It is like parents hitting up every Walmart, BestBuy, Staples, etc this weekend trying to find a Chromebook. Except people are hitting Mattamy's, Minto's Richcraft's, etc sales centre to buy a Town home.
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- Jan 17th, 2021 11:47 am
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- William W [OP]
- Deal Addict
- Nov 26, 2004
- 2709 posts
- 929 upvotes
- freeman93
- Member
- Jul 15, 2019
- 384 posts
- 266 upvotes
In other news 6 homes from the Coleman central area have been registered with tarion, which would mean approval of permits I believe.
Idk if anyone was still waiting on that info or not.
https://www.tarion.com/ontariobuilderdi ... ella/11962
- z613
- Member
- May 23, 2007
- 463 posts
- 176 upvotes
- Wild Wild West / Ott…
- Zero Hope
- Deal Addict
- Jul 7, 2007
- 1137 posts
- 718 upvotes
Well, I’ve been taking profits from my 10x leveraged T$LA calls and now I am able to add multiple precon Barrhaven townhomes to my growing portfolio. Treat these precons like calls, only have to pay the down payment for now. What can go wrong guys? Right, RIGHT?
Brb gonna create r/OttawaREBets
Last edited by Zero Hope on Sep 15th, 2020 12:57 pm, edited 1 time in total.
- AddictRC
- Jr. Member
- Sep 29, 2013
- 176 posts
- 95 upvotes
I saw a few red dots in the new release. I think this is gonna be close to the new "Barrhaven Downtown" or whatever. I'll keep my eye on Mattamy "Promenade".
- Cashforlife
- Member
- Jan 29, 2020
- 397 posts
- 388 upvotes
It is all about the TQQQ now. Triple leverage - this is the way. More risk, more reward.Zero Hope wrote: ↑ Well, I’ve been taking profits from my 10x leveraged T$LA calls and now I am able to add multiple precon Barrhaven townhomes to my growing portfolio. Treat these precons like calls, only have to pay the down payment for now. What can go wrong guys? Right, RIGHT?
Brb gonna create r/OttawaREBets
In Ottawa, we don't need to take such bets because real estate here can never go down, it's a kind of natural law.
- OttawaGuy2020
- Newbie
- Sep 13, 2020
- 14 posts
- 2 upvotes
Hi Guys, investor newbie question please. For multiple properties is it required to have 20% down for non-primary residences?
- AddictRC
- Jr. Member
- Sep 29, 2013
- 176 posts
- 95 upvotes
Yes. Sometimes they like 30%.OttawaGuy2020 wrote: ↑ Hi Guys, investor newbie question please. For multiple properties is it required to have 20% down for non-primary residences?
Unless you treat it like a second home:
https://genworth.ca/en/products/vacatio ... ogram.aspx
- AddictRC
- Jr. Member
- Sep 29, 2013
- 176 posts
- 95 upvotes
Are you serious? You got balls if you are.Zero Hope wrote: ↑ Well, I’ve been taking profits from my 10x leveraged T$LA calls and now I am able to add multiple precon Barrhaven townhomes to my growing portfolio. Treat these precons like calls, only have to pay the down payment for now. What can go wrong guys? Right, RIGHT?
Brb gonna create r/OttawaREBets
If you are treating these as flips:
1. You have to hold them for 1 year or risk losing the HST rebate.
2. You will probably have to pay ~25% capital gains
3. You have to eat the land transfer + legal fees
- OttawaGuy2020
- Newbie
- Sep 13, 2020
- 14 posts
- 2 upvotes
Thanks, any recommended additional resources on getting started with multiple homes or good brokers/accountants specializing in this area?
Related to claridge, closing in 2022. Perhaps that far out is related to crazy prices.
Related to claridge, closing in 2022. Perhaps that far out is related to crazy prices.
- AddictRC
- Jr. Member
- Sep 29, 2013
- 176 posts
- 95 upvotes
I have a few rentals in Barrhaven just because I do my own property mgmt and don't wanna drive far just to show tenants how to program a thermostat. I bought 2 more this year and am looking for more before the prices get too high. I haven't read too much of this thread past the last 5 pages but if others are interested as well, you can ask in the thread and I can answer the best I can. I also do my own taxes so I'm pretty in tune with all the tax implications.
- BigDurian
- Jr. Member
- Mar 1, 2016
- 186 posts
- 109 upvotes
Based on your experience, is it still possible to be cash flow positive on a property in your target area or are you expecting further price appreciation to drive your ROI? ThanksAddictRC wrote: ↑ I have a few rentals in Barrhaven just because I do my own property mgmt and don't wanna drive far just to show tenants how to program a thermostat. I bought 2 more this year and am looking for more before the prices get too high. I haven't read too much of this thread past the last 5 pages but if others are interested as well, you can ask in the thread and I can answer the best I can. I also do my own taxes so I'm pretty in tune with all the tax implications.
- AddictRC
- Jr. Member
- Sep 29, 2013
- 176 posts
- 95 upvotes
Its possible to be neutral even with 100% financing. I use a HELOC to cover the 20% down payment even though banks dont like that. You have to have that 20% in savings or stocks to get approved for a mortgage now though.
I.e. A 470k town @1.95% over 30 years rented at ~2100 can break even.
You can obviously not finance 100% of it and leave some of your own money in there but then you will lose the ability to write off the interest for income tax.
As the mortgage goes down, you can refinance it and pull that money out tax free to supplement your retirement income. Or you can sell it when it appreciates and pay capital gains. My goal was to use the ROI to help my kids buy a house without putting much of my own time and money into it.
- nycetryguy
- Jr. Member
- Jul 1, 2015
- 118 posts
- 49 upvotes
- ON
- raaaaam
- Member
- Jan 10, 2012
- 217 posts
- 64 upvotes
- Ottawa
Does anyone know how I can find the development application documents for previous releases of an area? I can see the current ones on the city website but I cannot find the archives.
- AddictRC
- Jr. Member
- Sep 29, 2013
- 176 posts
- 95 upvotes
Those prices on Richcraft's website were actually for Findlay's Creek even though you click on Riverside South. I gave the sales rep grief for it as they are old sold out at Riverside South. I was interested in the 4 bedroom 2-car garage model for ~560k. Similar model from Claridge (Carlton) is 698,900 at Watter's Pointe with a limited time promotion of free A/Cnycetryguy wrote: ↑ How does this even remotely make sense. RC and HN homes largest TH are going for 600K.
- OttawaGuy2020
- Newbie
- Sep 13, 2020
- 14 posts
- 2 upvotes
Plus lot premiums on top claridge.
- canabiz
- Deal Guru
-
- Jun 28, 2003
- 10206 posts
- 3290 upvotes
- Ottawa
Caivan will be releasing new lots for singles at their Fox Run (Richmond Village) community this Saturday. First come and first served but up to $30K off on certain models.
Not sure how well they have been selling here, I know they started to market and sell this community at least a year or so ago, if not longer.
Not sure how well they have been selling here, I know they started to market and sell this community at least a year or so ago, if not longer.
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- Hanimal
- Newbie
- Sep 23, 2014
- 76 posts
- 51 upvotes
- Ottawa, ON
I'm in the market to buy a home and was wondering if there's a way to look up the original builder of a home if it's not readily mentioned in the listing. Is this information publicly available through the city? Currently looking in Bridlewood/Glen Cairn and Kanata lakes.
- michelb
- Deal Fanatic
- Jul 4, 2004
- 5846 posts
- 1902 upvotes
- Ottawa
You can Google it but typically that information belongs to the builder and if it's not on their website, it might not exist anywhere else.