There Are Deals to Be Had (If You’re Willing to Look Differently)

Ozzy Jurock has been on my radar for years.

A number of years ago, my friend Boyd encouraged me to follow Ozzy's work and pay attention to what he was saying about secondary markets. At the time, he was highlighting Prince George as one of the best opportunities in Canada. We decided to act.

We purchased a property near the university for $260,000. It was two parcels, we sold one for our purchase price a few months later and held the second, selling later at a significant multiple. That wasn’t luck. It was the result of Ozzy and Boyd, paying attention to cycles and being willing to move when others weren’t.

Today, I haven’t seen Ozzy specifically pointing to Prince George as the hot spot. His focus lately has been on larger urban markets like Vancouver and Toronto, where condo prices in some segments have dropped as much as 25%.

But the underlying principle hasn’t changed.

When the Market Pulls Back, Opportunity Shows Up

We are in a different economic environment than we were during the COVID boom. Many buyers purchased at peak prices. Some are now underwater. Others are simply stuck—unable to sell at yesterday’s valuations because transaction volumes have slowed dramatically.

That’s where opportunity lives.

Recently, I spoke with a financier who was describing price corrections in the Okanagan. He mentioned a property available for $1.5 million that had previously been trading closer to $2.2 million. That’s a meaningful reset.

Instead of focusing on price alone, I asked a different question:

Would the seller consider a structure where I simply take over payments — with no customary down payment?

It was the first time I had used that approach so directly, inspired by Ozzy's idea that in softer markets, terms often matter more than price.

There was a long pause.

Then he said something that caught my attention:

“Dave, I may very well have something. I’ll get back to you.”

That’s the key. When markets tighten, flexibility becomes valuable. Sellers who need solutions often become open to creative ones.

Low Offers Are Getting Considered

I’m also seeing something else: offers that would have been dismissed two years ago are now being seriously discussed.

Recently, I spoke with a realtor on behalf of a client about a property where previous deals had collapsed due to inspection issues. The sellers were tired. Motivated. Ready to move on.

I asked plainly: What would it take?

The response? A price roughly 20% below the already reduced asking price. At that level, the cap rate pushed north of 11%.

That’s strong cash flow by almost any standard.

Two years ago, that conversation likely wouldn’t have happened.

Today, it does.

The North Is No Exception

While the headlines focus on major centers, the same dynamics apply in northern markets. Slower sales, tighter financing, and sellers who need certainty create a very different negotiation environment than we saw during the frenzy.

For buyers who:

• Understand their numbers

• Focus on cash flow

• Are willing to ask uncomfortable questions

• And can move when something makes sense

There are opportunities.

Not everywhere. Not on every deal.

But they’re there.

Don’t Be Afraid to Ask

If a property makes sense on fundamentals, don’t be afraid to:

• Ask for better pricing

• Ask for creative terms

• Ask about vendor financing

• Or explore taking over existing debt

The worst someone can say is no.

The best they can say is, “I may very well have something.”

Cycles create opportunity. Discipline captures it.

If you’re seeing something that looks interesting — or you’d like a second set of eyes on a deal — I’m always happy to help you think it through,

Give me a call 250-617-7467

Dave Fuller, MBA, Realtor

Team Powerhouse Realty

Prince George BC