brampton worth investing??
been getting emails for a condo by primont called montvert. hows the resale in the area???
Feb 20th, 2020 5:47 pm
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Feb 21st, 2020 8:48 am
Feb 21st, 2020 8:52 am
Feb 21st, 2020 8:52 am
I ran a cash flow on this, break even is at $2,000 per month on a 1 bedroom + Den under 400k. You can’t compare basements to condos - completely different market
Feb 21st, 2020 8:53 am
Feb 21st, 2020 8:55 am
There aren’t many comparable in Brampton since it’s not a condo market, but old beat down condos near Bramlea are already rented for around the $1800 price mark.
Feb 21st, 2020 9:05 am
Feb 21st, 2020 9:46 am
Buyers looking for a $360k Condo aren’t the same buyers who can afford a $600k town. Value per sqft is hard to compare if the entry price is nearly double.Singh_21 wrote: ↑ Sure as a realtor would pitch anything to their clients. I am a realtor myself (p/t) and I won’t invest here personally and I don’t recommend it. But if someone comes up to me and say hi I specifically want it, then I won’t refuse it either.
But just last week you could buy a freehold urban stacked townhome from field gate in Brampton for 599,900 and 610,900 and that included an unfinished basement, 3 bedroom,2.5 washroom, 3 storeys, 2 balconies, 1 garage, total 3 parking spots included with one in garage, 1 covered parking and 1 uncovered parking and no sidewalk. That was a better investment but since fieldgate only pay referral coop to agents, they didnt sell like hot cakes like these precon condos where agents get paid 4%.
The days of investing in precon condos for profit are over. Resale co dos and resale freeholds that can be converted to duplex is the way to go.
Feb 21st, 2020 10:06 am
Feb 21st, 2020 10:31 am
We were having discussions late last year about this project with the builder. At that time proposed price per sqft was $600. A few weeks ago it was $680-$720, actual came in around $800 and still sold like hot cakes.
Feb 21st, 2020 12:49 pm