clearesult.ca, fill out the application form, and submit it along with the required documents. 3. Choose a contractor: You can select our company thought the data base Fast Cool 4. Enjoy the Benefits: Once your application is approved, you’ll receive your rebate This is an excellent opportunity to upgrade your home’s heating and cooling system while taking advantage of significant financial support from the government. If you have any questions or need more information, feel free to reach out to me directly. You can call me at 778-998-7842. Warm regards, Karan Virk