Dave 2, aka the source: "Now, with over 8 years of experience behind us, we’re sharing our stories and giving advice"

LOL. What advice? How to make money in a boom market? Because that's all you know. But you're about to get quite an education in bear markets, and the cost will make your student loan debt seem cheap in comparison.

Speaking of which: psych always attracts the flakes; no surprise considering how dysfunctionally 'the source' has represented himself here.

Instead of taking Dave's word about that not being his website, which he entered on a post. Why don't we ask his wife if he's been trolling multiple bear blogs?

It's clearly him and he could be Krissh too

Oh god, I just read that Dave is a mortgage broker. Let me guess, you want to be Avtar Bains?

Mortgage brokers and real estate agents that do development are like drug dealers who do their own product.

What I don't understand, is how can mortgage brokers get sucked in? I can understand real estate agents b/c they start believing their own BS. But mortgage brokers should realize the market is turning when NO reputable bank will touch broker deals anymore.

"In February, 2008 he switched to commercial real estate, and is now learning how to obtain financing for large apartment buildings, regional shopping centers, condo developments and more" This actually made me laugh out loud. None of the big five banks are doing much financing for ANYBODY right now, especially not for amateurs who jumped on the bandwagon way too late. Dave, I suggest you try the credit unions first, although even they seem to be realising they're going to get murdered when the market turns. Maybe some of the mezz debt lenders would be willing to take a chance on you, but they will charge you 18% interest and a 4% fee. Btw, since you're doing a "land assembly", I would bet a lot that your property is out in the sticks. I'll give you some free advice: stop… Read more »

Stop feeding the trolls everyone, it's ridiculous. Let's have some real discussions.

Something similiar to zis my friends will happen here. I have no doubt…..

http://www.nytimes.com/2008/08/04/business/04lend…

If you read Dave 2’s blog, he doesn’t say that he ever lived in Victoria.

"Dave has a Bacher of Arts with an Hounours Degree in Psychology from UVic"

Pretty hard to go to Uvic without living in Victoria

His race was in July.

No, he had a race in June.

From Bluesman's first link (Jurock for Calgary Herald). Ozzie says: Sales of new condos are sharply lower this June (down 62 per cent), and the sales success ratio dropped from 70 per cent to 34 per cent. This would be due to increased failures of conditional offers of sale, inspection, and financing. I wonder how much the latter is impacting the success ratio, if at all. What this means is that, if I read these stats properly, the number of accepted (not completed) offers is only down around 20% from last year. This makes sense — the real estate ladder is leveraged off FTBs and an increased number of failed offers is a corollary to falling sales. Why FTBs are not buying is another question entirely. Likely reasons are tighter lending, demand borrowed from past years, and speculation of future… Read more »

Here are a couple of interesting links I found over at Alberta Bubble Blog. Hat tip to Brent over there.

http://tinyurl.com/6mxk64

http://tinyurl.com/6jmfue

Dave can't see the forrest for the trees.

About Julie Broad and Dave Peniuk In our first five years as rookie real estate investors, we purchased eleven residential investment properties, dealt with a property manager on trial for murder, tenants with knives, fire code inspections leading to court appearances and more. Now, with over 8 years of experience behind us, we're sharing our stories and giving advice to help other rookie investors avoid the mistakes we've made, while enjoying the benefits a good real estate portfolio offers. Dave and Julie Julie grew up in a house attached to a small 20 room motel in Bassano, Alberta. Her family has been self-employed and involved in real estate in varying degrees throughout her life, so her interest in all things brick and beam was natural. From land to strip malls to apartment buildings, her family has been involved in many… Read more »

So they are having trouble selling 1 bedroom Manhatten units for $600k?

So what does that mean in Vancouver where the rent is about 40% of Manhatten and costs more?

http://www.nytimes.com/2008/08/03/realestate/03co…

One of yesterdays trolls even referenced the trolls?

http://www.nytimes.com/2008/08/03/magazine/03trol…

There's also an article in todays NY Times about a glut of 1 bedrooms in Manhatten, which is in a comparable city in New York, New York.

Also, why did the “about us” on the Dave & Julie page suddenly change today?

Scratch that, I mixed up the blog and the website. So this Dave is a mortgage broker? Isn't that what dev/null independently figured out that the "other" Dave was? Very coincidental.

You’re mixing up Dave and The Source. That is The Source’s blog (unless you are proposing that they are the same person).

Perhaps "The Source" is Julie and Dave is "Dave". I mean, how many people named Dave have a keen interest in real estate investing, lived in Victoria and Burnaby, and both had races in June? Also, why did the "about us" on the Dave & Julie page suddenly change today?

These are the Daves I know, I know These are the Daves I know These are the Daves I know, I know These are the Daves I know.

I see that some people have been talking about market rents so I would like to post a question. I recently moved to Richmond; I rent the top floor of a duplex near Steveston Village. It has three bedrooms, two bathrooms, a large deck and a huge (i.e. double lot) backyad. I am presently paying $1300 for it. Would you say that this is close to market rents in Metro Vancouver? Thanks!

Could someone please call the grownups back into the room?

Dave: "Different" isn't the word! 🙂 Now go to bed!