Differences between N. American and Chinese investing in commercial real estate
1) Mentality differences between North American and Chinese investors investing in commercial real estate.
1) 北美的本地人士与华裔人士在商业地产投资的思想上有什么不同呢
It has been my experience, that many Asian investors have a long term "generational" investment perspective whereas North American society/culture is based on a 5 to 10 year investment horizon based on achieving a specific return and then reinvesting in new projects or opportunities with more "upside"
北美本土人士与华裔人士在投资的年期方面想法有所不同。本土人士持有物业大约5至10年，5-10年后若回报率不错，就将物业卖出，接着就寻找一些新的项目投资。而华裔人士对于物业则是“代代相传”。
2) Needs differences between North American and Chinese
2)本土人士与华裔人士对于投资的需要有什么不同？
North Americans want to what to know "all" their investment options for a specific type of real estate property asset (apartments, office, industrial, retail, hotel/motel, manufactured home park, care facility, etc) in a specific geographic area as well as the recent past operating history of the property. Chinese investors want to ensure that they are investing in a "safe and secure" environment where they will realize a gain in the value of their real estate and can easily sell their real estate asset if needed. There are also immigration strategies based on Canadian legal requirements.
面对投资选择时，本土人士通常选定一个小范围地区里的某一种物业类型（公寓，办公楼，商店，酒店/旅店等）并且研究该物业3-5年内的营运情况。而华裔人士在面对投资选择时则偏向于“安全/保险”的，可以盈利的物业类型。而对于过往营运情况，华裔人士较少去关注。而对移民有帮助的物业，华裔人士更倾向与投资。
3)How easy or difficult for an investors to get financing?
3)对于华裔人士，比如没有信用记录的新移民或是国际投资者，借贷是否容易?
Financing the purchase of an investment property depends on the property type (apartment, retail, hotel, industrial, shopping centre, land, etc), purchaser's equity (should be at least 25% of purchase price), financial statements of the property being acquired (if a cashflow property) and the financial strength of the purchaser in terms of credit worthiness.
一般来说，首付最少25%。但多数情况下是更多的，比如说50%，甚至60%。借贷除了看借贷者本人的信誉以外，还需要看物业类型。比如物业的收支是否平衡，现金流量，财务报告等许多因素。而借贷者在海外的银行若与加拿大的银行有接连，借贷会容易一些。
4) what is the realistic cap rate range when investing in BC?
4)卑诗省，资本报酬率或回报率的范围是多少呢？
Capitalization rates have a wide range from a low of 2% for a Westside/West End concrete rental apartment building in Vancouver to 10% for a motel/hotel property that requires significant management oversight and ongoing operational expenses (staffing, marketing, linens, beds, TVs, maintenance, etc) in changing business cycles. Cap rates are dependent on the risk and return of the investment which must be carefully analyzed to ensure that they are "market" based taking into consideration the location of the property and current business environment.
最低的回报率一般在2%左右，这样的物业类型通常是公寓。而工业和商业类型的物业，回报率属于中级，大约4-6%。若您想达到10%的回报率，则需要投资例如酒店这样的物业类型，因为您将需要员工，市场推广，换床单，电视等，这样的情况下您付出了更多的劳动也得到更多的回报。物业的类型，新旧，地理位置，以及经济循环状况对于回报率都会有影响
