During the past few months, I’ve had a few different clients asking about investing in our town, Kamloops. There are quite a few things that makes Kamloops have such an impressive rental and investment market, not to mention how wonderful the community is. So, I thought what an excellent opportunity to write about the process of buying an investment property.
Firstly, the magic question: is Kamloops a great investment? Well in every transaction, investment or opportunity you have to look at the ROI (return on investment) and the CAP rate. Return on investment is the percentage, or dollar value, that you’ll get back from your initial amount invested.
ROI = (Gain from investment – Cost of Investment) / Cost of Investment
Need a bit more detail? Check out an article here that explains it very well.
- Low Vacancy Rate: 1.3% (2018)
- Avg Median House price: $475,000
- One Bedroom: $1100 (avg)
- Two Bedroom $ 1400
Ok, now that we’ve covered some of the numbers, lets jump into Kamloops specifically and what makes it so positive for investing:
Our wonderful town of Kamloops is VERY self sufficient and community based.
- We support locals! We prefer to work in Kamloops rather than outside, if possible!
- We have a hospital with full a nursing program.
- TRU brings a lot of international students and a lot of complexes located close to the university, and really enhances the lifestyle.
- Nature at it’s best as we are smack in the middle of two AMAZING ski hills, right next to Kamloops Lake & Shuswap.
- There are always a TON of local events, tournaments for sports and it is extremely family friendly!
Basically, Kamloops is the home, with an amazing back yard that makes it ideal for families.
So if you are ready to take advantage of some of the best investment opportunities here in Kamloops, let’s set up a coffee!