Check out this recent article about how Condo rentals can enhance YOUR income http://bit.ly/2dPQ0YU
The lack of sufficient condo and freehold housing stock in the city, Urbanation says, is sending condo rents skyward, with the number of units renting for above asking price, more than doubling from a year ago.
It’s time to MAKE YOUR MONEY MAKE MONEY!
Just an fyi to let you know that your investment portfolio is not really balanced until/unless you have some equity in Toronto Real Estate. I can help you fix this the same way I have helped so many clients buy the condo of their choice.
One strategy I’ve helped to execute for clients is to purchase, then rent out for now, covering the expenses, but with an eye toward gifting their children later with an asset they can live in later during university days and beyond. This also allows their children to have a solid foothold in the housing market with appreciating leverage which allows for a downpayment on their first freehold house when family growth is in their future plans.
Another strategy clients are adopting is the purchasing of condos or smaller rental homes as a source of sustainable income stream and knowing that they have an investment position in the housing market. Even if the rental income just covers the expense, the appreciation of just the land holds significant asset value year after year.
With Canada and specifically, Toronto, attracting more and more immigrants year after year, we do not see this opportunity for investment abating any decade soon. Our financial system, superior schools, comparatively low crime rates, our inclusiveness and ethnic diversity attract people from all over the world to our shores and those people need a place to live.
For the past year at least, my Monthly Market Moments (click on my latest update) have been reporting on the increasing sales and average sale prices of condos. In fact, we are now in a Sellers market with many condos, just like freehold homes, where buyers are competing for units in multiple bidding scenarios and NOT just at the low end of the market. There are so many down sizers who want large spaces in the 2000 square foot range, and the supply is very scarce.
Let’s connect now and chat about what could work for you and your investment future. SUPPLY IS LIMITED, I can assure you!
As Mark Twain says….“BUY LAND. They’re not making it anymore!”
If you (or someone you know), are looking for a Realtor who cares MORE about focusing on you, your concerns, goals and the successful purchase or sale of YOUR unique home, than they care about their volume of transactions and awards, please let me know the best way for me to connect, as I would love to offer my highly personal service. Contrary to that old expression, not only IS this business, but it IS personal! And, please, I encourage you to ask me any questions you may have about this post. I value your input and appreciate the time you took to read it.